TransUnion teams up with FinCheck for credit access
DURBAN - GLOBAL information and insights company TransUnion has partnered with South Africa’s financial marketplace, Fincheck, to ease credit application processes for consumers.
TransUnion Africa director of emerging markets, Hans Zachar, said yesterday that the TransUnion/Fincheck partnership would assist consumers in managing their finances.
“By working with Fincheck, we’re helping to increase financial awareness and access to credit,” said Zachar. Fincheck said it had seen a lot of interest from consumers wanting to improve their credit scores owing to the Covid-19-induced economic squeeze.
According to Fintech data, there has been increased demand for reports this month as consumers became concerned about their credit, because of an increase in spending over the festive period.
TransUnion helps provide a comprehensive picture of each applicant. By combining the strengths of the two companies, Fincheck would then be able to allocate the right lead to the right bank, lender or insurer, thereby saving time for all parties.
Fincheck chief executive Michael Bowren said: “Checking that the information held on you is accurate before making an application can be an invaluable tool that can help you understand your financial options more clearly.