TransUnion Partners with Snowflake to Provide On-demand Access to Pseudonymized Credit Data

CHICAGO, Aug. 07, 2024 (GLOBE NEWSWIRE) -- TransUnion (NYSE: TRU) today announced its partnership with Snowflake, the AI Data Cloud company, to launch TruIQ^TM Data Enrichment on Snowflake Marketplace. TruIQ Data Enrichment’s availability on Snowflake Marketplace will provide joint customers with unlimited, on-demand access to pseudonymized TransUnion credit data in the Snowflake AI Data Cloud.      

The need for such a solution is clear. According to a recent Forrester Research survey, more than 85% of organizational cloud decision-makers say that cloud-native technology is essential to accelerating architecture modernization, achieving workload decentralization, or enabling platform-driven innovation. At the same time, however, another recent Forrester survey shows that one of the greatest challenges organizations face today involves ready, quick, and efficient access and availability of data for analytics, with one in five citing it as a main data management and security challenge for their organization.

TruIQ Data Enrichment allows organizations to address these data challenges. Through its proprietary linking capability, TruIQ Data Enrichment enriches first and third-party data with TransUnion credit data, in a pseudonymized manner within the Snowflake AI Data Cloud, while eliminating setup time and data movement between various platforms for customers.

“TransUnion developed TruIQ Data Enrichment specifically to meet the critical need of our joint customers to quickly access and link credit data,” said Patrick White, vice president of strategic initiatives at TransUnion. “This app enables faster access to pseudonymized TransUnion credit data, the ability to link it with first and third party datasets, and ultimately make a bigger impact throughout the analytic and marketing journeys.”

Benefits from TruIQ Data Enrichment include:

• Optimized identity resolution: TruIQ Data Enrichment offers a more well-rounded view of data by integrating their first and third-party data with pseudonymized TransUnion credit data.
  
• Control over sensitive data: Limit the exposure of sensitive data by allowing data to be kept in one place.
  
• Minimum data movement: Bring all TransUnion credit data into Snowflake in a pseudonymized manner while avoiding inherent delays, risks and costs that come with moving data across platforms or vendors.
  

“TransUnion and Snowflake share the common understanding that control of data use and the best possible protection of that data is a winning combination for our customers,” said Kieran Kennedy, Global Head, Strategic Data Cloud Principal, Snowflake. “Snowflake customers want more control over the movement of their data as well as the ability to match with TransUnion credit data. With the capabilities offered through TruIQ Data Enrichment, customers can get insights and update strategies faster than ever, thanks to having an even stronger view of the data than they have had before – all while ensuring the safety and security of that data.”

TruIQ Data Enrichment is derived from OneTru ^TM, TransUnion’s new solution enablement platform for managing, governing, analyzing and delivering data and insights. The OneTru platform connects separate data and analytic assets built for credit risk, marketing and fraud prevention and concentrates them in a single, layered and unified environment that sits at the core of TransUnion’s business.

Snowflake Marketplace is powered by Snowflake’s ground-breaking cross-cloud technology, Snowgrid, allowing companies direct access to raw data products and the ability to leverage data, data services, and applications quickly, securely, and cost-effectively. Snowflake Marketplace simplifies discovery, access, and the commercialization of data products, enabling companies to unlock entirely new revenue streams and extended insights across the Data Cloud. To learn more about Snowflake Marketplace and how to discover, evaluate, and purchase the data, data services, and applications needed to innovate for business, click here.

For more information about TruIQ Data Enrichment and to watch a video to learn more, please click here.

About TransUnion (NYSE: TRU)

TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.

http://www.transunion.com/business