ClearScore reveals World’s First Chatbot to improve Credit Confidence

ClearScore reveals World’s First Chatbot to improve Credit Confidence
23.02.2017 12:30 pm

ClearScore reveals World’s First Chatbot to improve Credit Confidence

Banking , IT Innovations

ClearScore, the UK’s leading credit checking service provider, is aiming to help millions of people improve their credit score with the launch of ‘Coaching’ available for free to all today. Coaching is the first bot-based programme in the world to help Brits refine their credit credibility and ability to get the best financial deals available.

Depending on whether someone has a thin credit file, has faced financial challenges in the past or just wants to fine tune their finances, ClearScore will automatically recommend the right Coaching programme for them, accessible through their free ClearScore account.

The Programmes:

  • Build introduces young people, who have little experience with credit and therefore thin credit files, to their credit score and report, and provides practical steps to help build a file from scratch. These people would typically have had limited access to good credit products (such as phone contracts or low-interest credit cards) because of their ‘thin file’ status. 
  • Repair helps people whose score has been damaged in the past, for example by bankruptcy or a CCJ.
  • Shape Up is a programme for anybody in a healthy credit situation who is interested in coaching to improve their finances in general.

The Coaching programme uses the latest bot-based technology and popular ‘chat’ format to help people get to grips with their finances. Each programme uses simple language to boost confidence, before recommending easy steps and small changes people can make to boost their credit rating in the form of tailored ‘To Do’ lists. Interactivity, GIFs and emoticons are included to make the five minute programmes engaging and relevant for the user. 

When ClearScore tested Coaching with a beta trial, it revealed high demand and engagement from the users. Nearly two thirds (63%) of those inexperienced with credit completed their personalised programme. More than four in five (81%) say they’ll come back every month, with more than a third (36%) of those saying they will do so weekly. The majority (80%) of those who tried Build say they will come back to complete the recommended actions to improve their finances. 

 

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