CALLCREDIT HAS TEAMED UP WITH TOTALLYMONEY TO LAUNCH A FREE LIVE CREDIT SCORE SERVICE
Customers can now track their credit score and likelihood of being accepted for credit, access their full credit report and receive alerts and notifications of changes. All totally free.
LONDON, 18 SEPTEMBER 2017 – TotallyMoney has launched a Live Credit Score service that provides customers with information about changes in their credit status each time they log in. Credit file data is provided by Callcredit and customers now have access to six years’ of credit history information and receive real-time notifications to help them understand any changes in their live credit score.
The TotallyMoney service introduces an innovative new sign-up process that removes the requirement for customers to provide any credit card details as part of the ID verification. Developed by Callcredit and rolled out first to TotallyMoney, this new sign-up makes it easier for customers to get their credit report while still providing secure registration and data security.
The TotallyMoney service also introduces a unique, proprietary Borrowing Power algorithm. Under a different credit reference agency partnership, this uses information from both the customer’s credit position and real-time market-wide lending data, to show them how likely they are to be accepted for credit, without impacting their credit rating.
While the Credit Report helps customers understand their financial history and their Live Credit Score tells them about their current position, Borrowing Power helps them build a better financial future.
Smarter Credit Decisions
TotallyMoney has designed a suite of free tools to help customers understand their Callcredit credit file information, make smarter credit decisions and take control of their finances.
TotallyMoney’s four new tools put more power in the hands of customers:
Customers can use this credit information to take action. They can work on improving their credit score and boost their Borrowing Power by following personalised tips and suggested actions. They can see credit matches tailored to their circumstances, ranked according to the TotallyMoney’s decision algorithm, Match Factor, and target their credit applications accordingly to give themselves the best chance of being accepted.
These new services build on the powerful, personalised credit comparison platforms that TotallyMoney has developed and that power some of the UK’s most forward-thinking financial brands. TotallyMoney’s data-led insights enable their lending partners to design and market better products to TotallyMoney customers.
Alastair Douglas, TotallyMoney CEO says: “Our mission has always been to help people get a better deal from the credit industry. And we believe that technology can bring about that change by empowering customers and challenging lenders.
“This suite of tools is available totally free for all TotallyMoney customers, and takes us a step closer to our goal of a fairer consumer credit market.
“We’ve built a product that gives everyone the best opportunity to make the most of their credit, no matter what their current status.”
Jacqueline Dewey, Managing Director – Consumer team, Callcredit said: “We’re delighted to be chosen as data partner for TotallyMoney’s new service expansion. This partnership underlines Callcredit’s reputation for being an innovative and consumer-led bureau.
“By combining TotallyMoney’s financial product comparison and UX expertise with Callcredit’s leading data assets and consumer credit knowledge, we’ve created a service that will empower consumers to better understand their credit position and make smarter borrowing decisions.”
Callcredit Consumer Limited supplies credit report and score data to TotallyMoney using its Group company Callcredit Limited. Callcredit is in the business of empowering information. We provide the data, analytics, and software that enable businesses to build more valuable customer relationships. We specialise in managing consumer data for businesses across every sector.
The Group is structured into three geographic markets: UK, North America, and International Markets. The markets are supported by three specialist line of business teams: Credit and Marketing Data, Software, Analytics & Fraud, and Consumer Markets. Callcredit focuses on developing innovative products and services across these specialisms to help businesses make smarter and informed decisions throughout the customer lifecycle.
Founded in 2000, Callcredit Limited is the UK’s second largest credit reference agency (CRA) and employs more than 1,200 professionals across Leeds, London, Stockport, Warrington and Kent, and its international offices in Spain, U.S., Japan, China, Dubai and Lithuania and also has agents working across international markets. In 2014 the Callcredit Group was acquired by private equity business, GTCR.
TotallyMoney provides customers with a free Live Credit Score & Report that puts them right at the centre of their credit data, helps them make smarter decisions and take control of their finances.
TotallyMoney’s unique Borrowing Power algorithm shows customers how likely they are to be offered credit by real-world lenders.
TotallyMoney is an independent credit broker, not a lender. It provides a free comparison service to customers, though they may be paid a fee by lenders. How much they get paid doesn’t influence how the service works or the ranking of any credit products presented to customers.