Borrowell Launched a Free App to Help Canadians Learn Their Credit Score
Grace Mahas — May 22, 2019 — Tech
Borrowell, a Toronto-based company, has announced its newest app, 'Credit Coach,' which allows Canadians to break down their credit scores and reports. The app is powered by artificial intelligence and allows users to compare their credit scores with the national average. The app also reminds users when they've missed a payment or if they aren't making the most financially savvy decision.
Credit Coach simplifies consumers' credit scores and reports so they can better understand what factors influence it. Borrowell focuses on teaching Canadians that checking your credit score doesn't negatively impact your score and "is a key part of your overall financial health." Borrowell has already partnered with various financial services companies to help consumers better understand their unique credit profiles. It has helped over 800,000 Canadians receive their credit score. With the many-to-many concept being applied, Borrowell's app is well equipped to assist consumers to make informed decisions to improve their financial standing.
Image Credit: Borrowell
Credit Coach simplifies consumers' credit scores and reports so they can better understand what factors influence it. Borrowell focuses on teaching Canadians that checking your credit score doesn't negatively impact your score and "is a key part of your overall financial health." Borrowell has already partnered with various financial services companies to help consumers better understand their unique credit profiles. It has helped over 800,000 Canadians receive their credit score. With the many-to-many concept being applied, Borrowell's app is well equipped to assist consumers to make informed decisions to improve their financial standing.
Image Credit: Borrowell
Trend Themes
1. AI-powered Credit Coaching - The trend of personalized, AI-powered credit coaching apps is disrupting traditional credit reporting and financial coaching services.
2. Financial Health Apps - The trend towards financial health apps that use AI and data analysis to help people manage their money more effectively is growing rapidly.
3. Credit Score Tracking - The trend of using AI and machine learning to track and analyze credit scores is reshaping the financial industry.
Industry Implications
1. Financial Services - The financial services industry is being disrupted by apps like Borrowell's Credit Coach, which make it easier for consumers to understand and manage their credit scores.
2. AI Technology - The AI technology industry is providing innovative solutions to traditional financial management problems, as seen in apps like Credit Coach.
3. Consumer Technology - The consumer technology industry is facilitating the trend of using AI-powered apps to improve financial literacy and management for everyday people.
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