TransUnion Enables Free Credit Education via the New Lowell App
TransUnion has strengthened its partnership with Lowell, one of the largest credit management companies in Europe, to provide their UK customers with a personalised toolset for monitoring and improving their financial standing via the Lowell app for free.
Lowell aims to help make credit work better for all and is partnering with leading global information and insights company, TransUnion, to help people understand the importance of credit information, which is particularly important as UK consumers deal with the increased cost of living.
Recent research for TransUnion’s Consumer Credit 2022 white paper showed that six in 10 people in the UK are feeling the pressure of the rising cost of living, which makes it harder for them to improve their financial position. The partnership between Lowell and TransUnion will support Lowell customers in overcoming difficulties and navigating the path to their financial recovery.
Kelli Fielding, managing director of consumer interactive at TransUnion in the UK, said: “We’re delighted to expand our longstanding relationship with Lowell to give financially vulnerable customers access to their credit information via the new Lowell app. Keeping a keen eye on your credit score is a quick and easy way to monitor your financial situation and improve your financial health. With TransUnion data now available in Lowell’s app, customers are just a click away from the insights that can help them build their credit score and better manage their finances.”
TransUnion’s data has confirmed the benefits of regularly checking credit scores, showing that more than half (53%) of self-monitoring consumers increased their credit score in six months and became eligible for new products. TransUnion’s recent Consumer Credit report highlighted that over a quarter (26%) of people in the UK take advantage of action steps available to improve their financial standing.
Powered by TransUnion’s CreditView platform, Lowell’s Credit Information Services are available via the new Lowell app on mobile and tablet devices for free, giving customers a clear understanding of what their credit score means, as well as how to take steps to improve it if necessary.
John Pears, CEO at Lowell said: “Perceptions of the importance of credit monitoring differ, both by generation and geographically across the UK, with many not knowing how or why to check their credit scores. By joining forces with TransUnion to provide our customers with access to their credit information, we are helping to address these gaps in awareness head-on. Our customers will be able to view their 72-month credit score history for free, as well as the aspects that impact their scores – both positively and negatively – in turn empowering them to make better financial decisions.”