ClearScore opens up customer finances
By Teamspirit on Sunday, 22 July 2018
ClearScore is again aiming to disrupt the financial industry, this time with a product known as OneScore. This new service aims to give people an accurate overview of their personal finance standing, including their spending, assets, debts, savings and protection.
Back in 2015 this endeavour wouldn’t have been possible. But the advent of the Open Banking initiative has made it possible to see all our information in one place.
ClearScore hopes that, as they bring everything together, they can neatly segue into offering advice and recommendations, such as content on improving your financial wellbeing and the chances of meeting your financial goals.
It’s a good example of a brand taking an industry-wide initiative like Open Banking and using it to create a practical, customer-focused solution while – they hope – extracting some benefit for themselves.
Making financial products easier to access is an admirable goal, but it’s just one part of a complex problem. In the long-term, handing users insights and content that can help them become more financially stable will yield far greater rewards, for ClearScore and for the customers themselves.