HONG KONG, March 16, 2016 /PRNewswire/ -- TransUnion (NYSE: TRU) today announced its partnership with Executive Development Centre of Hang Seng Management College to launch a credit risk management course. The first of its kind in Hong Kong, the course aims to enhance industry practitioners' skills in managing and mitigating credit risks, detecting fraud and making better credit decisions.
The course is the first of a comprehensive long-term training programme offered by TransUnion in partnership with local tertiary educational institutions. The programme has been developed under TransUnion's new Information for Good brand promise as the company transforms from a traditional credit bureau into a risk management solutions provider, and is a major part of the company's regional corporate social responsibility initiatives.
The training programme offers 16 credit risk and consumer lending management courses. Spanning basic concepts to advanced data analytics and enterprise risk management, this training programme is the most comprehensive in Hong Kong designed for banking professionals.
The first participants on the course are 30-plus mid- to senior-level employees from Chong Hing Bank who will attend a three-day course conducted by lecturers from Hang Seng Management College and experts from TransUnion.
Commenting on the initiative, Lawrence Tsong, President of Asia Pacific at TransUnion, said, "We see as crucial the task of raising risk management standards within the Hong Kong banking industry and the general public. Credit risk is rising, as revealed by an increasing credit card delinquency ratio and household debt to GDP ratio in Hong Kong and many parts of the world. The growing popularity of e-finance and borrowing from non-traditional money lenders has also exposed the banking industry and consumers to more ID theft and fraud risks."
"As the global leader in information and risk management, TransUnion aims to bring value to the local banking industry and economy at large by sharing our knowledge of global best practices for credit risk management. We have already launched similar training programmes in the Asia Pacific, and received positive response from local banking and credit bureau professionals. We are glad to introduce this programme in Hong Kong and to partner with a leading educational institution like Hang Seng Management College to offer the first course to Chong Hing Bank. Through the programme, we hope to further enhance Hong Kong's position as an international financial centre."
Professor YV Hui, Vice-President (Academic and Research) of Hang Seng Management College, said, "Hang Seng Management College has been offering degree programmes for the past five years. While striving to become a leading private university, we have also set up the Executive Development Centre to provide quality executive education for corporations and individual executives. The collaboration with the industry leader, TransUnion, demonstrates our perceived high standard in executive training delivery. Our Research Institute for Business, under School of Business, also offers research support to our business partners and stakeholders for the benefits to the community."
Frederick Yip, General Manager and Head of Credit Risk Management Division at Chong Hing Bank, said, "We are grateful to join the first Credit Risk Management course co-organised by TransUnion and Hang Seng Management Colleague. Offering credit to individuals is one of the major businesses of a commercial bank while credit risk of personal customers is a major risk a financial institution needs to manage nowadays. This Credit Risk Management course is able to provide a comprehensive understanding of latest market practice in consumer credit process and equip the participants with professional knowledge. In managing credit risk, Chong Hing Bank always keeps abreast of latest industry knowledge in order to formulate the most appropriate solution."
According to Mr. Tsong, TransUnion will also be launching basic training courses to the general public in partnership with selected non-governmental organisations (NGOs) or public bodies later this year to educate consumers about personal credit risk management as well as credit reporting and scoring, which will help consumers achieve better credit health.
Established in 1982 as Hong Kong's first-and-only credit reference agency, TransUnion now maintains records on 4.95 million consumers in Hong Kong. In addition to consumer credit reporting, TransUnion also provides a broad range of innovative information solutions for businesses.
About TransUnion (NYSE: TRU)
Information is a powerful thing. At TransUnion, we realize that. We are dedicated to finding innovative ways information can be used to help individuals make better and smarter decisions. We help uncover unique stories, trends and insights behind each data point, using historical information as well as alternative data sources. This allows a variety of markets and businesses to better manage risk and consumers to better manage their credit, personal information and identity. Today, TransUnion reaches consumers and businesses in more than 30 countries around the world on five continents. Through the power of information, TransUnion is working to build stronger economies and families and safer communities worldwide. We call this Information for Good. www.transunion.hk
About Executive Development Centre & Hang Seng Management College
Executive Development Centre (EDC) is established to offer top notch executive development programmes to assist executives to pursue continuous education for career advancement. EDC programmes are conducted by experienced HSMC professionals and partners from reputable institutions. We provide corporate training and consultancy services on a wide range of areas that cover business and social services. Visit EDC.hsmc.edu.hk for more information.
Hang Seng Management College (HSMC) was restructured from the former Hang Seng School of Commerce and established in 2010 as a non-profit-making private university-level institution with five Schools (Business, Communication, Decision Sciences, Humanities & Social Science, and Translation). Adopting the unique "Liberal + Professional" education model, HSMC is a modern residential-type college which puts quality teaching and students' all-round development as its highest priorities. Aspiring to be a leading private university in Hong Kong, HSMC features top-quality faculty members, award-winning green campus facilities, innovative degree programmes, active research and excellent student support services, with the aim of nurturing young talents with independent thinking, innovative minds, human caring, ethical values and social responsibilities.
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