NatWest teams up with TransUnion to boost credit scoring for customers
By Megha Bhattacharya
NatWest recently announced that it has integrated further data, via TransUnion’s Consumer Credit Platform, to its banking application. This is expected to enable customers to see enhanced credit score information and become more financially capable.
The Bank stated that customers using the service will gain unlimited free access to their TransUnion credit score, via an interactive dashboard. With the addition of credit score factors, customers will now see what information is affecting their score, either positively or negatively, providing additional insights into their financial status.
Kelli Fielding, Managing Director of consumer interactive at TransUnion in the UK, said, “We’re delighted to expand our existing partnership with NatWest to help empower their customers with enhanced credit score information. According to our recent research, one in three* UK consumers have checked their credit score during lockdown, with four million people looking at it for the first time, so we know there’s a clear demand, particularly in light of COVID-19.”
The collaboration will also enable the customers of the Royal Bank of Scotland and Ulster Bank to check their enhanced credit score information on their banking app. Credit scores will be available once opted in through the app, to customers aged 18+, with a UK address and is provided by TransUnion.
Phil Sheehy, Short Term Borrowing Customer Goal Lead at NatWest commented, “At NatWest we champion potential, we want to build financial capability, and we want to give customers greater control over their spending. When we introduced the credit score feature into our app, the positive response was overwhelming – with our target annual registrations exceeded in just two months. We’re proud to be offering greater personalisation, using TransUnion data to give our customers insights into what they are doing well and what steps they could take to improve their credit score.”
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