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Dispute AIâ„¢ Revolutionizes DIY Credit Repair with Advanced AI Technology
AI-Powered Credit Repair Software Helps Consumers Restore Credit Scores CHEYENNE, Wyo., Oct. 16, 2024 /PRNewswire/ -- Credknowledgy Inc., a leading provider of AI-driven financial tools, is excited to announce the continued success of its innovative software, Dispute AIâ„¢, designed to help consumers repair their credit scores effortlessly and affordably. Over the past two years, Dispute AIâ„¢ has empowered thousands of users to address credit inaccuracies without the high costs associated with traditional credit repair services. Dispute AIâ„¢ leverages artificial intelligence to analyze credit reports from all three major credit bureaus, identify errors, and automate the process of filing disputes. The software has gained popularity as an affordable DIY Credit Repair solution, available for a fraction of what most credit repair companies charge. Users can now take control of their financial future with minimal effort and maximum results. Performance Data Highlights: Average Credit Score Increase: Users have reported an average credit score increase of 35 points within the first three months of using Dispute AI. Dispute Success Rate: Over 75% of users have successfully removed negative items from their credit reports. User Growth: Since its launch, Dispute AI has seen a 60% increase in active users, with over 15,000 new accounts in 2023 alone. "We're incredibly proud of the difference Dispute AIâ„¢ is making in people's lives," said Maurice A. Shabazz, CEO of Credknowledgy Inc. and founder of Dispute AIâ„¢. "Our goal has always been to provide a powerful and affordable solution for those seeking to improve their credit scores. With AI, we've made the credit repair process faster, more accurate, and accessible." The software's ease of use and effectiveness have positioned it as a leading AI Credit Repair tool. By automating key parts of the dispute process, Dispute AIâ„¢ eliminates the need for costly credit repair services and puts control back in the hands of consumers. About Credknowledgy, Inc. Credknowledgy, Inc. is a cutting-edge software company specializing in financial technology solutions that leverage artificial intelligence to improve credit health. Founded in 2021, the company is committed to empowering individuals through technology, making it easier for them to achieve financial freedom. Dispute AI is its flagship product, designed to provide an efficient, affordable, and user-friendly alternative to traditional credit repair services. Website: https://disputeaipro.com This press release was issued through 24-7PressRelease.com. For further information, visit http://www.24-7pressrelease.com. View original content to download multimedia:https://www.prnewswire.com/news-releases/dispute-ai-revolutionizes-diy-credit-repair-with-advanced-ai-technology-302277150.html SOURCE Credknowledgy, Inc. Market News and Data brought to you by Benzinga APIs
Benzinga
Wed, 16 Oct, 12:06 PM UTC
Credit Sesame Unveils Cutting-Edge AI Platform in SaaS to Revolutionize Credit Management
Sesame, the embedded finance credit intelligence platform, empowers businesses to unlock new growth while delighting and engaging their customers SAN FRANCISCO, Oct. 24, 2024 /PRNewswire/ -- Credit Sesame, a pioneer in consumer-focused financial technology, today announced the launch of its groundbreaking credit intelligence platform, Sesame for businesses. With a focus on delivering innovative credit solutions, Sesame redefines the credit management category and empowers businesses to offer an unprecedented credit intelligence and experience for customers. Building on over a decade of credit expertise with a proven track record of serving 18 million customers and AI models trained with over 7 trillion data points, the platform provides a full stack, end-to-end solution with personalized credit analysis, real-time financial insights, and access to an offer engine to tailor credit offers. These features are integrated seamlessly into the platform's award-winning experience, the first of its kind in the market. With six patents in credit technology, this transformative platform sets a new standard in credit management, and enables enterprises to deliver credit in context for a superior credit experience that meets the evolving demands of consumers and today's market. Focus on Driving Consumer Success The Sesame platform enables consumers to improve their credit health by providing personalized, actionable recommendations that help raise credit scores, lower borrowing costs, and enhance financial stability. With better credit, consumers gain access to more favorable loan terms, lower interest rates, and a wider range of financial products, which can significantly reduce the cost of borrowing and open new financial opportunities. Sesame Platform Key Features: Unlocking New Opportunities for Businesses Sesame empowers businesses to offer personalized credit and financial wellness solutions "out-of-the-box" with full customization capabilities. With the ability to integrate seamlessly into existing systems, businesses can launch customized credit management solutions quickly and efficiently, driving growth while deepening customer relationships. Instant, Personalized Credit Insights: Advanced AI technology delivers actionable credit analysis - praised by customers and reflected in industry-leading ratings - and recommendations, empowering consumers to improve their credit scores and make informed credit decisions in the context of their credit well-being.Customizable Offers Engine: Provides credit offers in context by connecting their financial products with the consumers' credit profiles or sourcing from a broad marketplace of products.Scaleable, White-Label Integration: Businesses can seamlessly integrate the Sesame platform's features into their existing systems, allowing for complete customization and branding and making it easy to launch personalized credit solutions quickly and efficiently. "Consumers deserve a smooth and personalized experience when managing their credit," said Adrian Nazari, CEO of Credit Sesame. "The Sesame platform leverages our years of experience combining the power of data, analytics, and AI to deliver credit in context, exactly when and where customers need it. This is the kind of tailored, intelligent experience that consumers expect from their financial partners in the modern era. This is a game-changer for financial institutions, unlocking new growth opportunities while enhancing customer satisfaction, retention, and engagement." A Defining Moment for the Industry The launch comes at a pivotal moment, as the financial services industry anticipates a new cycle of declining interest rates following historic rate hikes. This shift is expected to trigger a surge in refinancing and credit transactions over the next few years. With the Sesame platform, financial institutions can position themselves to capitalize on this trend by offering innovative credit solutions that meet the rising demand for consumer-friendly credit management. The Shift is Already Underway A significant financial enterprise customer, serving tens of millions of customers, has already adopted the Sesame platform, with interest among other leading enterprises growing. The upcoming public announcement of his major partnership underscores the platform's robustness and growing demand in the market. About Credit Sesame Credit Sesame is a leading financial wellness platform dedicated to helping consumers achieve better financial health through cutting-edge technology and data-driven solutions. With a decade of credit expertise and a proven track record of serving over 18 million users, Credit Sesame leverages AI and advanced analytics to empower individuals to improve their credit scores, enhance approval odds, and reduce credit costs. The recently launched Sesame Platform extends this mission by providing financial institutions with a turnkey AI-powered credit intelligence solution. It enables businesses to offer personalized credit and financial wellness experiences, driving deeper customer engagement and growth. Backed by leading institutional and strategic investors, Credit Sesame operates across the U.S. For more information, visit www.creditsesame.com and follow on Instagram, Facebook, X, and LinkedIn. Kara De Los Reyes 9085783594 385387@email4pr.com View original content to download multimedia:https://www.prnewswire.com/news-releases/credit-sesame-unveils-cutting-edge-ai-platform-in-saas-to-revolutionize-credit-management-302286067.html SOURCE Credit Sesame Market News and Data brought to you by Benzinga APIs
Benzinga
Thu, 24 Oct, 4:03 PM UTC
SavvyMoney Debuts Personalized Loan Offer Automation Tool
Credit score solutions company SavvyMoney has debuted an offer automation tool for financial institutions (FIs). The offering, dubbed "Get My Rate," is the first personalized offer automation tool created specifically for FIs, the company said in a news release Monday (July 22). "Unlike other conventional, single-stop pre-qualification solutions in the market, Get My Rate allows users to get pre-qualified for multiple offers simultaneously and receive ongoing alerts when rates change in their favor," the release said. In addition, users get continuous credit monitoring and a comprehensive set of financial wellness tools, helping them improve their financial profile over time, which can in turn lead to better loan opportunities and cost savings. The tool also lets FIs identify and market personalized offers to consumers, SavvyMoney said. "Get My Rate also seamlessly integrates consumers into the FI's marketing efforts, ensuring that as their credit profile improves over time or as rates improve, they are presented with pre-qualified loan options featuring the latest rates in line with their credit qualifications," the company added. PYMNTS examined the roles personalization and customization play in credit union loan offerings last year in an interview with Denise Stevens, senior vice president and chief product and digital officer at PSCU, now known as Velera. She said that these two factors are vital to offering the right credit products to members, making it possible to greenlight loans that might be rejected by traditional banks. "When you look beyond the traditional ways used in this industry to approve consumers, credit unions really can get creative in that area, and they usually do," Stevens said. "[Credit unions] need to be very focused on the innovation side of lending to ensure they have a large reach." Meanwhile, PYMNTS spoke earlier this year with Michael Haney, head of product strategy at Galileo Financial Technologies, who said AI will usher in a new age in which financial services organizations use data to provide hyper-personalized experiences. Generative AI can improve loan decisioning and other interactions, supporting loan lifecycle management from applications to credit collections, he told PYMNTS. "In more commercial settings, AI is already helping treasury managers within the various banks examine cash flow and interest rate changes and navigate liquidity risk," that report said. "Hyper-personalization will be a natural by-product of AI," Haney said, while also warning that models must be examined to safeguard against bias.
PYMNTS.com
Mon, 22 Jul, 8:02 PM UTC
Credit Karma unveils updated AI tools to help you better understand your finances
Imagine having a financial advisor, immersed in your financial data, ready to answer your money questions at any hour. That's Credit Karma's goal with its new and improved AI assistant. Since its launch in 2007, Credit Karma has aimed to help people make sense of their finances by providing them with key insights, resources, and more. On Wednesday, Credit Karma unveiled an updated version of Intuit Assist, a generative AI financial assistant initially launched in private beta last fall. The AI assistant, available to all Credit Karma users on the app, can now assist with a wider range of topics, including personal finances. Also: 6 ways to save money on TV streaming without losing the shows you love Like any other chatbot, you can chat conversationally with Intuit Assist to get answers to your financial questions. However, the difference between Intuit Assist and any other AI chatbot capable of providing financial advice is that it is grounded in your data. "We want AI to really understand, so we're trying to give AI a sense, not just of what your data is, but who you are and what probably matters to you right now so it has a good way to talk to you," said Ryan Graciano, Credit Karma's Chief Product Officer and Co-Founder. Intuit Assist can answer questions regarding your finances using the information you have linked to your Credit Karma profile, such as personal spending, debt, net worth, and more. Users can ask Intuit Assist for anything from financial advice to general finance questions, such as what a term means, to specifics about their financial health, with the chatbot acting like a 24/7 financial advisor. I had the opportunity to demo the product, and my favorite feature was the chatbot's insights on spending habits. Also: You can trade in old electronics for Amazon gift cards. Here's how it works During the demo, Graciano asked Intuit Assist to learn more about his spending habits last month. The chatbot provided a complete breakdown accompanied by a colorful graph visualizing the spending, as seen below, all within seconds. "We built some pretty cool technology that can then take that AI response and visualize it, and the AI actually decides what visualization to show, which is also pretty neat," said Graciano. Users can then use those insights to inform their future financial decisions, such as adjusting spending habits, budgeting, or deciding which credit card to open to maximize rewards. If they need advice on acting on those insights, users can ask Intuit Assist further questions. Other instances of AI on the app include the "Your Insights," "Ask Intuit Assist," and "FAQs" sections, which leverage AI to show you the information that it deems most helpful and pertinent to you. For example, under "Your insights," you will see trends based on your financial data, such as your connected accounts, credit score, and profile. "If you consider what you would want a financial assistant to do for you, you wouldn't want to call them [human, financial advisor] every day and ask them what I should pay attention to today," said Graciano. "You actually want them to reach out to you and say, these are the things you pay attention to, so that's kind of the idea." The FAQs section displays frequently asked questions from Credit Karma members, which users can then click on to prompt a conversation with Intuit Assist to explore the topic further. Similarly, the "Ask Intuit Assist" section displays what Credit Karma calls "top-of-mind questions" across different financial topics, which users can also click on to learn more about. Lastly, the new "shop intelligently" AI-powered credit card shopping experience provides users with personalized and contextualized explanations regarding which card best fits them, using their debt and financial health as factors when recommending a card. "If you're interested in, you know, one card or another, Credit Karma is also really good at this because we have a much more transparent approval than many of our competitors," said Graciano. "I always like to draw an analogy to shopping for pretty much anything else on the internet -- it's really weird to go anywhere and see a list of products and not know if you can get them -- and so our site really strives to make it as transparent as possible." Also: I changed these 5 TV settings to lower my electric bill. Here's why they work To help users navigate the card shopping experience, embedded questions and commands allow them to educate themselves further on the card options. A sample command would be, "Help me compare travel card offers," which, when tapped, would prompt an AI-generated response. Naturally, you may be apprehensive about letting AI access your financial data. However, Graciano said security was at the top of their minds. "Security is in our DNA," said Graciano. "Secure by design has been one of our principles for as long as I've been here; it has been everything we have done; everything we do is always security first." Another widespread concern regarding generative AI models is their credibility, as they are prone to hallucinations. So, how much can you trust the advice Intuit Assist gives? Graciano shares that although the technology is imperfect, it is well-informed on Intuit data and content, allowing it to perform with impressive accuracy. "It is true that the nature of the technology is not perfect; to be frank, though, traditional software technology is also not perfect," said Graciano. "What's really imperfect is going and reading 1000 articles online, digesting them, trying to understand what they mean, and then making decisions." Also: Want to save your old computer? Try these 5 Linux distributions "We have a huge advantage in that Intuit has a lot of data and a lot of content, and with our content, we can really hone it in on what makes sense -- so it's very unlikely to tell you something really wild and out there." I have been a Credit Karma user since I was looking into opening my first credit card in my freshman year of college and have found the platform genuinely helpful in understanding my finances. When I was briefed on these tools, as a user, I became genuinely excited about what they have to offer as they seem like they will elevate the user experience and provide insights that I could benefit from learning myself. However, I am curious to see how it will handle the challenges above, and I will put it to the test myself to find out. If you, too, want to access these new features, you need only create a free Credit Karma account and download the app, which is free and available on the Apple App Store and Google Play Store.
ZDNet
Wed, 24 Jul, 2:07 PM UTC
Scaling global financial inclusion through automated credit scoring
Credit scoring is a critical aspect of the lending process, determining whether a borrower is eligible for a loan and under what terms. Traditionally, this process has been labor-intensive and prone to errors, often relying on subjective criteria that vary from one lender to another. However, artificial intelligence has introduced a transformative shift in conducting credit scoring. Automated credit scoring offers a more accurate, efficient, and inclusive approach to assessing creditworthiness. We explore how AI-driven automated credit scoring works, its benefits, and how it reshapes the financial landscape in this article. Automated credit scoring uses AI and machine learning algorithms to evaluate borrowers' creditworthiness. Unlike traditional credit scoring methods, which primarily rely on historical credit data, automated systems analyze many data points, including non-traditional data sources such as social media activity, transaction history, and even mobile phone usage patterns. This comprehensive approach allows lenders to make more informed decisions based on a fuller picture of a borrower's financial behavior. The cornerstone of AI-based credit scoring is its ability to process vast amounts of data from multiple sources. Traditional credit scoring models typically depend on a limited data set, such as credit history and outstanding debts. In contrast, AI-powered systems can analyze additional data points, including employment history, spending habits, and even behavioral data from social media. This broader data set enables a more accurate assessment of a borrower's loan repayment ability. Machine Learning models are at the heart of automated credit scoring. These models are trained on extensive datasets to identify patterns and correlations that may not be apparent through traditional analysis. By continuously learning from new data, these models can adapt to changes in the economic environment and borrower behavior, leading to more reliable credit scores. AI-driven credit scoring systems excel in predictive analytics, enabling lenders to forecast a borrower's future financial behavior accurately. By evaluating patterns and trends in the data, these systems can predict the likelihood of a borrower defaulting on a loan, allowing lenders to adjust their risk assessments accordingly. Traditional methods often miss critical nuances in a borrower's financial situation, leading to overly conservative or generous credit assessments. AI systems, on the other hand, can evaluate a broader range of factors, resulting in more precise credit scores. This method dramatically reduces the time required to evaluate a loan application. What once took days or even weeks can now be accomplished in minutes, impressing the audience with the efficiency and speed of the process and leaving them satisfied with the improved customer experience. Traditional credit scoring methods can be influenced by human biases, leading to unfair assessments, particularly for individuals with limited credit histories. AI-powered systems are designed to minimize these biases by relying on objective data rather than subjective judgment, leading to fairer and more equitable lending practices and instilling a sense of reassurance and confidence in the system. Automated credit scoring systems are also highly effective at detecting fraudulent activities. By analyzing data patterns and identifying anomalies, these systems can flag suspicious behavior that might indicate fraud, thereby protecting lenders and borrowers. By incorporating alternative data sources, automated credit scoring can provide credit scores for individuals with little or no credit history, such as recent immigrants or young adults. This means that those who were previously excluded from financial services can now access credit, opening up new opportunities for them. AI-driven credit scoring is not just about individuals-it also has significant benefits for small businesses. By analyzing data points such as business cash flow, payment history, and market conditions, AI systems can provide a more accurate assessment of a small business's creditworthiness. This means that small businesses can now obtain the funding they need to grow, leveling the playing field in the business world. Despite its advantages, AI-based credit scoring is not without its challenges. One of the primary concerns is transparency. AI models, often called "black boxes," can make it difficult for borrowers to understand how their credit score was determined. This lack of transparency can lead to a lack of trust in the system. Another challenge is data privacy. The extensive data collection required for AI-based credit scoring raises concerns about how personal information is stored, used, and shared. Lenders must ensure that they have robust data protection measures to safeguard borrower information. By leveraging AI and machine learning, automated credit scoring enhances the accuracy and efficiency of credit assessments and promotes financial inclusion on a global scale. As the financial industry evolves, AI-driven solutions will likely become the standard in credit scoring, offering fairer and more inclusive opportunities for individuals and businesses. As the financial industry continues to evolve, it's clear that AI-driven solutions are the future of credit scoring. By leveraging AI and machine learning, automated credit scoring enhances the accuracy and efficiency of credit assessments and promotes financial inclusion on a global scale. This shift to AI-driven solutions will offer fairer and more inclusive opportunities for individuals and businesses alike, marking a new era in the financial industry.
Dataconomy
Wed, 4 Sept, 8:31 AM UTC
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