Redefining credit scores
The cornerstone of the Svalbard experience is a redefined credit score system, offering a more nuanced and actionable view of users’ credit health. Key features of this new approach include:
- Foresight – An advanced predictive analytics tool powered by machine learning, forecasts how specific financial decisions—such as taking loans or missing payments—will impact individual credit scores. This enables users to make more informed decisions.
- Compass – A sophisticated goal-setting system, provides users with personalized roadmaps to achieve their desired credit scores, analysing credit patterns and offering time-based predictions for success.
- Aurora – A feature that turns static credit scores into dynamic financial narratives. This includes a custom typeface and the ‘Halo’—a ring of light that celebrates progress and provides gentle guidance during setbacks.
- Key Factors – A clear report card of credit health, breaking down key metrics such as payment history, credit usage, and account longevity, with color-coded visuals and actionable insights.
Enhanced control over credit card management
CRED’s new credit card management tools bring unprecedented clarity and control to users. Highlights include:
- A unified dashboard that consolidates multiple credit card statements into a single, clear view, with intelligent mapping of future EMI obligations to avoid surprise commitments.
- Real-time monitoring that tracks credit utilisation and provides a holistic view of spending patterns across all cards, processing over 10 million unbilled transactions daily with 92% categorisation accuracy.
- CRED Protect-powered anomaly detection, which scans transactions for hidden charges or unusual patterns, helping users avoid costly mistakes.
- Interactive live versions of over 400 credit cards, providing real-time contextual information and instant alerts for enhanced control.
- A gesture-based interface that makes managing multiple cards effortless, with intuitive actions for quick access and detailed information.
Liquidity Without Liquidation
With 97% of credit card holders utilising EMIs or loans and 63% holding mutual funds, CRED Cash+ provides a solution to unlock liquidity without the need to liquidate investments. Features include:
- Fully digital credit lines against mutual fund investments, with rates starting at 8.99%, and instant fund transfers with just a few taps.
- Automatic bundling of investments to optimize for the lowest risk of liquidation, using advanced models that assess mutual fund volatility patterns.
Kunal Shah, founder of CRED, said, “With Svalbard, we’re transforming credit into a force for financial progress. In a country where most find debt stressful, we’re recognising and rewarding responsible behaviour, turning credit from a source of anxiety into a growth accelerant.”
