A Modern Identity Crisis: How The Digital Age Blurs The Lines Between Trust, Risk and Authenticity

In this episode, Mark Read (https://www.linkedin.com/in/mark-read-/), Head of Data Breach Solutions at TransUnion UK, talks to George Chaisty (https://kennedyslaw.com/en/our-people/people/manchester/george-chaisty/), a Partner at the international law firm Kennedys Law LLP, and Cameron Carr (https://www.mullen.law/people/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 (https://www.rusi.org/explore-our-research/publications/occasional-papers/ransomware-victim-insights-harms-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 (https://www.transunion.co.uk/lp/breach-ebook) or get in touch with Mark directly.

Curious about the potential of credit education and monitoring tools to deliver richer, mutually beneficial relationships for consumers and financial service providers? This timely episode (recorded at the FUTURE Summit 2023) can help you get a better understanding of how the credit monitoring tools and features, a familiar characteristic of modern digital financial platforms, can engage and educate customers to make better credit decisions and build loyalty and trust. In this podcast you'll hear from James Robinson, Managing Director of Consumer Interactive at TransUnion UK and Alex Cook, Product Manager at NewDay. James and Alex share their stories and insights on why they embrace credit education and the important role it plays in supporting consumer financial well-being. Topics covered include: * The need to help consumers better understand their credit status and tools that can help improve improve their financial confidence * NewDay's evolving journey with credit education * The future of credit monitoring tools and next-generation lending experiences Interested in cutting-edge FS solutions that can help improve customer outcomes and business performance? TransUnion have published a guide to our award-winning CreditView solution that's helping brands build next-gen financial services platforms. To get your copy** [head over to our landing page]**(https://www.transunion.co.uk/lp/creditview-ebook)

Data advancements have the potential to improve how well you know your customer and drive outstanding customer experiences and personalised services. With regulatory evolution, including the new Consumer Duty, and intense market competition, the right approach could unlock growth and be a unique selling point. In this session, recorded at the TransUnion Summit 2023, Sam Welch (Commercial Banking Director, TransUnion) asks industry leaders from different sectors: How big is the gap between potential and reality, and what more can be done to get to know customers better? Sam poses a set of questions on key topics to our panel of financial services SMEs, and elicits authentic insights on key challenges around an effective data strategy, how to design an advance customer experience and changing consumer attitudes and economic behaviour. Panel chair: * Sam Welch, Commercial Banking Director, TransUnion Panel: * Ranil Boteju is Chief Data & Analytics Officer, Lloyds Banking Group * Desmond McNamara, CRO, Zilch * Darren Kelk, MD, Ascendant Solutions * Stuart Daniels, Chief Credit Officer, FGH Interested in cutting-edge FS solutions that can help improve customer outcomes and business performance? TransUnion have published a guide on new use cases for Open Banking and an overview on how TransUnion and Bud are building the next generation of Open Banking solutions. To get your copy, head over to our landing page. (https://www.transunion.co.uk/lp/open-banking)

With bad actors using sophisticated technology and PII they’ve amassed online, establishing trust and detecting risk is increasingly challenging. This episode, clipped from our panel discussion, 'A Modern Identity Crisis: How The Digital Age Blurs The Lines Between Trust, Risk and Authenticity' (at the TransUnion FUTURE Summit 2023) takes a deep dive into the latest fraud trends. The panel was chaired by Chad Reimers, GM: Fraud and Identity Solutions, TransUnion UK, and featured: * Harriet Sloan, Head of UK Fraud and Identity Consulting and Analytics, TransUnion * Glyn Cowlishaw, Head of UK Fraud and Identity Pre-Sales, TransUnion * Devon Smith, Director of Strategic Growth, NeuroID Topics include emerging fincrime and cybercrime threats, such as no intent to pay, money mules, organised 3rd party fraud and targeted online attacks, and how consumer attitudes towards online crime are evolving. The panellists share the patterns they're seeing emerge across sectors and outline forward-thinking strategies that can help improve performance and enable businesses and consumers transact with confidence. For more information on how TransUnion's TruValidate solution can help your business better detect and identify fraudulant activity visit our solution and product pages (https://www.transunion.co.uk/solution/truvalidate).

In this episode, Mark Read, head of data breach solutions at TransUnion UK, talks to George Chaisty, a partner at the legal firm Kennedys Law LLP. George is part of Kennedys’ cyber and data risk team, and advises clients on a broad range of cyber incidents including ransomware and business email compromises. Using our recently published e-book Data Breach for Businesses (https://www.transunion.co.uk/lp/breach-ebook) as a starting point, Mark quizzes George on the current cyber threats facing businesses and what processes and resources need to be considered when building a robust data breach plan. Additionally, George identifies some of the common mistakes businesses make in their response actions. Key talking points in this podcast revolve around reputation management, supporting consumers and the timeframe you have to act within. We’ve recorded this podcast to provide a blueprint for professionals who are responsible for their organisation's data breach plan. The episode offers an in-depth explanation of what resources, teams and services go into making a robust data breach response. For those working in the industry and familiar with the topic, it can either validate your approach or offer nuggets of new and useful information. And for those tasked with developing a plan from scratch, it can hopefully provide a template for you to follow as you begin to document your process.

As digital crime evolves and fraudsters exploit changes in consumer behaviour, our host, Harriet Sloan, head of fraud consultancy and analytics, is joined by Jamie Bartlett, journalist and author of The Missing Cryptoqueen and The Dark Net to discuss: Fraud trends and the international nature of digital crime The impact of crime on consumers and the role education can play in mitigating risks of financial crime How technology is both an enabler and preventor of modern crime Plus, Jamie updates us on his search for Dr Ruja Ignatova. Dr Ruja is the only woman currently on the FBI’s Ten Most Wanted Fugitives list and the main protagonist in The Missing Cryptoqueen the award-winning podcast series Jamie produces with Georgia Catt. This espisode of Data, Strategies and Trust features key findings from our State of Omnichannel Fraud Report (https://www.transunion.co.uk/lp/transunion-2023-state-of-omnichannel-fraud-report). Our annual report features insights surrounding digital fraud trends, as well as practical steps businesses can take to mitigate synthetic identities, improve fraud detection, and reduce false positives.

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 (https://www.transunion.co.uk/lp/creditview-ebook) e-Book * Emerging Financial Services Trends and The Future of Banking (https://www.transunion.co.uk/blog/emerging-financial-services-trends-and-the-future-of-banking)

As Gen Z and young Millennials move out of higher education and into the workplace, they're actively seeking to solve their banking and lending needs. This is likely to involve transacting with different financial service providers and using a diverse range of financial products and payment methods. We've produced this episode to help you understand what younger consumers think of credit, how they talk about money and their attitude towards financial management. It touches on the accessibility and availability of credit information, and the impact socioeconomic factors, such as the cost of living crisis, is having on budgeting and aspirations. Hosting the show is TransUnion's James Robinson (https://uk.linkedin.com/in/james-robinson-35ba3622). James started at TransUnion in 2007 and has worked across account management, pre-sales and was recently promoted to managing director of our consumer interactive team. With over 10 years’ experience in delivering consumer credit solutions, James is a subject matter expert (SME) in consumer credit and open banking data, and the lending customer experience. Joining James is Ellie Austin-Williams (https://uk.linkedin.com/in/ellie-austin-williams), founder of the This Girl Talks Money, a podcast that aims to empower and help Gen Z and Millennials cultivate a positive money mindset. Working with this demographic, Ellie brings a fresh, personable perspective to important issues such as financial education and money management. Topics include; dissecting the ideal customer journey for Gen Z talking to innovation, personalisation, security and instant decisions; digital trust in an age of disinformation and scams; and their understanding and adoption of open banking. Speakers: * James Robinson, managing director, consumer interactive, TransUnion in the UK * Ellie Austin-Williams, founder of This Girl Talks Money

The evolution of open banking continues apace. In this episode of Data, Strategies and Trust, we bring together some of the concepts and approaches which are driving the data solution forward and making it an increasingly recognisable piece of the banking customer journey. Hosting the show is TransUnion's Celso Nogueira. Celso joined TransUnion’s Brazil business in 2016 and has specialised in the development of open banking solutions. At the beginning of 2023 Celso moved to TransUnion’s UK business as our director of product management – open banking (https://www.transunion.co.uk/product/open-banking-platform). Bringing a global perspective to the table, Celso talks with Sam Buckley, senior credit consultant – open banking, about the adoption of open banking in the UK, emerging use cases that we are seeing in the market and the recent announcement of TransUnion going into partnership with Bud, which is designed to drive greater financial inclusion. In the UK, TransUnion was an early advocate of open banking, viewing the technology as a way to improve customer acquisition, customer experience and enable more informed and fairer lending decisions. Contributing to the discussion in this episode is Chris Sweeney, CEO of Fiinu (https://www.fiinu.com/), a consumer-focused fintech that secured its Financial Conduct Authority license in 2022. Chris' career to date has included being CEO at 118 118 Money and prior to that, CEO and Executive Director of Vanquis Bank. With over 20 years’ experience in consumer finance and retail banking, and a track record of driving businesses forward through strategic transformational change in the UK and overseas markets, he's helping to launch Fiinu this year. Chris talks to Sam about crafting Fiinu’s consumer-facing proposition, how they are innovating by putting open banking at the beginning of the customer journey and the exciting ways it and open finance can help consumers access appropriate financial products. Speakers: * Celso Nogueira, director of product management – open banking, TransUnion in the UK * Sam Buckley, senior credit consultant – open banking, TransUnion in the UK * Chris Sweeney, CEO of Fiinu Useful links: * Celso quotes statistics around the increased consumer usage of open banking from the OBIE (https://www.openbanking.org.uk/about-us/) * The consumer numbers that Chris (Fiinu) references are sourced from the FCA (33 million is from the FCA (19M arranged, 14M unarranged users)) and verified primary research conducted by Fiinu using bureau data (e.g. 16.5m is 14+2.5m as the unarranged market grew by 2.5M) * Sustainable Growth for Lenders: A guide for reaching and retaining the next generation (https://www.transunion.co.uk/lp/sustainable-growth-for-lenders)

In this episode of TransUnion's Data, Strategies and Trust podcast series, Mark Read, head of data breach solutions at TransUnion UK, sits down with Ellie Ludlam, partner within the cyber and data risk team at DAC Beachcroft LLP, and Bill Flynn, senior vice president and deputy general counsel at TransUnion International, about the current data breach landscape and how businesses can best respond to 'known unknowns'. In our e-book, Data Breach Support for Businesses, we reported that 83% of businesses say new working practices mean they fear a data breach now more than ever. With data breaches an ongoing and evolving threat this podcast explores some of the topics that are likely to matter to security professionals and their stakeholders in 2023. Our expert speakers talk through the UK regulator’s position on data breach compensation claims, insights from DAC Beachcroft’s data protection and cyber conference (held in November 2022) and discuss of the some of the main cyber issues facing UK businesses, including ransomware, robust third-party protection and cyber resilience. This podcast is ideal for cyber and risk experts or senior leaders working with digital teams wanting to learn more about some of the pressing issues and risks within the data breach and cyber crime world, and how they can evolve and sharpen their contingency plans. Speakers: * Mark Read, head of data breach solutions at TransUnion UK (https://uk.linkedin.com/in/mark-read-) * Ellie Ludlam, partner within the cyber and data risk team at DAC Beachcroft LLP (https://uk.linkedin.com/in/eleanor-ludlam-a7736927) * Bill Flynn, senior vice president and deputy general counsel at TransUnion International For more information on TransUnion's data breach support services and reasearch visit: * Data Breach Support Service (https://www.transunion.co.uk/solution/data-breach-support-service) * Data Breach Support for Businesses ebook (https://solutions.transunion.co.uk/trueidentity-ebook/)