TransUnion Israel will provide credit data service and will process and analyze consumer behavior data.
TransUnion entered Israel when the Credit Data Service Law came into effect on August 1. TransUnion, a global leader in credit data services, has signed a cooperation agreement with Business Data Israel (BDI) to found a joint company, TransUnion Israel.
TransUnion Israel will provide credit data service for individuals and will set up a venture for processing and analyzing consumer behavior information. The Credit Data Service Law permits the collation of information about individual's credit, which had previously been forbidden in Israel. The law aims at increasing competition in Israel's credit market and reducing commercial uncertainty by providing information about an individual's credit history and standing.
BDI chairman Amnon Altman says the company is completing its preparations for the coming into effect of the Credit Data Service Law and is setting up an innovative computer system that includes the tightest information security technologies. BDI executives recently attended a TransUnion seminar at its Chicago offices.
BDI has hired a special team that has begun compiling the new databases. Altman predicts that the new services will be launched in October.
Published by Globes [online] - www.globes.co.il - on August 9, 2004