Credit, in whatever shape or form, makes the world go round. Whether it's buying a phone, a car or a house, your creditworthiness can be a help or a hindrance you don't realise you have until it's too late.
The problem is that credit scoring methods are based on data points that are becoming increasingly irrelevant: whether or not you're on the electoral roll, how long you've lived at your address and how often you apply for credit. These methods aren't just unhelpful; they actively punish borrowers at the lower end of the income spectrum, meaning consumers have to resort to high-cost credit that doesn't improve their credit score.
We believe the only fair way to assess your financial health is to actually look at financial behaviour, and that's what we're doing. We let customers harness their Open Banking data from their online bank accounts and create models of creditworthiness based on that. It's like a passport for financial services.
We're building a world where applying for any kind of financial service is as easy and familiar as logging in with Facebook.