Global information and insights company TransUnion has today announced its partnership with the Vulnerability Registration Service , a not-for-profit organisation dedicated to supporting vulnerable consumers. This partnership marks a significant step forward in understanding and addressing consumer vulnerabilities in the UK.

VRS offers consumers a single platform to register their vulnerable status, sparing them from repetitive and challenging conversations with various lenders and organisations. This partnership allows TransUnion clients access to an independent register of vulnerable individuals, empowering them to identify vulnerabilities and make informed decisions in alignment with regulatory guidance.

Kelli Fielding, chief product officer at TransUnion in the UK, comments: “Our collaboration with VRS marks a significant leap in understanding consumer vulnerabilities. Our data shows that financial and non-financial vulnerabilities are linked and by combining these datasets, we empower lenders to offer tailored support. This underscores our commitment to Information for Good, driving positive change and better outcomes for all."

As the only credit reference agency to partner with VRS, TransUnion’s pioneering approach allows an enhanced understanding of consumer vulnerabilities. By combining financial and non-financial data, TransUnion offers a detailed and distinctive view of individuals' vulnerability profiles, tailoring services to their needs. This collaboration supports regulators' emphasis on customer service excellence, providing clients with deeper insights to make informed decisions and enhance outcomes for consumers. 

Rooted in its commitment to supporting vulnerable consumers, the partnership will deliver actionable insights that drive positive change and help protect vulnerable consumers. By integrating VRS data, TransUnion provides a nuanced understanding of consumer vulnerability, surpassing traditional affordability assessments and fostering trust, whilst facilitating positive outcomes for lenders and their customers.

Helen Lord, chief executive officer at VRS, added: “Partnering with TransUnion signifies a pivotal moment in our mission to support vulnerable consumers. By uniting our efforts, we're streamlining consumer access to vital assistance while fostering a more inclusive financial landscape. This collaboration exemplifies our dedication to empowering individuals and promoting positive outcomes."