PeerIQ, a data and analytics provider in the marketplace lending sector, and TransUnion (NYSE: TRU), a global information solutions provider, today announced a strategic partnership to bring enhanced transparency and insight to alternative lending markets.
“Our partnership with TransUnion is a significant milestone for us, and together we intend to tackle the industry’s major challenges,” commented PeerIQ CEO Ram Ahluwalia. “Our clients are demanding through-cycle data histories, robust models and indices, cross-asset class comparisons and consensus valuation. We’re eager to meet those needs by uniting with the best data partner in the space.”
This newly launched partnership will target key issues facing lending markets to foster greater investor confidence. PeerIQ believes that the partnership will aid in its becoming a key facilitator of efficient investment between marketplace lenders and institutional investors.
“PeerIQ’s partnership with TransUnion is an exciting opportunity for the industry,” indicated former Securities and Exchange Commission Chairman Arthur Levitt, a backer of PeerIQ. “Enhanced by TransUnion’s data, PeerIQ’s platform will drive best-in-class capital allocation and risk management decisions, which are critical to banks, regulators, and investors alike.”
PeerIQ is also backed by Uprising, Victory Park Capital, and Fenway Summer Ventures, as well as notable capital markets veterans such as John Mack, Vikram Pandit and Dan Doctoroff.
In addition to building authoritative data and derived analytics solutions for the industry, PeerIQ and TransUnion will collaborate on distribution and integration opportunities. TransUnion has a global presence in more than 30 countries in several international markets across North America, Africa, Latin America and Asia. As part of the partnership, Steve Chaouki, EVP and head of TransUnion’s financial services business unit, will become a PeerIQ board observer.
“PeerIQ is an established thought leader on the efficient funding of consumer credit via the capital markets,” observed Chaouki. “We have great confidence in the PeerIQ analytics platform, a rich feature set for all institutional participants from loan buyers, to banks, to ABS investors. We see tremendous potential to both enhance PeerIQ’s offerings with our data and unlock more client value as a natural extension of our solutions for originating lenders.”