Online Platform Improves Consumer Financial Behaviour, A Q&A with the Founder and CEO of RevolutionCredit, Zaydoon Munir
Tell us about RevolutionCredit and your role.
RevolutionCredit transforms the credit decision process for both lenders and consumers by creating a unique platform for creditors and consumers to engage and a database of unique consumer economic behaviour data. I am the Founder and Chief Executive Officer at RevolutionCredit.
You will be leading a technical workshop and demonstrating the online platform that aims to improve financial behaviour – can you share with us how our Summit participants will be able to use this platform in their local communities to help consumers?
The ExtraCredit solution that we built at RevolutionCredit helps consumers learn and develop critical money management skills and capabilities. We accomplish this by delivering byte-sized, gamified financial education modules at the point of transaction to do two things: 1) to extract creditworthiness behavioral signals related to intent and aptitude, and 2) to enhance consumers financial skills and capabilities.
Over the last 2 years, we have proven that consumers who complete our programmes have better credit risk than those with similar profiles but did not choose to complete any of our programmes. In so doing, we not only transformed how financial education is delivered but we created a new way to help consumers build credit profiles instantly.
Summit participants can use our technology to scale their efforts in delivering much-needed financial capability programmes - in a scalable, consistent and fun manner. Lenders and Financial Services providers of all kind can use our technology to improve loan decisions by identifying "aspiring and upwardly mobile consumers” - consumers who will perform better than what traditional scoring methodologies would indicate. At the same time, they can help consumers build their first credit profile so they can enter the financial mainstream if and when they are ready
What are you looking forward to most at the Citi-FT Financial Education Summit?
As an accidental Financial Educator/Financial Capability Champion, I am excited to learn what others are doing, what is working, and best practices. Most importantly, I am looking forward to finding ways to partner with local organisations around the globe to quickly, efficiently and cost-effectively localise our platform to use our innovation to better serve consumers.
Tell us about RevolutionCredit and your role.
RevolutionCredit transforms the credit decision process for both lenders and consumers by creating a unique platform for creditors and consumers to engage and a database of unique consumer economic behaviour data. I am the Founder and Chief Executive Officer at RevolutionCredit.
You will be leading a technical workshop and demonstrating the online platform that aims to improve financial behaviour – can you share with us how our Summit participants will be able to use this platform in their local communities to help consumers?
The ExtraCredit solution that we built at RevolutionCredit helps consumers learn and develop critical money management skills and capabilities. We accomplish this by delivering byte-sized, gamified financial education modules at the point of transaction to do two things: 1) to extract creditworthiness behavioral signals related to intent and aptitude, and 2) to enhance consumers financial skills and capabilities.
Over the last 2 years, we have proven that consumers who complete our programmes have better credit risk than those with similar profiles but did not choose to complete any of our programmes. In so doing, we not only transformed how financial education is delivered but we created a new way to help consumers build credit profiles instantly.
Summit participants can use our technology to scale their efforts in delivering much-needed financial capability programmes - in a scalable, consistent and fun manner. Lenders and Financial Services providers of all kind can use our technology to improve loan decisions by identifying "aspiring and upwardly mobile consumers” - consumers who will perform better than what traditional scoring methodologies would indicate. At the same time, they can help consumers build their first credit profile so they can enter the financial mainstream if and when they are ready
What are you looking forward to most at the Citi-FT Financial Education Summit?
As an accidental Financial Educator/Financial Capability Champion, I am excited to learn what others are doing, what is working, and best practices. Most importantly, I am looking forward to finding ways to partner with local organisations around the globe to quickly, efficiently and cost-effectively localise our platform to use our innovation to better serve consumers.
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