The marketplace of the world is undoubtedly an internet marketplace. Never before have so many people had so much access to so many products and services at one time, and people are actively and constantly exchanging money on the internet to get what they want. This means money security is more important and faces more threats than than ever before. One of the forces fighting against the injustice of fraud is actually credit reporting companies.
Experian and Equifax competitor TransUnion has been on the move to modernize its approach to tracking credit. It just earlier this year went public to give greater access to the people, but a more recent change made official on the the ninth should help even more. TransUnion is finalizing a purchase of a company called Trustev, an Irish fraud protection company, for a total of nearly 45 million dollars.
Trustev is a recent startup that has seen great success fighting identity theft and illegitimate purchases for the last two years. Provided Trustev keeps up with certain expectations, the purchase will complete and TransUnion will have and edge against its competition. With all of the purchasing data in the hands of TransUnion available to the Trustev resources and know-how, the company will be able to offer uniquely powerful protection against the modern plague of fraudulent purchases that vex not only companies, but also customers.
Other credit reporting companies may take a hint from this action and work harder to battle such modern problems. The way things stand now, though, TransUnion seems to be the most progressive credit reporter out there.