Consumer credit reporting agency TransUnion has partnered with a Baihang Credit, Chinese licensed personal credit reference agency, to promote financial inclusion in the Greater Bay Area (GBA).

This partnership will enable mainland consumers to have efficient and convenient access to credit and other financial services from Hong Kong financial institutions and vice versa for the Hong Kong consumers.

Additionally, the collaboration will also support credit providers in preventing fraud and making holistic lending decisions powered by TransUnion’s solutions.

Marie Claire Lim Moore, Asia-Pacific regional president and Hong Kong CEO at TransUnion said,

“The strategic cooperation with Baihang Credit will see us explore how our companies can support consumers in accessing financial services and lending products seamlessly across the GBA, while also facilitating financial institutions in providing tailor-made products for consumers.”

Wang Xiaolei, Chairman of Baihang Credit said,

“The strategic cooperation marks a significant step forward in the cooperation of credit reference agencies in the GBA. Baihang will continue to pursue development based on market principles, rule-of-law, and technological advancement.”