Optimize the customer shopping experience via channel partners with real-time credit options
TransUnion Offers Hub allows financial institutions (FI) and digital players — like ecommerce firms, POS providers, retail stores, etc. — to connect online and offer customers preferential/customized credit products. When seeking to onboard customers, an easy option for FIs is to leverage their huge liability customer base. KYC documentation can be waived off in the case of existing customers, which is a primary advantage. Lenders can analyze the credit behavior of liability customers and assign appropriate credit limits. But, in order to entice customers to use pre-approved credit limits, you need to access channels where they make high-ticket purchases, and integrating with these players individually is time-consuming and involves considerable technical efforts.
TransUnion Offers Hub helps solve for this problem. This single platform links multiple channel partners to a particular FI and vice-versa — removing the need for separate integrations. End customers also benefit as they’ll be able to check for available offers from all FIs at the same time. These customers can complete their journey by choosing an offer and being onboarded with the respective FI in real time.
Once onboarded onto Offers Hub, financial institutions can access all the digital channels integrated with TransUnion. They’ll be required to create a pre-approved base comprising customers to whom they want to offer real-time credit. They’ll host that base with TransUnion or in their premises and provide API-based connectivity.
Easy access to credit can lead to more purchases of high-value items, thereby increasing gross merchandise value of all channel partners. Customers of these channel partners will have a better buying experience through the option to purchase items on instant credit from multiple financial institutions at the same time. In turn, this can build loyalty among customers and grow repeat purchases.
Limit management functionality is also part of this middleware that all partner financial institutions can avail to ensure the customers in their base aren’t overleveraged.
A middleware enabling financial institutions and digital players to connect to offer customers asset products
Offers Hub for check out financing
The TransUnion platform effectively acts as middleware between the demand and the supply side, helping you scale the one-button, online checkout experience for customers across varied lending products.
Offers Hub for lead generation
A middleware orchestrating a digital experience between ecommerce/FinTech players and financial institutions, enabling real-time credit offers. This facilitates sales and increases affordability while also creating possibilities to upsell and cross-sell a host of banking products.
Multichannel lead distribution
Prospect scrub and credit policy execution
Client’s lead filtering criteria
Lead conversion monitoring