TransUnion, a Chicago-based credit reporting agency, has received a business license to establish operation in Vietnam.
The new entity will work closely with a local business partner, Mozaik Corp., and plans to bring its range of credit reporting and risk management solutions to the country. TransUnion said it will leverage its global experience in credit information management, while also counting on the domestic expertise of Mozaik and a local management team to deliver a "world-class credit bureau of international standards."
TransUnion International president of Andrew Knight said that with more than 40 years of operating experience in more than 25 markets across the globe, TransUnion experience in setting up credit bureaus is vast and our commitment to Asia is strong.
"We will leverage and build upon our current presence in Asia including China, Hong Kong, India, Singapore, and Thailand to establish a world-class credit information company in Vietnam. The transformations that have taken place in these markets' economies are remarkable, and we look forward to accomplishing the same results here in Vietnam," Knight says.