Through this partnership, Incredible and Monevo aim to provide customers with tools to manage and reduce their credit card debts. Incredible is a UK-based fintech company specialising in automatic credit repayment solutions, addressing the growing demand for a simplified repayment process among customers.
Incredible’s platform comes with solutions, offering credit card management by consolidating multiple debts into a simple monthly payment. By using Open Banking and artificial intelligence, Incredible delivers personalised financial strategies tailored to individual needs.
Monevo is an embedded lending platform that connects 150 global financial institutions, fintech, and affiliate partners to provide a centralised technology and decision-making infrastructure that integrates lenders and publishers. The platform enables these parts to deliver solutions for customers seeking online credit. Additionally, consumers can see their likelihood of being approved for credit products before applying, which saves time and reduces unnecessary searches that can negatively impact their credit scores.
By working together, Incredible and Monevo want to improve the process of payment by eliminating the process of credit checks, lengthy applications, and gimmicks intended to increase credit scores. This option not only reduces costs but also provides a clearer overview of customers’ financial situations.
Repayment methods are an important component of credit management, as they directly impact a customer's financial stability, credit score, and long-term borrowing potential. Without a structured repayment plan, customers face the risk of missed payments, incurring fees, and high-interest debt.
In this context, fintech companies present a possible solution. Using Open Banking and data-driven insights, modern platforms offered by fintech providers can analyse individual profiles and recommend tailored strategies to accelerate debt clearance. This is achievable without the traditional credit checks and lengthy application processes.
Moreover, fintech providers are now offering flexible products and solutions that include repayment options based on cash flow, real-time financial data, and faster access to capital, allowing loans to be processed in minutes or hours. Customers and SME owners can benefit from repayments based on their cash flow analysis, upcoming income, and spending behaviour.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now