Customers can now download an app to track their credit score and real-time likelihood of being accepted for credit, access their full credit report and receive alerts and notifications of changes.
TotallyMoney’s Live Credit Score service can now be accessed through the new app available for both iOS and Android users. The app provides customers with up-to-the-minute information about their credit score each time they log in. Customers can also access six years’ of credit history information in a free credit report and receive real-time notifications to help them understand any changes in their live credit score.
Customers can use the TotallyMoney app to track their likelihood of being accepted for credit. TotallyMoney’s unique Borrowing Power algorithm is built into the app – it uses information from both the customer’s current credit position and real-time, market-wide lending decision data – to give the customer an at-a-glance view of their chances of getting credit.
App users can also see details of any searches that have been made on their credit file. Careful monitoring of credit search history can be useful in spotting attempted fraudulent activity. And with the TotallyMoney app, this facility is right at the user’s fingertips.
Simple, free, safe
Once they’ve downloaded the free app, the user answers a few simple questions to complete their profile. No credit card details are required to complete sign up and it has no impact on the user’s credit rating.
The app is totally free to use and the user can check their credit score as often as they like without any impact on their credit rating.
Smarter credit decisions
The app has been built to help customers make smarter credit decisions and take control of their finances:
Live Credit Score – your current credit position, updated each time you sign in to the app.
Borrowing Power – a real-time view of how likely you are to be accepted for credit.
Intelligent Alerts – notifications of changes in your credit score and credit eligibility.
Bespoke Personalisation – Helps you make the best credit application choices by simplifying product comparison.
The app was built using React Native – a framework developed and supported by Facebook and used by some of the largest digital brands including AirBnB and Instagram. Using React Native enabled the TotallyMoney developers to create a single codebase that could be used in both iOS and Android native apps. This approach also makes it easier to deliver regular updates and feature releases to ensure that the app continues to deliver real value for customers.
Building a fairer consumer credit market
Customers can use this app to take action. They can improve their credit score and boost their Borrowing Power by following personalised tips and suggested actions. They can see their best credit matches 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.
“The launch of this app takes us another step closer to realising 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.”
TotallyMoney provides customers with a free Credit Report and Live Score 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.