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Credit Kudos to develop consumer eligibility solution for ClearScore

Freddy Kelly, CEO of Credit Kudos

UK FinTech ClearScore has announced the launch of its open banking powered-eligibility solution in partnership with Credit Kudos. The solution is expected to allow ClearScore to provide customized offerings to users with the application of open banking data and assist the customers who are either unable to use credits or loans or are forced to use high-cost options.

Andy Sleigh, COO of ClearScore, commented, “At ClearScore, our aim is to help everyone, no matter what their circumstances, achieve greater financial well-being. However, it remains that a large proportion of the UK population is underserved by financial institutions and still held hostage by their circumstances. By partnering with Credit Kudos, we are aiming to change this. By providing lenders with more information via our open banking integration to improve their decision process and affordability assessments, we will open up the credit market to thousands of underserved users who have previously been rejected.”

According to the supplier, the new solution will provide lenders access to decision models, product opportunities, up-to-date information as well as provide risk and affordability measurements. Borrowers will be able to securely share data from their bank accounts, thus increasing their chances of being approved for credits.

Freddy Kelly, Credit Kudos CEO and Co-founder commented, “Together, ClearScore and Credit Kudos will revolutionize how lenders are currently assessing prospective users – and particularly those who are currently overlooked or who are underserved borrowers. This is a significant development for the sector, and we’re excited about the potential that this new solution will deliver to both users and lenders.”

Recently, UK-based online mortgage broker Mojo Mortgages announced the launch of its market service, MortgageScore in partnership with Credit Kudos.

Credit Kudos

Established in 2015 in London, it is an FCA-authorised credit bureau that uses financial behavior to measure creditworthiness. It aggregates and interprets transaction data for use by lenders, brokers, and financial institutions and provides a comprehensive view of a borrower’s creditworthiness.

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