Business Solutions

A powerful suite of risk, compliance, marketing and sales solutions

Tools to Grow Your Business Lending Portfolio as a Business Lender

As a credit lender, you’ll face many challenges in growing and maintaining a healthy portfolio. One of the biggest challenges is getting accurate and comprehensive data on businesses applying for credit. It all comes down to assessing businesses to help you understand if they are financially sound, offer low risk and high return. But how do you determine that?

This is where TransUnion’s Business Solutions come in. We give you a holistic view of not only the business owners but also the business itself, transforming the way in which you extend credit. With our solutions, you’ll be able to extend credit more confidently and drive the profitability of your portfolio.

With Business Solutions you can:
  • Evaluate legitimacy of business records through the corporate profile, including directors and owners to assist you with assessing the businesses you deal with
  • Assess the risk of a business with our unique, business-specific risk score
  • Gain insights into the business’ finances, as well as payment history with suppliers
  • Streamline and improve your onboarding process
  • Further optimize your credit policies and campaigns
  • Benchmark your portfolio against others in the industry
  • Identify unique prospecting opportunities and generate new leads
Business Lending – Cumbersome Processes and Fragmented Data

Business Lending Cumbersome Processes

The main issue with business lending processes in today’s market is that they’re cumbersome due to lack of readily available and consumable data. Without accurate data, it’s difficult to determine the financial health and creditworthiness of businesses.

With the comprehensive data our solutions offer, credit lenders are now easily able to overcome problems, including:

  • Fragmented data sources
  • Limited consumer credit view
  • New compliance regimes, such as Know Your Customer, Know Your Business & Anti Money Laundering
  • Complex, manual onboarding processes
  • Customer experience friction
  • Limited account management tools

Our Business Solutions Offer Comprehensive Business Data

Bank trade information:
Current and historical performance information on business banking relationships for key credit facilities to provide a holistic view of the health of the business from an overall risk perspective. This data comes from Canada’s largest banks, as well as credit unions and other lenders

Trade supplier information:
Exclusive access to trade supplier data for insight into payment behavior on trade supplier relationships

Business demographic information:
This includes legal name and ‘operating as’ company name.

Business firmographic information:
Access SIC & NAIC codes as well as employee size.

National public record data: View public record data, such as legal items, judgements, bankruptcy information, PPSA and collection items.

Business registration information:
Including business legal name, registration number and active status.

This data can be delivered transactionally in a report, or mined to provide insights that can be used for analytics, model building, operational efficiencies or even marketing.
Business Solutions
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For more information on Business Solutions and other TransUnion offerings, visit transunion.ca/business