Equifax UK and Curve to offer consumer credit solution to Curve Credit
By Megha Bhattacharya
Equifax UK has teamed up with UK consumer FinTech and payment card app Curve in a bid to deliver verification and ID solutions to its personal finance product, Curve Credit. The offering allows consumers to pay later via instalments on transactions made with their Curve card. The agreement will provide Curve Credit with market-specific scores that assess a customer’s credit risk and affordability, helping to make accurate credit decisions at the point of application and allowing new customers to be onboarded quickly.
Gary Brown, Sales Director at Equifax UK, said, “Curve Credit’s unique solution offers customers greater autonomy and flexibility over their personal finance decisions, which is extremely important in the current climate. We’re delighted to be partnering with Curve, providing insightful data and best-in-class technology, to support responsible credit decisions that put consumers in control.”
Paul Harrald, Head of Curve Credit, said, “Curve Credit is focused on empowering consumers to make better financial decisions. Equifax’s world-class data service and technical expertise, combined with their challenger mindset and clear commitment to the Open Banking experience, makes them the best possible partner in this mission.”
Recently, Curve raised $95 million as a part of its Series C investment round. The funding round was led by IDC Ventures, Fuel Venture Capital and Vulcan Capital (the investment arm of the estate of Microsoft co-founder and philanthropist Paul G. Allen), with participation from OneMain Financial, the US personal finance company, and Novum Capital.
Equifax also announced that its subsidiary has acquired transaction data analytics company AccountScore with an aim to boost its Open Banking and insights capabilities. The acquisition will see Equifax enhance its consumer and commercial product offerings, combining traditional credit bureau information held by Equifax with bank transaction data, facilitated by AccountScore.
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