CHICAGO, June 06, 2017 (GLOBE NEWSWIRE) -- As financial institutions seek to improve customer experiences online, TransUnion (NYSE:TRU) today announced the launch of Find My Offer to help lenders deliver relevant credit offers to consumers online. Find My Offer is a set of configurable white-label web screens that support a lender’s consumer prequalification and digital prescreen initiatives.
“Consumers are more empowered to be active participants in the credit process than ever before. They want to view relevant product options immediately when they reach a financial institution’s website,” said Paul Siegfried, senior vice president and credit card business leader at TransUnion. “However, financial institutions struggle to get the necessary IT resources and priority to build sites quickly and cost effectively. Find My Offer delivers an easy-to-implement microsite that is already integrated with real-time credit and identity decisioning solutions.”
Lenders can use Find My Offer to acquire new customers and expand existing relationships online. The site automatically integrates with TransUnion’s DecisionEdge suite, allowing lenders to use their existing underwriting criteria for their online marketing. Consumers arrive at a financial institution’s website and are re-directed to the Find My Offer site to start the prequalification process. TransUnion uses proprietary data, the consumer’s prequalification answers and the lender’s underwriting criteria to present the consumer with relevant, prequalification offers in real time.
For digital prescreening, TransUnion can match a device to an individual on the lender’s prescreen list and deliver a relevant firm offer of credit through online advertising. When a consumer clicks a banner ad, they are presented with the lender-branded Find My Offer site that describes the offer. “In addition to increased speed to market, each financial institution is assigned a dedicated Find My Offer project manager who will work with the company to ensure consistency with creative, compliance, and decisioning strategies,” added Siegfried.
Top Bank Uses Find My Offer to Reduce Development Costs and Increase Speed to Market
Early adopters of Find My Offer are already realizing impactful benefits from the solution. A top 20 national bank recently utilized Find My Offer to increase online acquisitions. Its IT team estimated a six month development cycle to build a customer-facing site to initiate credit offers online. Using Find My Offer, the bank saved more than 40% in development costs and was able to present relevant, tailored offers to consumers within three weeks – approximately 20 weeks earlier than what was projected using internal IT resources.
“Using Find My Offer, lenders have flexibility to seamlessly integrate the microsite with their own website, with added confidence that their offers are matching underwriting criteria,” added Siegfried. “Find My Offer significantly improves not only the consumer online experience, but also the speed at which lenders can present a relevant offer.”
To learn more about Find My Offer, visit transunion.com/find-my-offer.
About TransUnion (NYSE:TRU)
Information is a powerful thing. At TransUnion, we realize that. We are dedicated to finding innovative ways information can be used to help individuals make better and smarter decisions. We help uncover unique stories, trends and insights behind each data point, using historical information as well as alternative data sources. This allows a variety of markets and businesses to better manage risk and consumers to better manage their credit, personal information and identity. Today, TransUnion has a global presence in more than 30 countries and a leading presence in several international markets across North America, Africa, Latin America and Asia. Through the power of information, TransUnion is working to build stronger economies and families and safer communities worldwide.