Credit Kudos named partner for Curve Credit20 Apr 2021
Curve has partnered with challenger credit reference agency, Credit Kudos, to strengthen its affordability and risk assessments for customers of its new Curve Credit product
Credit Kudos uses Open Banking to provide lenders with real-time insights into a borrower’s financial situation, and to give a fuller view of an individual’s real-time financial health
Credit Kudos was selected for its award-winning Open Banking insights, enabling Curve Credit to perform fast and accurate affordability assessments for all Curve Credit customers.
20 April 2021, London – Credit Kudos, the challenger credit reference agency and Open Banking provider, today announced they have been selected as the Open Banking provider for Curve, the fintech that brings your cards into one smart card and app, for its forthcoming Curve Credit product.
Powered by Open Banking, Curve Credit allows customers of Curve to pay for purchases in instalments, spreading payments over three to twelve months - in-app. Offering transparent and fair terms, Curve's customers will be able to split the instalments at the point of purchase, or after they’ve paid for an item: they can "go back in time and pay later."
Leveraging Credit Kudos’ award-winning insights, built from Open Banking data, Curve will be able to better assess an applicant’s affordability and creditworthiness. Credit Kudos’ Affordability Insights solution provides insights into an applicant's affordability at speed through their intuitive dashboard, Atlas, or quick API, for a robust and seamless assessment process.
Curve Credit is currently in beta testing and is expected to launch widely in the coming months.
Paul Harrald, Head of Curve Credit, said: “With the right approach, credit can enable financial freedom; allowing people to access the finance they need to meet unexpected needs and take advantage of new opportunities. The forthcoming launch of Curve Credit and our partnership with Credit Kudos, another disruptive fintech, will bring us a giant step closer towards truly simplifying our customers’ finances, putting them in control and allowing them to more easily manage their monthly outgoings.
Freddy Kelly, Co-Founder and CEO, Credit Kudos, added: “Our technology is transforming and modernising the lending sector to benefit both lenders and borrowers and we’re excited to partner with Curve as part of our mission to make credit fair and accessible to all. People increasingly want personalised, flexible financial products and over the past 12 months we have seen a number of innovations developed leveraging Open Banking insights, such as the soon-to-launch Curve Credit. We’re excited to be working with Curve to power faster and more accurate affordability assessments for this new product - so it can bring further innovation and financial flexibility to UK borrowers.”
About Credit Kudos:
Credit Kudos is an FCA-authorised credit reference agency and Open Banking Account Information Service Provider (AISP) that uses financial behaviour to measure creditworthiness. Through direct connections to the UK’s largest banks, Credit Kudos aggregates and interprets transaction data for use by lenders, brokers, and financial institutions. Credit Kudos goes beyond traditional scoring, providing a comprehensive view of a borrower’s creditworthiness. We transform complex sets of information in our easy-to-use, digital first tools to help everyone make better lending decisions.
Credit Kudos most recently won ‘Innovation of the Year’ and ‘Credit Information Partner of the Year’ in the Consumer Credit Awards 2020 and was named one of the top fintechs in Europe to watch in the FinTech50 2020. Credit Kudos’ founder, Freddy, was also named in London’s Most Influential People 2019: Fintech and Banking.
Curve is a fintech that combines multiple cards and accounts into one smart card and even smarter app. The unique Curve card allows customers to supercharge their legacy bank accounts in to the 21st century without leaving their bank. Curve is live in 31 markets across the UK and Europe, and plans to launch in the US later in 2021.
Curve offers a host of benefits to its customers, including instant notifications and categorisation across their spend, the capacity to earn instant 1% cashback at selected retailers such as Amazon, Uber, Netflix and Tesco, the ability to fit their cards into Google Pay, Apple Pay and Samsung Pay, even if their banks don’t support this, and Curve’s patented Time Travel functionality, which enables customers to swap spend to a different card in the app for up to 90 days after the purchase was made.
Curve supports Mastercard® and Visa networks. The Curve Card and e-money, related to cards issued in the UK, is issued by Curve OS Limited, authorised in the UK by the Financial Conduct Authority to issue electronic money (firm reference number 900926). The Curve Card and e-money, related to cards issued in the EEA, is issued by Curve Europe UAB, authorised in Lithuania by the Bank of Lithuania (electronic money institution license No. 73 issued on 22 of October, 2020).
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