Credit scores can be something of an oblique metric by which our access to finance is so often determined. With little insight into both what our scores are, and what we can do to rectify matters, it can feel somewhat hopeless.
Credit checking service ClearScore are attempting to help with the recent launch of a chatbot to coach people on how they can improve their scores.
The bot aims to guide people in the right direction whatever their starting point, whether they want to fine tune their finances or make more drastic changes.
The coach offers three core programs:
- Build, which is designed for young people who want to learn about credit scoring and how they can develop a strong rating from a low start point.
- Repair, which is for those with a damaged credit rating.
- Shape up, which is for people with a reasonable rating who just want to fine-tune it.
Each program is designed to coach the user through an improvement in their finances using simple, straightforward language that boosts their confidence and provides a number of simple steps they can take via a custom to do list.
Initial results
In initial tests of the application, the engagement levels were high, with 63% of users completing their customized program despite having little experience of credit improvement methods. What’s more, over 80% of users said they would come back regularly to gradually try and improve their credit rating.
“We’ve launched Coaching to give people practical steps they can take to make a real positive impact on their personal finances. Everyone has a different experience, tailored to them, so whether you’ve got a thin file or had financial difficulty in the past there are easy steps you can take to improve your financial future,” ClearScore say.
