TransUnion won a Gold award at the prestigious annual Assegai Awards, in the category “Technology & Innovations: Mobile & Electronic Commerce” for its new MobileCredit solution. The annual Assegai Awards celebrates excellence in direct marketing and is sponsored by the Direct Marketing Association (DMA) of South Africa. TransUnion was one of 43 award winners out of 147 entries from more than 40 agencies, corporations and individuals.
TransUnion’s MobileCredit solution reinvents the way that consumers and organisations conduct business with each other, using technology. The solution enables a consumer to apply for credit by simply sending a SMS to a short code indicating their ID Number, Name, Surname, Income and Expense. Within a few seconds, the consumer receives a reply from the SMS server. An approved (referred or declined) SMS for credit with a reference and contact number is sent to the applicant. Approved customers can collect their store card at the nearest store, after providing identification documentation and signing the credit agreement. From a consumer perspective, the solution has the ability to reach the entire South African population, and enable consumers to apply for credit from wherever they are.
Dr. Mohammed Razzak, Executive Director: Analytics, from TransUnion Analytic and Decision Services (ADS) comments: “The SMS account application solution allows us to offer our clients an innovative solution that enables consumers to access credit in a convenient and consumer friendly way.”
The solution includes the use and integration of credit bureau data, customised client policy rules, fraud prevention, affordability and risk models. The MobileCredit solution also caters for the National Credit Act. In the background TransUnion’s agile DecisionCentre software engine automates this sophisticated process.
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