TransUnion has completed the sale of Noddle, a credit reporting and monitoring service provider, to Credit Karma, after receiving approval from the Financial Conduct Authority (FCA).
Image: TransUnion closes sale of Noddle to Credit Karma. Photo: Courtesy of Lorenzo Cafaro/Pixabay.
Noddle was acquired by TransUnion, last year as part of its acquisition of Callcredit.
Credit Karma offers personal information monitoring and financial health improvement products across the US and Canada to more than 85 million of its members.
Credit Karma co-founder and chief revenue officer Nichole Mustard said: “Now that the deal has closed, we can get to the real work of championing financial progress for our members in the UK.
“To do this, we’re investing heavily in our in-market offering and scaling up significantly. We’re looking to triple the team in the U.K. and open new offices in Leeds and London.”
Following the acquisition, the company will continue to supply customers of Credit Karma with complete access to all of their credit reports and scores. The two companies are already partners in the US and Canada.
TransUnion Consumer Interactive president John Danaher said: “We are pleased to have completed the sale of Noddle to Credit Karma, further to regulatory approval, and we are confident that the business will continue to prosper under new ownership.
“UK consumers will continue to benefit from the free information monitoring and financial health solutions offered through Noddle, and TransUnion will continue to provide Noddle with credit reporting information.”
Last October, TransUnion has launched IDVision with iovation, a suite of identity management, authentication and fraud prevention solution to protect businesses from fraud.
The new solutions bring TransUnion’s extensive personal data with iovation’s digital data. This results in global network effect of fraud and risk insights that allow businesses to quickly and accurately differentiate between good customers from fraudulent ones.
Furthermore, iovation’s FraudForce Device-based Reputation product has been integrated into the upgraded suite of solutions.
TransUnion is a provider of risk and information solutions to businesses and consumers. It provides consumer reports, risk scores, analytical services and decisioning capabilities to businesses.