TransUnion (TRU) Baird 2024 Global Consumer, Technology & Services Conference summary

Recent financial performance and guidance

• Achieved 8% growth in Q1 2024, with 5% ex-mortgage, exceeding guidance by about 2%.

• International markets, especially India and Canada, showed strong performance.

• Raised guidance for mortgage segment due to better price realization and utilization.

• Core financial services verticals are stable, but overall outlook remains cautious due to macro uncertainty.

• No signs of incremental weakening in key markets; stability is the prevailing trend.

Market trends and segment highlights

• Insurance vertical is recovering, with large insurers resuming marketing and acquisition activities.

• Fraud and marketing products, powered by the OneTru platform, are gaining traction in tech, e-commerce, retail, and public sector.

• US fintech revenue was $140M in 2023, showing resilience and early signs of recovery.

• UK fintech market faced challenges, but core banking volumes are improving; India and Canada fintechs are growing well.

• Canadian business grew 18% in Q1, aided by a major bank win and fintech momentum.

Innovation and product development

• OneTru platform integrates data from multiple acquisitions, enhancing fraud and identity solutions.

• Developers now access all data types on a single platform, improving efficiency and innovation.

• TruValidate, the new fraud product, is in beta and set for full launch in H2 2024.

• Public sector, technology, and e-commerce are emerging focus areas for new use cases.