TransUnion Canada has launched the TruVision Trended Risk Score, a revolutionary credit assessment tool designed to expand credit access for newcomers and young Canadians. This innovative solution, built on post-pandemic consumer data, analyzes over 100 proprietary variables to provide lenders with comprehensive insights into borrowers’ payment behaviour. The timing is crucial, as international migration drove 92% of Canada’s population growth in Q3 2024, with new-to-credit consumers representing 28% of new credit card openings. This new scoring system aims to facilitate faster credit building while helping newcomers make more informed decisions.
TransUnion Canada introduces new credit score system to benefit newcomers
