TransUnion, a leading credit and information management firm, has announced it will build customer credit information bureaus to serve individual and banking customers in Vietnam.
Michael Kiyosaki, executive deputy director of TransUnion, said the bureau, being developed with support by its local partner Mozaik Corporation, would be the first in the country after a government decree issued in February for the first time allowed private investment in credit customer credit information services.
Kiyosaki said the banking industry was developing rapidly with more people using credit and approaching lenders for loans, opening opportunities for firms to provide risk management solutions to the industry.
When it opens in 2012, the bureau will provide lenders with information about their customers that will increase security in lending, he said adding they expected it to open early 2012. .
He said the bureau expected to operations early in 2012, providing credit reports which help lenders approve loans and credits faster. The deputy president refused to disclose its investment in the bureau but said it would be close to the one that it has built in India.
With more than 40 years of operating experience in over 25 markets across the globe, Chicago-based TransUnion has bureaus in several Asian markets like Hong Kong, India, Thailand, Singapore and China.