Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
subscribe to our newsletter

New credit report provider launches in Australia

A new credit report provider has launched in Australia, providing users with free credit scores and reports as well as a marketplace for home loans, personal loans and credit cards.

ClearScore, a UK-based fintech that also has arms in South Africa and India, has now launched in Australia, enabling Australians to access their credit score and report for free using ClearScore’s website and Android app (with iOS capability expected to launch in due course). 

The fintech, which utilises credit information provided by Experian, has said that it aims to “play a key role in the fabric of Australia’s credit landscape in the wake of the financial services royal commission”, particularly as the royal commission “showed how important it is for Australians to develop their understanding of credit and lending”.

Advertisement
Advertisement

Moreover, ClearScore commissioned Feedilicious to survey 1,058 respondents earlier this month, which found that while 41 per cent of Australians have taken out some form of credit in the past 12 months, 52 per cent have never checked their credit score, and 12 per cent have never heard of a credit score. 

The company also found that 34 per cent said it was complicated to find the best loan or credit card, and 55 per cent stated it was too much hassle to apply. 

As such, the company is also launching coaching plans for users to help them “achieve their financial goals” by providing education around “financial basics” and “tailored support according to the user’s unique circumstances”, supported by a chatbot.

It is also providing a marketplace to help Australians to find deals on credit cards, personal loans, home loans and more. 

Commenting on the launch, ClearScore CEO and founder Justin Basini said: “People around the world turn to us because we make personal finance easier to understand. We help to create greater financial wellbeing, and we’re thrilled to bring our offering to Australia to help Australians make the right financial decisions for their circumstances.” 

[Related: Major bank launches free credit check]

New credit report provider launches in Australia
mortgagebusiness

Reporter

If you have any news, ideas or enquiries for Mortgage Business - please contact This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Latest News

The major has conceded that its AML/CTF compliance failures were partly due to “deficient financial crime processes, compounded by poor in...

AMP Bank has launched a range of technology enhancements to its home loan process, including digital pre-application, electronic signatures ...

The “mortgage-focused” model of the major banks will help them absorb an acceleration in fintech adoption in response to COVID-19, accor...

FROM THE WEB
podcast

LATEST PODCAST: Property remains a stable asset despite cautious market

Do you expect COVID-19 to reduce or increase your business flows?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.