ClearScore, one of the United Kingdom's leading credit marketplaces, today announces its launch in Canada, offering greater transparency in credit scores and reports to the market through its innovative, free-to-use app. With over 17 million users worldwide, ClearScore is already a market leader in the UK and South Africa, as well as gaining significant traction in Australia. Canada is ClearScore's fourth market, going live in September and already attracting over 30k users.
ClearScore gives people free access to their credit report to help them understand and improve their financial situation, as well as monitor for fraudulent activity through 'ClearScore Protect', a free ID monitoring report that allows people to check that their passwords are not compromised on the dark web. Over and above understanding their data, ClearScore helps people access, and save money on, credit cards, loans and mortgages by presenting them with a personalized recommendation on the best rates and rewards. Users can sign up and monitor their credit score directly on the website, clearscore.com/ca, and can also download the app on their phone for an easier way to track both their score and relevant offers.
"We're a business that is dedicated to helping our users improve their financial wellbeing, and we do that through transparency in credit reports and data-driven, personalized offers on credit cards, loans and mortgages to save people money. As a user-first organization, the financial products that people see on our site are not influenced by commission from our partners; the offers are presented in a clear, straightforward manner with the user's best interest in mind.
- Tassie Milne, General Manager of ClearScore Canada
We achieved phenomenal success in the UK and other markets, and now is a great time for us to help Canadians, with the cost of living posing a big issue for many Canadians, coast to coast.
ClearScore Canada is based in downtown Toronto with global headquarters in London, UK. The company has partnered to offer exclusive offers with many leading Canadian financial services providers. ClearScore also partners with TransUnion to provide credit scores and report data, adding its unique analysis of the factors which could boost or damage an individual's credit score. ClearScore educates users on how to understand and improve their credit score, which in turn can benefit people by allowing them to access more credit offers and improve their chances of approval.
Justin Basini, CEO and Co-founder of The ClearScore Group, said More and more people around the world are turning to ClearScore to help manage their finances. As the cost-of-living crisis deepens, ClearScore has a critical role to play in assisting people to make smarter financial decisions. We are very excited to come to Canada at this time and bring our data-driven marketplace to a very dynamic and fast-moving credit market. Having already established extensive partnerships with major banks and credit card providers, we anticipate a growth rate very similar to what we have seen in the UK, South Africa and Australia.
Toronto Mayor John Tory, said I am very pleased that ClearScore has chosen to locate its new office in our city, which will allow them to take advantage of our unmatched talent pipeline. A strong technology sector, resilient financial system and quality pool of talent puts the Toronto Region on the global fintech map and I'm thrilled to welcome ClearScore to be a part of this dynamic ecosystem.
One of the first companies to partner with ClearScore in Canada is Capital One Canada.
Kevin Chan, Acquisitions Marketing Lead for Capital One Canada, said: Capital One Canada believes that with the right resources, tools and support, financial wellbeing is possible for everyone, regardless of where they are on their journey. Working with partners that have similar values, such as ClearScore, allows us to further extend that support and level the playing field when it comes to credit.
ClearScore launched in July 2015 to help everyone, no matter their circumstances, achieve greater financial wellbeing. This started with greater transparency in credit reports and scores and has since expanded to include increased visibility of affordability, using current account spending patterns via Open Banking. As a leading financial marketplace, ClearScore helps people access, and save money on, credit cards, loans and car finance. ClearScore has grown rapidly to serve 17 million users across the UK, South Africa, Australia and Canada. The Group now partners with over 150 financial institutions around the world to ensure that the right product, gets to the right user at the right time.