TransUnion Hong Kong’s 40th Anniversary - Building Trust Together

A solid foundation of trust that helps Hong Kong people’s dreams come true


TransUnion established our Hong Kong business in 1981 and built Hong Kong’s first credit database. This objective, analytics-driven credit rating system was the first important step in creating a credit rating ecosystem and developing a credit economy in Hong Kong. We call this Information for Good®.

Before TransUnion entered Hong Kong, financial institutions had to rely on information provided by borrowers or information exchanged with other organisations to make decisions about loan applications. The approval process was complicated and increased the risk of bad debts.

Over those 40 years, TransUnion has worked closely with the financial industry, listened to feedback, and formulated and optimised the credit rating system. All of this helps make TransUnion credit reports more accurate, reliable and reflective of consumers’ actual credit situations, which enables better risk management and helps build a solid foundation of trust between financial organisations and consumers.

We also simplified the loan application approval process, minimised the supporting information required from consumers, and reduced the time for approval, which helps consumers achieve their dreams sooner. Additionally, TransUnion actively works with social services organisations to educate consumers on the importance of maintaining good credit habits. This has helped Hong Kong maintain one of the lowest delinquency rates among developed markets[1].

Today, the use of TransUnion credit reports has been extended beyond credit activities, such as in human resources hiring processes, immigration applications and overseas property purchases. We continue to develop innovative technologies, data applications and services for FinTech and financial organisations. For instance, we recently launched our TruValidate™ eKYC online identity verification solution and TruValidate one-stop digital onboarding solution.

Forty years ago TransUnion started with 12 financial customers. During the ensuing four decades, we have developed partnerships with more than 100 banks and financial institutions. Going forward, we will continue to build trust between financial organisations and consumers while extending our services to the Greater Bay Area. Together, we will continue to strengthen Hong Kong as an international financial center and help make Hong Kong consumers’ dreams come true, today and for the next 40 years.

[1]Source:TransUnion Hong Kong Industry Insights report