TransUnion (TRU): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage complexe des services d'information sur le crédit mondial, TransUnion est un acteur charnière, transformant les données brutes en informations puissantes qui stimulent la prise de décision financière. En tirant parti des analyses sophistiquées et d'un vaste réseau de sources d'information, cette entreprise dynamique a révolutionné la façon dont les entreprises et les consommateurs comprennent et gérent le risque de crédit. Des outils de détection de fraude sophistiqués aux solutions complètes d'évaluation des risques, le modèle commercial innovant de TransUnion représente une intersection sophistiquée de la technologie, de la science des données et de l'intelligence financière qui habilite les organisations dans divers secteurs.

TransUnion (TRU) - Modèle d'entreprise: partenariats clés

Bureau de crédit et institutions financières

TransUnion maintient des partenariats stratégiques avec:

Type de partenaire	Nombre de partenariats	Valeur de collaboration annuelle
Banques	2,300+	487 millions de dollars
Coopératives de crédit	850+	156 millions de dollars
Prêteurs en ligne	450+	213 millions de dollars

Fournisseurs de technologies et d'analyse de données

Les partenariats technologiques clés comprennent:

• Services cloud IBM
• Services Web Amazon
• Microsoft Azure
• Plateforme de données SnowFlake

Agences gouvernementales et organismes de réglementation

Type d'agence	Portée de collaboration	Budget de conformité annuel
Commission du commerce fédéral	Compliance de la protection des consommateurs	42 millions de dollars
Bureau de protection financière des consommateurs	Représentation réglementaire	38 millions de dollars

SOCIETS LOGICIELS ET Cloud Computing

Les partenariats logiciels de TransUnion se concentrent sur:

• Plateformes de détection de fraude
• Intégration d'apprentissage automatique
• Systèmes de gestion des risques basés sur le cloud

Réseaux d'informations internationales sur le crédit

Région	Nombre de connexions réseau	Investissement annuel du réseau
Europe	28 pays	124 millions de dollars
Asie-Pacifique	15 pays	87 millions de dollars
l'Amérique latine	12 pays	65 millions de dollars

TransUnion (TRU) - Modèle d'entreprise: activités clés

Évaluation du crédit et évaluation des risques

TransUnion gère les données de crédit pour 1 milliard de consommateurs individuels dans le monde. En 2022, la société a traité plus de 90 000 demandes de crédit par minute. Le portefeuille d'évaluation des risques couvre 215 millions de consommateurs américains et 40 000 entreprises.

Métrique	Valeur
Couverture mondiale des consommateurs	1 milliard d'individus
Couverture des consommateurs américains	215 millions
Profils commerciaux	40 000 entreprises

Collecte et analyse des données

TransUnion recueille des données à partir de plusieurs sources, notamment:

• Institutions financières
• Sociétés de cartes de crédit
• Dossiers du gouvernement
• Bases de données publiques

Source de données	Dossiers annuels traités
Institutions financières	500 millions de dossiers de crédit
Sociétés de cartes de crédit	250 millions d'enregistrements de transactions

Développement d'outils d'analyse prédictive

TransUnion a investi 345 millions de dollars dans la R&D en 2022, en se concentrant sur l'apprentissage automatique avancé et les modèles prédictifs dirigés par l'IA. La société maintient 15 centres de recherche dédiés dans le monde.

Investissement en R&D	Centres de recherche
345 millions de dollars (2022)	15 centres mondiaux

Services de vérification de l'identité du client

TransUnion traite quotidiennement des demandes de vérification d'identité de 2,5 millions d'identités, avec un taux de précision de 99,7%. La plate-forme de vérification numérique prend en charge plusieurs méthodes d'authentification.

• Vérification du document numérique
• Authentification biométrique
• Vérification multi-facteurs

Solutions de détection de fraude et de prévention

En 2022, TransUnion a aidé à empêcher 22,5 milliards de dollars de pertes de fraude potentielles. Les outils de détection de fraude de l'entreprise couvrent les risques numériques, financiers et liés à l'identité.

Métrique de prévention de la fraude	Valeur 2022
Empêté les pertes de fraude	22,5 milliards de dollars
Précision de détection de fraude	98.3%

TransUnion (TRU) - Modèle commercial: Ressources clés

De vastes bases de données de crédit aux consommateurs

TransUnion maintient une couverture de base de données de crédit:

• Plus d'un milliard de profils de crédit individuels dans le monde
• Données de plus de 30 pays
• Aux États-Unis, environ 200 millions de dossiers de crédit aux consommateurs uniques aux États-Unis

Métrique de la base de données	Quantité
Profils totaux des consommateurs	1,1 milliard
Fichiers de consommation américains	200 millions
Couverture géographique	30+ pays

Technologies d'analyse de données avancées

L'infrastructure technologique de TransUnion comprend:

• Algorithmes d'apprentissage automatique Traitement de 40 téraoctets de données par jour
• Plateformes d'intelligence artificielle pour l'analyse prédictive
• Systèmes de traitement des données basés sur le cloud

Portefeuille de propriété intellectuelle

La propriété intellectuelle de TransUnion comprend:

• Plus de 50 brevets enregistrés
• Algorithmes d'évaluation des risques propriétaires
• Technologies uniques de correspondance et de vérification des données

Réseau mondial de sources d'information

Caractéristique du réseau	Détail
Partenariats des institutions financières	5,000+
Points de collecte de données	10 000+ sources mondiales
Fréquence de mise à jour des données en temps réel	Continu

Professionnels de la science et de la technologie des données qualifiées

Statistiques du capital humain de TransUnion:

• Total des employés: 10 681 (à partir de 2023)
• Professionnels de la technologie et de la science des données: environ 3 500
• Investissement annuel dans la formation des employés: 15,2 millions de dollars

Catégorie professionnelle	Nombre
Total des employés	10,681
Professionnels de la science des données	3,500
Experts en technologie	2,100

TransUnion (TRU) - Modèle d'entreprise: propositions de valeur

Solutions complètes de gestion des risques de crédit

TransUnion fournit des solutions de gestion des risques de crédit avec les mesures clés suivantes:

Catégorie de solution	Revenus annuels	Couverture du marché
Solutions de risque de crédit d'entreprise	1,2 milliard de dollars	85% des entreprises du Fortune 500
Évaluation du crédit pour les petites entreprises	345 millions de dollars	62% des entreprises du marché intermédiaire

Informations de crédit aux consommateurs précises et opportunes

TransUnion maintient de vastes bases de données de crédit aux consommateurs:

• Total des enregistrements de consommation: 1 milliard à l'échelle mondiale
• Mises à jour du rapport de crédit mensuel: 200 millions
• Précision moyenne des cotes de crédit: 97,5%

Services avancés de vérification d'identité

Type de service	Volume de transaction annuel	Taux de précision
Vérification de l'identité numérique	2,3 milliards de transactions	99.3%
Chèques de prévention de la fraude	1,7 milliard de projections	98.6%

Outils de prévention de la fraude et de détection

Les offres de prévention de la fraude de TransUnion comprennent:

• Économies annuelles de détection de fraude: 3,2 milliards de dollars
• Modèles d'apprentissage automatique: 450+ variations algorithmiques
• Taux de détection de fraude en temps réel: 99,7%

Informations financières personnalisées

Catégorie de perspicacité	Utilisateurs annuels	Revenus générés
Perspectives financières des consommateurs	45 millions	678 millions de dollars
Rapports de l'intelligence d'affaires	22 000 clients d'entreprise	1,1 milliard de dollars

TransUnion (TRU) - Modèle d'entreprise: relations clients

Plates-formes de libre-service numériques

TransUnion propose des plateformes en ligne avec 4,4 millions d'utilisateurs numériques actifs à partir de 2023. L'application mobile True Identity fournit une surveillance du crédit en temps réel pour 49,3 millions d'utilisateurs enregistrés. L'engagement de la plate-forme numérique génère environ 287 millions de dollars de revenus annuels à partir des fonctionnalités en libre-service.

Métriques de plate-forme numérique	2023 données
Utilisateurs numériques actifs	4,4 millions
Utilisateurs enregistrés par application mobile	49,3 millions
Revenus de plate-forme numérique	287 millions de dollars

Équipes de support client dédiées

TransUnion maintient 1 200 représentants de support client dédié dans 5 centres de soutien mondiaux. Le temps de réponse moyen du service client est de 12 minutes, avec une note de satisfaction client de 87%.

Services automatisés de surveillance du crédit

TransUnion fournit une surveillance automatisée du crédit pour 200 millions de dossiers de crédit à la consommation. Les services automatisés génèrent 642 millions de dollars de revenus récurrents annuels. Les caractéristiques de surveillance automatisées clés comprennent:

• Suivi des points de crédit en temps réel
• Notifications d'alerte de fraude
• Protection contre le vol d'identité
• Mises à jour du rapport de crédit

Solutions de niveau d'entreprise personnalisées

Les solutions d'entreprise desservent 90 000 clients commerciaux dans les services financiers, les soins de santé et le gouvernement. Les solutions d'entreprise personnalisées génèrent 1,2 milliard de dollars de revenus annuels avec une valeur de contrat moyenne de 135 000 $.

Métriques de la solution d'entreprise	2023 données
Clients commerciaux totaux	90,000
Revenus de la solution d'entreprise	1,2 milliard de dollars
Valeur du contrat moyen	$135,000

Précision des données et règlement des différends en cours

TransUnion traite 3,2 millions de demandes de litige des consommateurs par an avec un taux de résolution de 92%. La vérification de la précision des données implique 1,7 million de modifications du rapport de crédit par an.

• Demandes de litiges annuels: 3,2 millions
• Taux de règlement des différends: 92%
• Modifications du rapport de crédit: 1,7 million

TransUnion (TRU) - Modèle commercial: canaux

Portails Web en ligne

TransUnion exploite plusieurs portails Web desservant différents segments de clientèle:

Nom de portail	Public cible	Trafic mensuel
Vraisemblance	Consommateurs	2,3 millions de visiteurs uniques
Portail de crédit commercial	Entreprises commerciales	450 000 utilisateurs professionnels

Applications mobiles

TransUnion maintient les plateformes mobiles sur iOS et Android:

• Application mobile True Identity: 1,7 million d'utilisateurs mensuels actifs
• Application de surveillance du crédit: 1,2 million de téléchargements en 2023
• Évaluation moyenne de l'application: 4.3 / 5 sur toutes les plateformes

Équipes de vente directes

La structure des ventes de TransUnion comprend:

Segment des ventes	Taille de l'équipe	Les revenus annuels générés
Ventes d'entreprise	287 représentants	412 millions de dollars
Ventes de petites entreprises	156 représentants	124 millions de dollars

Intégrations de partenaires

TransUnion collabore avec plusieurs partenaires de l'industrie:

• Partenaires des services financiers: 47 banques grandes
• Partners du secteur de l'assurance: 32 fournisseurs d'assurance nationales
• Partners d'intégration technologique: 89 Logiciels de logiciels

Prestation de services basée sur l'API

Métriques du service API:

Catégorie API	Appels d'API mensuels	Temps de réponse moyen
API de vérification du crédit	14,6 millions d'appels	42 millisecondes
API d'évaluation des risques	8,3 millions d'appels	38 millisecondes

TransUnion (TRU) - Modèle d'entreprise: segments de clientèle

Institutions financières

TransUnion dessert plus de 10 000 institutions financières dans le monde. En 2023, la Société a généré 2,76 milliards de dollars de revenus, le segment des services financiers représentant environ 45% des revenus totaux.

Type de client	Nombre de clients	Dépenses annuelles
Banques	3,500	450 millions de dollars
Coopératives de crédit	2,200	180 millions de dollars
Sociétés d'investissement	1,300	220 millions de dollars

Sociétés de cartes de crédit

TransUnion fournit des services de gestion des risques de crédit à 95% des principaux émetteurs de cartes de crédit aux États-Unis.

• Les 10 meilleures sociétés de cartes de crédit représentent 65% des revenus du segment des cartes de crédit de TransUnion
• Valeur du contrat annuel avec les grandes sociétés de cartes de crédit: 120 à 180 millions de dollars

Assureurs

TransUnion dessert plus de 1 500 compagnies d'assurance sur plusieurs segments.

Type d'assurance	Pénétration du marché	Revenus annuels
Assurance automobile	80%	350 millions de dollars
Assurance maladie	55%	220 millions de dollars
Assurance immobilière	70%	280 millions de dollars

Petites et moyennes entreprises

TransUnion prend en charge plus de 500 000 petites et moyennes entreprises avec des solutions de risque de crédit.

• Valeur du contrat annuel moyen: 15 000 $
• Revenu total du segment des PME en 2023: 250 millions de dollars

Consommateurs individuels

TransUnion fournit des services de surveillance du crédit à 73 millions de consommateurs individuels aux États-Unis.

Type de service	Nombre d'utilisateurs	Revenu annuel moyen par utilisateur
Surveillance du crédit	73 millions	$24.99
Protection de l'identité	45 millions	$19.99

TransUnion (TRU) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

TransUnion a déclaré des dépenses de R&D de 429,2 millions de dollars en 2022, ce qui représente 16,8% des revenus totaux. Pour l'exercice 2023, les investissements en R&D sont passés à 461,3 millions de dollars.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2022	429,2 millions de dollars	16.8%
2023	461,3 millions de dollars	17.2%

Maintenance des infrastructures technologiques

Les coûts d'infrastructure technologique pour la transunion en 2023 étaient d'environ 312,5 millions de dollars, ce qui comprend:

• Dépenses de cloud computing: 87,6 millions de dollars
• Maintenance du centre de données: 65,4 millions de dollars
• Infrastructure réseau: 59,3 millions de dollars
• Licence de logiciel: 100,2 millions de dollars

Acquisition et traitement des données

TransUnion a dépensé 276,8 millions de dollars pour l'acquisition et le traitement des données en 2023, avec la ventilation suivante:

Source de données	Coût d'acquisition
Données de crédit à la consommation	124,5 millions de dollars
Informations sur le crédit d'entreprise	82,3 millions de dollars
Sources de données alternatives	70,0 millions de dollars

Compliance et dépenses réglementaires

Les coûts de conformité pour la transunion en 2023 ont totalisé 198,6 millions de dollars, notamment:

• Conformité juridique: 76,4 millions de dollars
• Représentation réglementaire: 52,3 millions de dollars
• Protection des données: 69,9 millions de dollars

Dépenses de vente et de marketing

Les frais de vente et de marketing de TransUnion pour 2023 étaient de 512,7 millions de dollars, distribués comme suit:

Canal de marketing	Frais
Marketing numérique	187,6 millions de dollars
Équipe de vente directe	215,4 millions de dollars
Marketing d'événement et de conférence	109,7 millions de dollars

TransUnion (TRU) - Modèle d'entreprise: Strots de revenus

Frais de rapport de crédit

La transunion a généré 2,67 milliards de dollars de revenus totaux pour l'exercice 2023. Les frais de rapport de crédit constituent une partie importante de cette source de revenus.

Catégorie de revenus	2023 Montant	Pourcentage du total des revenus
Segment interactif des consommateurs	817 millions de dollars	30.6%
Segment des services aux entreprises	1,14 milliard de dollars	42.7%
Segment international	713 millions de dollars	26.7%

Solution de gestion des risques abonnements

TransUnion propose des solutions de gestion des risques au niveau de l'entreprise avec des modèles d'abonnement récurrents.

• Coût de l'abonnement annuel moyen: 50 000 $ - 500 000 $
• Croissance des revenus basée sur l'abonnement: 8,2% en 2023
• Clients de solution de gestion des risques totaux: plus de 10 000 clients d'entreprise

Frais de service de vérification d'identité

Les services de vérification de l'identité ont généré environ 325 millions de dollars en 2023.

Type de service	Revenus de 2023	Taux de croissance
Vérification de l'identité numérique	185 millions de dollars	12.3%
Services de prévention de la fraude	140 millions de dollars	9.7%

Ventes de produits d'analyse de données

Les ventes de produits d'analyse de données de TransUnion ont atteint 456 millions de dollars en 2023.

• Revenus de produits d'analyse prédictive: 215 millions de dollars
• Outils de segmentation du marché Revenus: 241 millions de dollars
• Prix ​​moyen du produit: 5 000 $ - 75 000 $ par licence

Services de conseil au niveau de l'entreprise

Les services de conseil ont généré 287 millions de dollars de revenus pour 2023.

Catégorie de service de conseil	Revenus de 2023	Coût d'engagement typique
Conseil des données stratégiques	142 millions de dollars	$50,000 - $250,000
Services de conseil à risque	145 millions de dollars	$75,000 - $500,000

TransUnion (TRU) - Canvas Business Model: Value Propositions

You're looking at how TransUnion (TRU) delivers value across its core segments as of late 2025. The company is clearly seeing momentum, evidenced by raising its full-year 2025 revenue guidance to 8 to 8.5 percent growth, following a Q3 2025 total revenue of $1,170 million. This performance underpins the value propositions they offer to their customers.

Providing trusted, actionable risk insights for credit decisioning.

The core value here is helping lenders navigate a complex credit environment. For instance, while total consumer credit balances hit $18.0 trillion in Q1 2025, TransUnion's insights help manage the associated risk. They are seeing a clear stratification in the market; the percentage of consumers in the lowest risk super prime tier reached 40.9% in Q3 2025, representing about 16 million more individuals than in 2019. This level of detail is what powers their decisioning tools.

Here's a snapshot of the credit landscape they are providing insights on:

Credit Metric (as of late 2025 data)	Value/Forecast	Context/Comparison
Q1 2025 Total Consumer Credit Balances	$18.0 trillion	A 28% nominal increase since Q1 2020
Forecasted Credit Card Delinquency (90+ DPD) End of 2025	2.76%	A projected 12 basis point YoY rise
Unsecured Personal Loan Originations (Q1 2025)	5.4 million accounts	An 18% year-over-year increase
Credit Card Originations (Q1 2025)	18.5 million	A 4.5% year-over-year increase

Mitigating fraud and verifying identity with TruValidate solutions.

The fight against fraud is intensifying, making TruValidate a critical offering. The company reports significant technological improvements; the TruValidate fraud products, now on the OneTru platform, have delivered a 50% improvement in fraud catch while simultaneously reducing false positives. This efficiency is vital when you consider the scale of the problem.

The risk exposure remains high:

• The rate of suspected digital fraud among US Public Sector customers was 6.7% in 2024.
• Total synthetic identity loss exposure for US lenders reached $3.3 billion in H1 2025.
• 52% of Americans reported being targeted by a fraud scheme between August and December 2024.
• 6% of calls into US call centers in 2024 were flagged as high risk for fraud.

Offering precise marketing and audience segmentation via TruAudience.

TransUnion supports customer acquisition and retention efforts by enhancing audience data. The TruAudience marketing analytics suite has been replatformed onto the unified OneTru foundation, allowing for more streamlined and effective data application. While specific revenue for this segment isn't always broken out, the overall U.S. Markets revenue grew 10 percent in Q2 2025, with Financial Services leading that charge at 17 percent growth.

Empowering consumers with credit monitoring and identity protection tools.

Consumer-facing services are a growing area, with Consumer Interactive revenue showing a 2 percent organic increase in Q2 2025. A key action here is the launch of a freemium credit management platform with Credit Sesame, designed to boost consumer engagement. This helps consumers stay informed about their credit health, which is important given the total consumer balances are so high.

Delivering a single source of truth for debt recovery and collections.

While direct collections revenue figures aren't detailed, the value proposition is tied directly to the health of the credit ecosystem. For example, TransUnion's data informs the collections process by providing the most current picture of consumer debt status. The company's strong overall financial health, with an Adjusted EBITDA margin of 36.3 percent in Q3 2025 and a leverage ratio de-levered to 2.8x by Q2 2025, shows they are effectively managing their own data assets and operations. Finance: draft 13-week cash view by Friday.

TransUnion (TRU) - Canvas Business Model: Customer Relationships

You're looking at how TransUnion (TRU) manages its relationships across its diverse customer base, from the biggest banks to individual consumers. It's a mix of dedicated human touch and massive digital scale, which makes sense for a company handling petabytes of sensitive data.

Dedicated sales and account management for large enterprise clients

TransUnion (TRU) structures its B2B engagement based on customer size and vertical. The largest customers, which are key to the overall projected fiscal year 2025 revenue of between $4.432 billion and $4.472 billion, receive the highest level of service. The Financial Services sector, for instance, accounted for about 34% of U.S. consolidated gross revenues in 2024, indicating the importance of these large relationships.

The relationship structure is tiered:

• Dedicated sales teams for largest customers, focused by industry group and geography.
• Shared sales teams for mid-size customers.
• Call centers servicing smaller customers primarily.

The company supports over 65,000 businesses globally. This high-touch approach ensures strategic account management and direct support for the relationships driving the $1,170 million reported revenue in Q3 2025.

Automated, self-service digital platforms for real-time data access

The core of TransUnion's operational efficiency and client interaction is its unified cloud system, OneTru. This platform underpins client-facing services like the TruIQ suite. The sheer volume of data processing highlights the reliance on automation for real-time delivery.

Here's a look at the platform scale and impact:

Metric	Value (as of late 2025 data)	Context/Source
Daily Real-Time Interactions Managed	Over 50 billion	Indicates massive automated throughput
Internal Data Scientists Supported	Over 750	Shows the complexity managed by the platform
Fraud Catch Improvement (TruValidate)	50% improvement	Result of platform migration
U.S. Financial Services Revenue Growth (Q3 2025 YoY)	19%	Reflects strong commercial momentum

This platform architecture helps deliver insights through APIs, events, or batch processes, making data access highly automated for the client base.

High-touch consulting for custom risk model development

For complex risk challenges, TransUnion (TRU) deploys its Advanced Analytics Consulting team, which works closely with clients to develop bespoke models. This is a highly consultative, high-touch service, often involving a Model Risk Management (MRM) compliant process.

The engagement is tailored, starting with an assessment of the lender's business objectives and target segments. The tangible results from this consulting work are significant; for example, one mid-size lender saw a 7% increase in its approval rate after implementing a new custom model developed by the team. This service is a key component of the Analytics and Consulting solutions line.

Freemium and subscription models for direct-to-consumer engagement

TransUnion (TRU) directly engages consumers through various channels, including its own websites and strategic partnerships, often using subscription-based products. A key initiative involves a freemium credit management platform launched in collaboration with Credit Sesame, designed to lower customer acquisition costs and build direct relationships.

Data points showing direct consumer engagement trends include:

• Rent payment reporting participation rose to 13% of consumers in 2025, up from 11% in 2024.
• 57% of renters are more likely to rent from a property manager who reports payments.
• Gen Z participation in self-reporting rent payments declined to 18% in 2025 from 26% in 2024.

The Consumer Interactive segment accounted for roughly 14% of U.S. revenue in 2024, showing the financial weight of these direct-to-consumer relationships. Finance: draft 13-week cash view by Friday.

TransUnion (TRU) - Canvas Business Model: Channels

You're looking at how TransUnion (TRU) gets its solutions-from credit risk scores to fraud mitigation-into the hands of its diverse customer base as of late 2025. The channel strategy is clearly multi-pronged, designed to serve large financial institutions while aggressively pursuing growth in emerging verticals and direct consumer engagement.

Direct sales force to financial services and emerging verticals remains a core engine. This channel targets the largest revenue pools. For instance, in the third quarter of 2025, the Financial Services revenue growth accelerated to a strong 19 percent, showing the direct sales team is effectively closing deals in that segment. Furthermore, the Emerging Verticals channel showed growth of 7.5 percent in the same period. For the sales personnel driving this, U.S. base salary ranges for roles like Client Executive are between $78,100.00 and $123,000.00 annually, with commission targets generally set between 20% and 50% of that base salary.

APIs and digital platforms for real-time data delivery are critical for modern, high-volume clients, especially in fraud and identity resolution. The effectiveness of these digital channels is highlighted by the ongoing battle against digital fraud. In the first half of 2025, 8.3 percent of all digital account creation attempts were suspected of fraud. TransUnion's solutions, delivered via these platforms, are essential here, as the volume of digital account takeover increased by 21 percent from the first half of 2024 to the first half of 2025.

The Direct-to-Consumer website and mobile applications channel focuses on consumer-paid services, though it has faced headwinds. For example, Consumer Interactive revenue declined by 11 percent in the fourth quarter of 2024. However, TransUnion is actively trying to re-energize this through strategic collaboration, such as the planned launch of a freemium credit management platform with Credit Sesame.

Strategic Alliance Distribution Partner Program for decisioning platforms is a key route for expanding reach without scaling the internal direct sales force for every niche. This program includes tiers like Strategic Alliance (Tier 1), Elite (Tier 2), and Certified (Tier 3) partners. These partners, such as GDS Link, integrate TransUnion data into their own decisioning platforms, allowing business users to build and deploy risk strategies in real-time.

For Third-party resellers and brokers in international markets, the channel is showing robust expansion. The International segment revenue grew 12 percent on a constant currency basis in Q4 2024. By Q3 2025, the International segment still posted 6 percent organic constant currency growth, with specific markets like the UK, Canada, and Africa showing double-digit growth. India, a key international market, saw commercial growth of 8 percent in Q2 2025.

Here's a snapshot of how the primary commercial segments, which are heavily influenced by these channels, performed through the first three quarters of 2025:

Metric / Channel Proxy	Q3 2025 Value (Millions USD)	YoY Growth Rate (Q3 2025 vs Q3 2024)	Nine Months 2025 Value (Millions USD)
Total Revenue	$1,170	8 percent	(Not available for 9 months, but Q2 2025 revenue was $1,140 million)
Financial Services Revenue Growth (Channel Proxy)	N/A	19 percent (Q3 2025 acceleration)	N/A
Emerging Verticals Revenue Growth (Channel Proxy)	N/A	7.5 percent (Q3 2025)	N/A
International Revenue Growth (Organic Constant Currency)	N/A	6 percent (Q3 2025)	N/A
Cash Provided by Operating Activities	N/A	N/A	$668 million (Nine Months Ended Sept 30, 2025)

The company's overall 2025 financial guidance reflects confidence in these channels, projecting reported revenue growth between $4.432 billion and $4.472 billion, representing 6% to 7% growth for the full year.

You should check the Q4 2025 earnings release for the final revenue contribution breakdown by these specific distribution methods, as the current data relies on segment performance as a proxy for channel success. Finance: draft 13-week cash view by Friday.

TransUnion (TRU) - Canvas Business Model: Customer Segments

You're looking at the core customer base for TransUnion (TRU) as of late 2025, based on their latest reported performance through the third quarter of 2025.

Financial Services (Banks, Credit Unions, Online Lenders)-the largest segment.

This group is the engine of the U.S. Markets segment. In the third quarter of 2025, the Financial Services vertical within U.S. Markets showed accelerated growth of 19 percent organically. This vertical includes Consumer Lending, Mortgage, Auto, and Card and Banking lines of business. For context from the prior year, the Financial Services sector accounted for about 34 percent of TransUnion's consolidated gross revenues in the United States in 2024. Lenders rely on TransUnion solutions across the entire lending lifecycle, from customer acquisition to debt collection.

Emerging Verticals: Insurance, Government, Landlords, and Automotive.

The Emerging Verticals group is gaining traction, showing growth of 7.5 percent in Q3 2025, which management noted was their strongest performance since 2022. The Auto line of business, part of Financial Services but also a key vertical focus, saw strong growth in Q2 2025, with Auto up 19 percent year-over-year. TransUnion serves these verticals for identity verification, fraud mitigation, and risk assessment.

Media and Marketing firms for audience data and attribution.

This area is covered by the Consumer Interactive business, which grew 2 percent organically in Q2 2025. For marketing purposes, TransUnion's analysis from September 2025 segments U.S. consumers into four groups, where 35 percent of Americans are classified as Stable Spenders who are keeping up with inflation, while 43 percent are struggling as Budgeting Realists. TransUnion supports these firms with audience data and insights through tools like TruAudience.

Individual Consumers seeking credit reports and identity protection.

Consumers use TransUnion services to manage personal finances and guard against identity theft. In 2024, revenues from identity protection and breach solutions scaled to $165 million, up from $95 million in 2022. As of September 30, 2025, there were 194.2 million shares of TransUnion common stock outstanding.

Global customers across 30+ countries, including India and Latin America.

TransUnion supports over 65,000 businesses globally. The International segment generated $260 million in revenue in Q3 2025, an 8 percent year-over-year increase. Management highlighted double-digit organic constant currency growth in the UK, Canada, and Africa for Q3 2025. For the full year 2024, key international revenue contributors were India at 6.4 percent, the UK at 5.4 percent, and Canada at 3.7 percent of total revenue.

Here's a quick look at the reported revenue performance for the U.S. Markets and International segments in Q3 2025:

Segment	Q3 2025 Revenue (Millions USD)	Year-over-Year Revenue Growth	Key Vertical Growth (Q3 2025)
U.S. Markets	$913	8 percent	Financial Services: 19 percent organic
International	$260	8 percent (Reported)	India: 5 percent on new wins

The company's strategy involves deep penetration in core verticals, scaling existing solutions, and broadening the product portfolio, with specific attention to high-growth areas like Trusted Call Solutions (TCS), which was expected to reach $150 million in 2025.

• The U.S. represented approximately 76 percent of TransUnion's total annual revenue in 2024.
• In Q3 2025, the percentage of individuals in the lowest risk super prime credit tier rose to 40.9 percent, up from 37.1 percent in Q3 2019.
• The subprime delinquency rate in Q3 2025 was 11.4 percent.
• TransUnion increased its share repurchase program authorization to $1 billion.

Finance: draft 13-week cash view by Friday.

TransUnion (TRU) - Canvas Business Model: Cost Structure

You're looking at the engine room costs for TransUnion, the core expenses that keep the data flowing and the compliance checks running. Honestly, for a data and analytics firm, the biggest levers are always technology and the people who interpret that data.

Technology and Infrastructure Investment, Including Cloud Migration

Technology is a massive, ongoing cost, but you see the payoff in performance. The accelerated technology investment to migrate to the cloud, known as Project Rise, was planned for completion by the end of 2024. Still, the spending continues into 2025. For the nine months ended September 30, 2025, capital expenditures totaled $229 million, up from $199 million in the same period in 2024. This spend reflects the ongoing shift to a modern, API-based architecture. Looking specifically at operating expenses, Technology and communication expenses for the three months ended September 30, 2025, hit $204.4 million.

Here's a look at the investment cadence:

Metric	Period Ended September 30, 2025	Period Ended September 30, 2024
Capital Expenditures (9 months)	$229 million	$199 million
Technology & Communication Expense (3 months)	$204.4 million	$173.0 million
CapEx as % of Revenue (9 months)	7%	6%

Data Acquisition and Processing Costs from Various Sources

The lifeblood of TransUnion is its data, and acquiring and maintaining that data is a core component of the Cost of Services. These costs include data acquisition and royalty fees, personnel costs for databases, and data center costs. For the three months ended March 31, 2025, the Cost of Services (exclusive of depreciation and amortization) was $445.6 million, an increase of $39.4 million year-over-year for the three months ended September 30, 2025.

The components driving the Cost of Services increase include:

• An increase of approximately $22.0 million in product and fulfillment costs, mainly due to higher product pricing and increased volume.
• A net increase of approximately $9.0 million in labor-related costs within the segment.

Personnel Expenses for 13,400 Employees, Especially Data Scientists

Personnel is a significant fixed cost. TransUnion maintained a workforce of 13,400 employees as of December 31, 2024, which is the latest figure aligning with late 2025 operational scale. Labor-related expenses, which include fully burdened compensation and subcontractor costs, are a major part of the operating structure. The company is actively managing this through its Global Capability Centers (GCCs) in locations like India, South Africa, and Costa Rica, which support about one-third of the employee base.

Regulatory Compliance and Legal Costs Globally

Regulatory overhead is non-negotiable in this industry. You saw a major swing in Q1 2025 due to legal matters. For the three months ended March 31, 2025, Selling, General and Administrative (SG&A) expenses decreased by $48.8 million year-over-year, largely because of a $56.0 million reduction in legal and regulatory expenses following the dismissal of an accrued lawsuit liability. However, you can't forget past costs; a subsidiary, Argus, paid $37 million in March 2024 to resolve allegations related to improperly monetizing government-contracted data. Litigation and professional services generally fall under the Other segment items in the operating expense breakdown.

Sales, General, and Administrative (SG&A) Expenses; Aiming for $35 million in 2026 Operating Savings

SG&A covers sales, management personnel, advertising, and professional services. For the first quarter of 2025 (three months ended March 31, 2025), SG&A expenses were $256.8 million. The company is focused on driving down structural costs through its transformation program, which is expected to conclude its one-time investment phase in 2025, with an expected $100 million to $120 million in one-time charges for 2025. The explicit goal you're tracking is aiming for $35 million in annualized operating expense savings by 2026 relative to 2023 levels, which is part of a larger, previously announced goal of $120 million to $140 million in savings by 2026.

The key cost management actions include:

• Targeting $35 million in annualized operating expense savings by 2026.
• Realizing approximately half of the total expected operating expense savings in 2024.
• Incurring $100 million to $120 million in one-time transformation charges during 2025.

Finance: draft 13-week cash view by Friday.

TransUnion (TRU) - Canvas Business Model: Revenue Streams

You're looking at how TransUnion (TRU) actually makes its money, which is really about monetizing its massive data assets across different customer needs. The revenue streams are quite diverse, but a few key areas drive the bulk of the top line.

The largest single contributor comes from business-to-business activities, specifically fees from business credit reports and scores. As of the third quarter of 2025, the U.S. Markets segment, which houses these core credit reporting services for businesses, generated gross revenue of $912.8 million out of total reported revenue of $1,170 million for that quarter, putting the segment contribution near 78% of the total revenue base for that period. This shows how critical the core U.S. credit bureau function remains.

Another significant area is the growth in advanced solutions. This includes sales of advanced analytics, fraud, and marketing solutions. For instance, the Trusted Call Solutions (TCS) suite, which helps transform the phone engagement experience, is projected to scale significantly, moving from approximately $50 million in revenue in Fiscal Year 2022 to a projected $320 million by Fiscal Year 2025, targeting what TransUnion sees as a $1 billion+ addressable market. That's serious growth in the non-core credit reporting side.

Subscription revenue from the Consumer Interactive segment, covering things like credit monitoring and identity protection, is also a steady stream, though it can be lumpy due to large breach remediation contracts. For context on the scale of identity protection, revenues from identity protection and breach solutions reached $165 million in 2024, up from $95 million in 2022. Licensing fees for proprietary software and decisioning platforms are embedded within the segment revenues, supporting the core data services and advanced solutions.

Here's a quick look at the scale of the business based on recent guidance and segment performance:

Metric	Value/Range	Reference Period/Context
Full-Year 2025 Adjusted EBITDA Projection	$1.622 billion and $1.637 billion	Full-Year 2025 Guidance
U.S. Markets Gross Revenue (Q3 2025)	$912.8 million	Third Quarter 2025
Total Revenue (Q3 2025)	$1,170 million	Third Quarter 2025
Trusted Call Solutions (TCS) Projected Revenue	$320 million	Projected for Fiscal Year 2025
Identity Protection & Breach Solutions Revenue	$165 million	Full Year 2024

You should also note the performance of the core U.S. Financial Services within U.S. Markets, which saw a 17% increase in revenue in the second quarter of 2025. That growth is fueled by lending activity across credit card, consumer lending, and auto sectors.

The revenue streams break down into key areas of service delivery:

• Fees from business credit reports and scores.
• Subscription revenue for consumer monitoring.
• Sales of fraud and marketing solutions like TruValidate.
• Licensing for decisioning platforms.
• Growth from International segments (e.g., India grew 18% in Q4 2024).

If onboarding for new enterprise clients takes longer than expected, the realization of new licensing and solution revenue could definitely slip into the next fiscal year.

Finance: draft 13-week cash view by Friday.