Why: Credit History is localised.
When people move countries they have to leave their credit history behind in their previous country of residence, even though they have built a credit history.
When people move countries they have to leave their credit history behind in their previous country of residence, even though they have built a credit history.
There are around 6.5 million people who move within the OECD, of those 630,000 people come to the UK and are provided with a thin credit history.
In terms of laws of compounding interest, having a thin credit score can cause monetary loses to individuals when they move countries and want to borrow money.
On the financial institute side, there is lost opportunity for lending to creditworthy people.
We want to help you move over your credit history when moving countries so you get:
1. better interest rate,
2. better deposit rate for renting your new home,
3. hassle free in opening a mobile phone contract.
We believe credit history is like a CV and you should be rewarded for good history and behaviour.
We will concentrate on the UK market with a model and after the experience look at other markets.
