TransUnion Business Insights

In this episode, Mark Read, Head of Data Breach Solutions at TransUnion UK, talks to George Chaisty, a Partner at the international law firm Kennedys Law LLP, and Cameron Carr, Managing Partner for Mullen Coughlin, to get a better understanding of the current cyber threat landscape.

Off the back of a busy 2023 and with Mark attending February’s IAPP Data Protection Intensive 2024 event in London, the first part of this podcast reflects on the dominant and emerging methods being used by threat actors. Cameron, Mark and George use this scene setting as an entry point into the recent Royal United Services Institute, (RUSI) paper which explores the harms caused by ransomware to individuals, organisations and society.

RUSI is the world’s oldest and the UK’s leading defence and security think tank, and this document is an important industry talking point. Our experts discuss the psychological impact ransomware can have on individuals directly (first-order harms) and indirectly (secondary-order harms) and address key issues that businesses need to consider when mitigating a cyber incident that includes breach fatigue, impact on front line staff and customer care.

We wrap up with insights into what industry professionals can expect to see from threat actors in the coming year and identify the resources that will need to be carefully marshalled in response to these threats.

For more information on how your organisation can look to counter the threat of a data breach, download our dedicated ebook or get in touch with Mark directly.

One of the most pressing economic challenges stemming from the cost of living crisis is the growing concern around consumers' financial vulnerability. It is a high priority and concern for senior leaders across financial services, insurance, gaming, e-commerce and government. The publication of the Credit Information Market Study Interim Report and Discussion Paper (Nov 2022) — covering non-financial vulnerability and the need to ensure good customer outcomes — and the FCA’s new Consumer Duty regulations, emphasises the need for organisations to invest in data solutions and data science talent, adhere to evolving compliance requirements, be committed to customer care and have a strategic mindset.

This podcast dives into the issue of financial vulnerability and discusses the changing regulatory landscape and the latest on the Consumer Duty. It features vox pops from the public talking about their financial concerns and how they are coping with the pressures on their household budgets, expert insights from decision makers in the credit space and an overview of the ways businesses can strengthen relationships with customers and improve their financial confidence.

Contributors you'll hear from:

• Sam Welch, Commercial Banking Director, TransUnion
• Jonathan Baum, Non-Exec Board Member and Strategic Advisor
• Caroline Evetts, Director of Risk & Compliance, TransUnion
• Oli Lewis-Jones, Retail Conduct Risk and Regulation Consultant, Deloitte
• James Robinson, Managing Director - Consumer Interactive, TransUnion

Further insights

• Create brighter futures with CreditView e-Book
• Emerging Financial Services Trends and The Future of Banking

In this episode we turn our attention to the UK gambling industry.

According to UK Gambling Commission research, 43% of UK adults aged 16 and over participated in gambling in year to March 2022 (within a four week period). This includes the National Lottery, sports betting and online slot machines. The UK gaming industry has invested heavily in the move from bricks and mortar to omnichannel, the digital customer experience and adapting to evolving regulation. In this podcast we focus on socially responsible gambling through the lens of updates to UK gambling regulation and the growing cost of living crises. We ask: How can the UK gambling industry better protect consumers in 2022 and in the future?

Joining host Ben Wade (TransUnion) are Luke Sugden (Flutter UK and Ireland), Tom Banks (Kindred Group), Dan Whitlam (GamCare) and Roberta Sossi (TransUnion). The discussion starts with the latest guidance published by the UK Gambling Commission, with our guests identifying key talking points and explaining how the industry is interpreting and responding to them. The conversation moves on to insights into consumer economic behaviour and attitudes, the protections players expect from operators and how this is shaping the digital customer experience. We wrap up by looking to the future and how advanced data insights and regulation could further help consumers and the industry.

Contributors:

• Ben Wade, Sector Lead - Gaming, TransUnion
• Luke Sugden, Director of Risk and Safer Gambling, Flutter UK and Ireland
• Tom Banks, Head of Corporate Affairs UK and Global, Kindred Group
• Dan Whitlam, Head of Industry Standards, GamCare
• Roberta Sossi, Senior Credit Consultant, TransUnion

Further information:

• Read up on TransUnion's ongoing Consumer Pulse research, consumer research Roberta refers to in this episode
• Find out how TransUnion works and partners with the gaming industry
• UK Gambling Commission June 2022 update: Customer interaction: formal guidance for remote gambling operators

How has COVID-19 influenced the way lenders, telco, insurance, automative businesses and retailers, engineer their digital onboarding flows? And are these changes permanent and what innovations are on the horizon?

In this podcast we dive into the role fraud and identity solutions have in creating secure and outstanding customer experiences. Since 2020, digital fraud and financial crime has exploded, negatively impacting on consumer and business confidence and trust.

Delivering a great onboarding experience during customer acquisition is a universal ambition for digital leaders. To demonstrate common dominators and differences across borders, and provide the best insights possible, we've brought in expert perspectives from different markets.

Presenter Josh Gunnell, Director - Fraud Solutions TransUnion in the UK, is joined by:

• Patrick Boudreau - Head, Identity Management & Fraud, TransUnion, Canada
• Megha Khetarpal- Director, Fraud Solutions Lead for Emerging Markets, TransUnion, India

Topics covered include unlocking friction-right design, customer experience across the customer journey and awareness of fraud threats in the digital world.

Research cited by Megha Khetarpal:

• Question 1: Using findings from TransUnion's ongoing Consumer Pulse research survey. Each quarter TransUnion tracks consumer attitudes and experiences towards credit, fraud and related themes.
• Questions 2 response: Insights referenced come from a Deloitte study into the gap between what consumers think of financial services institutions vs. their favourite technology brand. Research cited: Accelerating Digital Transformation in Banking, July 2018, Deliotte Insights.

Digitisation — the fundamental pillar of FinTech — has become more critical to businesses since the onset of COVID-19. This is evidenced by the rise in demand for online finance, and evolution of consumer-facing platforms and services — all set against a background where consumer fraud is now mainstream news.

Our experts will explore the changing fraud landscape and its knock-on effect on consumer trust and CX across generations, and how FinTechs are likely to adapt to shifting consumer preferences — and new and fierce competitors — to maintain their innovative edge.

Our expert guests are:

• Steve Wishart, Head of FinTech, TransUnion UK
• Josh Gunnel, Head of Fraud Pre-Sales, TransUnion UK

**This episode references one of the reports available to download now from our website:
**TransUnion sponsored The Economist Intelligence Unit to conduct a global survey of 1,610 executives — delving into their mindsets and perceptions around fraud, security and commerce trends in the digital domain.

New Dimensions of Change: Building Trust in a Digital Consumer Landscape report, created by The Economist Intelligence Unit and sponsored by TransUnion, is available to download now on our website: https://solutions.transunion.co.uk/digitalconsumertrust/