TransUnion has announced a minority investment in and strategic partnership with Omnisient, a South African FinTech that offers a privacy preserving data collaboration and advanced analytics platform. The Omnisient platform enables businesses to securely access high value consumer data and integrate alternative datasets for smart decision making.
Lee Naik, Regional President/CEO of TransUnion Africa, noted that traditional data models often exclude many African consumers from credit access. Integrating alternative data is crucial to bridging this gap and promoting financial inclusion.
Jon Jacobson, Omnisient’s co founder and CEO, highlighted the platform’s ability to enable secure data collaboration between financial services and consumer brands, allowing them to discover, validate and commercialise new alternative data sources without having to exchange sensitive personal information.
This collaboration is a natural step in TransUnion’s strategy to expand financial inclusion across Africa.. By responsibly harnessing new alternative data sources at scale , TransUnion sees the opportunity to expand credit access and drive economic empowerment across the continent.
For information visit www.omnisient.com
