Finance Breaking news CBA integrates Credit Savvy into app last financial news

Breaking-Finance.Com - With Aussies increasingly checking their credit scores during the Covid-19 pandemic, Commonwealth Bank of Australia has integrated services from Credit Savvy directly into its app.

Finance Breaking news CBA integrates Credit Savvy into app last financial news

Breaking-Finance.Com - With Aussies increasingly checking their credit scores during the Covid-19 pandemic, Commonwealth Bank of Australia has integrated services from Credit Savvy directly into its app.

Finance Breaking news CBA integrates Credit Savvy into app last financial news
08 October 2020 - 23:15

Breaking-Finance.Com - With Aussies increasingly checking their credit scores during the Covid-19 pandemic, Commonwealth Bank of Australia has integrated services from Credit Savvy directly into its app. With the pandemic causing financial uncertainty for millions, Credit Savvy reports that more than 600,000 people checked their credit score between March and August, a 36% increase on the same period in 2019.Leo Hillary, MD, Credit Savvy, says: "With many Australians having to make the difficult decision to defer their loans, or make other adjustments to their finances, it is no wonder people wanted to know how this would affect them and their financial future."Launched by CBA four years ago, Credit Savvy was rolled into the bank's X15 Ventures startup incubator earlier this year. Now the its services will be offered directly to CBA customers though the bank's app.The move coincides with the launch of two new features designed to help Australians better understand their credit score and how and why it can change, as well as how they manage their finances.

. The factors are categorised into three types: helping, hurting, and opportunity.People who have a negative event on their credit file such as a default or court judgement, will have a ‘hurting’ factor and be provided with tips on how they can demonstrate good credit behaviour.Credit Savvy has also introduced Financial Wellbeing, a measurement tool developed by CBA and the University of Melbourne, which will help its members to assess their overall financial wellbeing. Members can complete a short survey on their current financial situation and will then be provided with a financial wellbeing score between 0 and 100.Says Hillary: "Providing these new tools will help our members to understand their overall financial position in even more detail which will be essential in working out their next steps during these challenging economic times."

Source = Breaking-Finance.Com

Financial breaking news

This news 16 hits received.

Finance Breaking news CBA integrates Credit Savvy into app last financial news


Finance Breaking news CBA integrates Credit Savvy into app last financial news


Finance Breaking news CBA integrates Credit Savvy into app last financial news


Finance Breaking news CBA integrates Credit Savvy into app last financial news

COMMENTS

  • 0 Comment
MAY INTEREST YOU x
Finance Breaking news Westpac sells stake in BNPL firm Zip for $337 million last financial news
Finance Breaking news Westpac sells stake in BNPL firm Zip for $337...
Finance Breaking news From hypotheticals to reality: P27 cogs are well and truly turning last financial news
Finance Breaking news From hypotheticals to reality: P27 cogs are...