How lenders can increasingly help savvy consumers

Economic uncertainty and rising living costs mean financial awareness has never been more crucial.

As the industry increases its focus on prioritising credit education, finance providers are called upon to play an active role in fostering awareness and empowering consumers by providing the appropriate tools and support.

Credit education is essential, in order to help people take control of their financial wellbeing, improve their creditworthiness and develop healthy financial habits. TransUnion’s recent Consumer Pulse showed that 75 per cent of those who frequently monitor their credit report feel more in control of their financial health.

Initiatives like our award-winning partnerships with leading banks, aggregators and finance providers are helping to spread that message, giving consumers a greater understanding of credit information and how it’s used, so that they can better understand and manage their financial well-being.

Our previous analysis has shown a quarter of consumers use a credit monitoring tool to check their credit score before applying for a financial product. Therefore, understanding the fundamentals of credit information, including credit scores and the factors that affect them, can help consumers make more informed choices and better understand how their financial decisions can affect their future. 

That’s why, here at TransUnion we’re dedicated to providing innovative solutions to help businesses – and the consumers they serve – to navigate today’s financial landscape with confidence.

TransUnion’s new eBook, ‘CreditView: Using Credit Data Insights And Tools To Create Brighter Futures’ aims to help lenders understand the ways in which they can support their customers’ credit education as well as build stronger relationships and increase trust and loyalty.

Download the eBook to learn more.