Expanding Credit Access with TransUnion Canada’s TruVision Trended Risk Score
Toronto, March 19, 2025 – TransUnion Canada, a leading global information and insights company, is revolutionizing the credit industry with its innovative TruVision Trended Risk Score. This advanced scoring model is designed to help expand credit access for new Canadians and those new to the credit market by providing a more comprehensive view of a person’s payment behaviour and creditworthiness.
What is the TruVision Trended Risk Score?
The TruVision Trended Risk Score is an advanced credit scoring model that leverages new algorithms and attributes to provide deeper insights on consumers. This scoring model goes beyond traditional credit scoring by utilizing data that captures how consumer credit spending and payment patterns have evolved since the pandemic.
How Does it Help New-to-Credit Consumers?
For New-to-Credit (NTC) consumers, the TruVision Trended Risk Score is particularly valuable. NTC consumers are often overlooked by lenders due to their limited credit history. However, the TruVision Trended Risk Score leverages the power of signals early in their credit tenure to better predict future risk.
By analyzing payment patterns and other financial data, the TruVision Trended Risk Score can help lenders make more informed decisions about extending credit to NTC consumers. This not only expands credit access for these individuals but also allows them to build a credit history and grow financially.
Impact on Individuals
As a consumer, the TruVision Trended Risk Score can have a significant impact on your ability to access credit. If you are an NTC consumer or have a limited credit history, this scoring model can help lenders understand your financial situation more accurately. By providing a more comprehensive view of your payment behaviour and creditworthiness, you may be more likely to be approved for credit products, such as loans or credit cards.
Impact on the World
The TruVision Trended Risk Score is not just beneficial for individuals but also for the world as a whole. Expanding credit access can help individuals and families improve their financial situation, leading to better economic outcomes for communities and countries.
Moreover, the TruVision Trended Risk Score can help financial institutions make more informed lending decisions, reducing the risk of default and improving the overall stability of the financial system.
Conclusion
TransUnion Canada’s TruVision Trended Risk Score is a game-changer in the credit industry. By leveraging new algorithms and attributes, this scoring model provides deeper insights on consumers, helping to expand credit access for new Canadians and those new to the credit market. For individuals, this can mean better access to credit products and the opportunity to build a credit history. For the world, it means a more stable financial system and improved economic outcomes for communities and countries.
- TransUnion Canada’s TruVision Trended Risk Score expands credit access for new Canadians and those new to the credit market
- Utilizes data that captures how consumer credit spending and payment patterns have evolved since the pandemic
- Helps lenders make more informed decisions about extending credit to NTC consumers
- Provides a more comprehensive view of payment behaviour and creditworthiness
- Can lead to better economic outcomes for individuals and communities
