TransUnion Appointed to Support New Multiple Credit Reference Agencies Model in Hong Kong
TransUnion (NYSE: TRU), a leading global information and insights company, is pleased to announce that it has been appointed as a credit reference agency under the new Multiple Credit Reference Agencies (“MCRA”) model, as announced by the Hong Kong Association of Banks (HKAB), The DTC Association (The Hong Kong Association of Restricted Licence Banks and Deposit-taking Companies), and the Hong Kong S.A.R. Licensed Money Lenders Association Limited (collectively “Industry Associations”) today.
“At TransUnion, we are honored to be entrusted as a credit reference agency to support the future of the credit economy in Hong Kong,” said Marie Claire Lim Moore, regional president of Asia Pacific and CEO of Hong Kong at TransUnion. “We have a long history of helping banks and money lenders in Hong Kong manage credit risk and enabling consumers from all walks of life to access credit and achieve their aspirations. As we embark on this new chapter, we are confident that our strong local experience and global expertise, combined with our continuous pursuit of innovation and investment in talent, will position us well for the opportunities ahead.”
TransUnion supports the introduction of the MCRA and is confident that it will bring long-term benefits to the Hong Kong economy. TransUnion has been contributing significant expertise and resources to help make the transition process to this new model a success and will continue to work closely with regulators, Industry Associations, banks and money lenders to promote financial inclusion and further Hong Kong’s credit economy in the future.
Lim Moore concluded, “Hong Kong has a proud heritage as a global financial center with an advanced credit economy. TransUnion’s vision of making trust possible between consumers and businesses in global commerce is at the heart of everything we do, and today’s announcement is an important step in the evolution of the Hong Kong market.”