CreditAngel

“We are impressed with how much insight Hello Soda software provides. Using PROFILE has enabled us to interact better with our customers through personalising the loan application process and empowering consumers to better understand traditional and alternative credit scoring.”

— Tim Kirby, Group Sales Director, CreditAngel.

CreditAngel is a membership service which provides consumers with access to their credit score and credit report. They offer customers access to a variety of consumer credit offers, as well as other ways to borrow such as credit cards and other types of loans, and gives them the highest likelihood of being accepted for these. Once a member, customers can see their report at any time they like and this is updated regularly, with alerts delivered any time information on their credit report changes.

Objectives

CreditAngel’s ultimate goal is to empower consumers to make informed credit decisions and personalise the process of credit/loan applications. A priority of CreditAngel’s is to find a way to offer customers access to loans based on more than just traditional credit data.

Solutions

Our software PROFILE takes data from consumer’s social media accounts and generates scores based on this. Our technology analyses unstructured date (noise) from social media profiles and brings back scores and features such as ID score, Fraud score, Overall score, and more, turning big data into smart data. PROFILE speeds up the application process, and the decision making process so that lenders can determine credit-worthiness, verify ID and detect fraud all while ensuring a smooth user journey. By giving consumers access to this, CreditAngel empower them to see what lenders see and optimise their online presence so that they can gain access to financial services that may not otherwise be possible through traditional credit checks.

Results

By using Hello Soda’s unique software, CreditAngel have seen:

  • Increased customer retention
  • Improved interaction with customers

PROFILE has enabled CreditAngel to empower consumers by giving them the means to provide customers with access to their alternative credit report and score and helping them understand the role of social media in their applications. CreditAngel also utilise PROFILE to monitor users’ social profiles and alert them of any significant changes so that consumers can always be aware of the consequences of their social media posts and activity.

 

Author Clare Palmer