TransUnion is one of the three major credit-reporting agencies. Along with Experian and Equifax, TransUnion provides information and credit management to consumers. Its work with business clients involves managing risk, reducing costs and increasing revenue through delivery of data and analysis.
The Company
TransUnion's headquarters is in Chicago. Begun in 1968, the company today has a presence in five continents and 25 countries. The employee base is greater than 3,100.
Company Firsts
TransUnion replaced manual data entry with the first automated system of tape-to-disc transfer. The company also created the first storage and retrieval system for online data processing call the credit reporting on-line network utility system, or CRONUS.
Consumer Identity Protection
In 1992, TransUnion developed the fraud victim assistance department, which works to fight and prevent financial crimes.
History
Begun as a rail car leasing organization, TransUnion was originally known as the Union Tank Car Co. It bought the Credit Bureau of Cook County, Illinois, in 1969, only one year after its founding. By 1988, the company had gained national coverage of the maintenance and data management of all U.S. consumers.
Statistics
Each month, TransUnion manages about 2 billion pieces of data of hundreds of millions of consumers around the world. As of 2007, it was the first credit reporting bureau in the United States to own its database.
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