Tech Intelligence Bulletin (HG Insights) – OutSystems has announced that CredAbility has used the OutSystems low-code platform to deliver a new financial wellbeing service.
CredAbility aims to help consumers manage their credit score and lead better financial lives as well as bring innovation to an established market. The service is designed to help consumers demystify the complex world of finance and make better-informed financial decisions, giving free access to their credit score and report information along with the ability to check their eligibility for loans and credit cards in order to help them make better financial decisions.
Ambitious Fintech business
The service CredAbility provides is just the beginning for this ambitious Fintech business. It offers a credit score and detailed report information to its customers, with an option to check eligibility for lending products should an individual be looking to borrow. Consumers have an option to tailor action plans to meet their individual goals. For example, this may be providing guidance on how to improve their credit score, or ensure consumers are in the right financial position to apply for a mortgage or buy a car.
Half a million consumers
CredAbility used the OutSystems low-code platform to design, develop, and deliver the new website and product. This will be followed in quick succession by a mobile application as CredAbility continues to evolve the customer experience. CredAbility has more than half a million consumers ready to use the new service at launch.
“We wanted to move fast and were keen to work in an iterative and agile way in order to get our product ready to launch in as short a time as possible,” said Geoff Dearden, Director for CredAbility. “I was pleased with how quickly OutSystems was able to respond and help us deliver this.”
Online guided Chatbox
Alongside its credit scoring and reporting service, CredAbility also provides an online guided Chatbox to help direct consumers to the right financial support and services. This sophisticated service has the ability to accurately judge an individual’s personal situation and, through a set of complex algorithms, takes them on a journey to find the best products and services, with recommendations that are tailored to their personal requirements.
“This is a really exciting opportunity to be working with such a vibrant and innovative Fintech, which is providing exceptional services to help consumers better manage their finances,” added Garry Larner, Regional Director for Financial Services and Insurance at OutSystems. “Today, financial wellbeing is about having a sense of security and ensuring consumers have the right access to the right products and being in control of their day-to-day finances while having the financial freedom to make choices that allow you to enjoy life.”