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Green Dot Corporation (GDOT) - $25 value - yours FREE >>
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TransUnion (TRU) Teams Up With Truework for Verified Income
TransUnion (TRU - Free Report) shares have gained 31.8% in the past six months, significantly outperforming the 12% rally of the industry it belongs to and the 14.5% growth of the Zacks S&P 500 composite.
The company announced yesterday that it has collaborated with Truework, a leading provider of verification of income and employment (VOIE) services in the United States. TransUnion made a minority investment in Truework earlier this year.
TransUnion Price
TransUnion price | TransUnion Quote
Founded in 2017, Truework is a provider of a one-stop platform for VOIE information that enables lenders to assess users and approve loans through their own applications.
Due to the partnership, Truework is now a preferred provider of verified income data to TransUnion’s customers. This means that the company will now sell Truework’s income verification product, as well as its main credit product, to customers through a single API.
The move is part of TransUnion’s bid to cater to the increased demand for VOIE services and lay the foundations for the next generation of VOIE solutions that the duo is planning to develop.
“We expect that our collaboration will allow customers to derive superior insights and make more informed decisions by providing a broader view of consumers,” said Hilary Chidi, EVP, Credit Risk Solutions and chief sustainability officer of TransUnion.
Zacks Rank and Stocks to Consider
The company currently carries a Zacks Rank #4 (Sell).
Investors interested in the Zacks Business Services sector can consider the following better-ranked stocks:
Maximus (MMS - Free Report) : MMS sports a Zacks Rank of 1 (Strong Buy) at present and has a VGM Score of B. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company has an impressive earnings surprise history, beating the Zacks Consensus Estimate in three instances and missing once, the average surprise being 9.6%.
Green Dot (GDOT - Free Report) : GDOT currently carries a Zacks Rank #2 (Buy) and has a VGM Score of A.
The company has an impressive earnings surprise history, beating the consensus mark in all the trailing four quarters, with an average surprise of 37.3%.