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Highlights

  • TransUnion acquires Monevo, a platform for personalized credit offers and prequalification.
  • Monevo’s technology integrates over 150 global lenders, enhancing online credit shopping experiences.
  • Acquisition aims to improve access to credit for consumers in the U.K. and U.S.

TransUnion (NYSE: TRU) has completed the acquisition of Monevo, a U.K.-based credit prequalification and distribution platform. Monevo’s platform helps lenders and banks deliver personalized credit offers to consumers through comparison websites and third-party publishers. The acquisition follows a January announcement of the definitive agreement and marks the completion of a transaction where TransUnion had already held a 30% equity stake in Monevo since 2021.

Monevo’s platform integrates over 150 global banks and credit providers, offering consumers the ability to prequalify for credit products before applying. This prequalification process helps consumers assess their likelihood of approval without affecting their credit scores, thus improving their credit shopping experience. The platform is particularly prevalent in the U.K. and U.S., where it serves as a tool for consumers to compare various credit offers and make more informed financial decisions.

Steve Chaouki, President of U.S. Markets at TransUnion, expressed enthusiasm about the acquisition, highlighting Monevo’s ability to enhance the company’s portfolio and its value proposition to lenders. The addition of Monevo’s capabilities aligns with TransUnion’s mission to foster trust in global commerce, ensuring a better and more efficient consumer lending process.

Madhu Kejriwal, Regional President of TransUnion U.K. & Europe, emphasized the expected benefits for both consumers and lenders. The acquisition is anticipated to enable better credit distribution economics for lenders and enhance the personalization of online credit shopping, which will allow consumers to receive tailored credit offers without negatively impacting their credit scores.