TransUnion wins silver at annual Assegai Awards

Dr Mohammed Razzak, Executive Director: Analytics, from TransUnion Analytic and Decision Services in South Africa

For the second year in a row, TransUnion has been recognised at the prestigious Assegai Awards for its patented MobileCredit ^TM solution. TransUnion was awarded a silver Assegai in the category Technology and Innovations: Mobile and Electronic Commerce. The annual Assegai Awards celebrates excellence in direct marketing and is sponsored by the Direct Marketing Association of South Africa. The Assegai awards entries increased by 42 percent from last year’s event with more than 140 entries being submitted.

Available on Mobi (WAP) with mobile authentication, 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 an SMS indicating their ID number, name, surname, income and expense to a short code. Utilising an advanced authentication engine, MobileCredit also has the ability to authenticate consumers based on their credit behaviour. The consumer is requested to answer a few customised questions in order to authenticate his or her identity. Within a few seconds, the consumer receives a reply SMS containing a reference number and contact information. A successful applicant can then collect the store card at their 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 in South Africa, commented: “MobileCredit allows us to offer our clients an innovative solution that enables consumers to access credit in a convenient, safe and consumer-friendly way.”

The solution includes the use and integration of credit bureau data, customised client policy rules, fraud prevention; authentication; affordability and risk models. In the background, TransUnion's agile DecisionCentre^TM software engine automates this sophisticated process. The MobileCredit solution is aligned with the National Credit Act.