Credit Sesame launches industry's first credit AI platform for interactive credit management

Open Finance
11/09/2023 News

Credit Sesame, a leading financial wellness app, today announces the launch of its new AI-Powered Platform and user experience to simplify credit management and empower financial well-being. The new Platform's interface, Sesame Ring, revolutionizes the way users view and interact with their credit–all for free. Powered by AI, this new interface makes it easier for everyone to see their credit in context, take control of their credit, make informed decisions, and follow an interactive game plan to stay on track. This announcement comes off the heels of Credit Sesame's launch of the all-new Sesame Credit Builder Banking.

Credit scores have been the gold standard for creditworthiness for decades, yet the traditional credit scoring methods have long been a source of confusion for consumers. Even with the proliferation of free credit scores, 4 in 10 Americans still have no idea how their credit score works and what action to take, making it challenging for many to know how to manage their credit effectively and efficiently. Credit Sesame is changing that today. The new platform has a patent pending innovative Sesame Ring, an interactive visualization of a consumer's credit in context. Users can now see their entire credit picture and possible actions in a new light at-a-glance.

The patent pending Sesame Ring provides a dynamic and visually organized view of important credit factors that make up the Sesame GradeTM and personalized action plans, helping them understand their overall credit health and how to reach their goals every login session. Additionally, the new platform incorporates AI capabilities that will enrich people's perception, sense of control, and understanding of their credit. Sesame AI leverages Credit Sesame's deep understanding of the credit models, market, credit providers, and its users. The AI models, trained on years of data and over 1.7 billion new daily data points, generate in excess of 5.4 billion recommendations each month. These recommendations encompass score simulations, user actions, likelihood of approval, and rankings of choices and options, equipping customers with insights and tailored action plans that give them unprecedented control over their credit journey.

"We are one of the pioneers of showing credit scores in a dial, which has been adopted by many other financial institutions, but that view has not changed in a decade. We are now pioneering the next generation credit dashboard leveraging AI and our vast data to fulfill our mission of giving everyone access to the best tools they need to understand and manage their credit effectively," said Adrian Nazari, Founder and Chief Executive Officer of Credit Sesame. "The Sesame Ring marks an integral step in the advancement of our AI platform. It transforms the complex topic of credit into something everyone can comprehend at a glance, empowering users to take charge of their credit and finances confidently."

In addition to Sesame Ring and Sesame AI, other new Platform Features Include:

• Sesame Grade: Users can now see how well they are doing overall and with respect to key aspects of their credit with grades at ease. The color-coded visualization of their credit in context provides a quick and simple assessment of their credit health, highlighting areas of strength and potential concerns.

• Personalized action plans: Delving deeper into each credit factor, Sesame Ring provides users with an interactive game plan. The plan offers clear, actionable steps for the user to achieve their credit goal and take charge of their financial future.

• Intelligent alerts: Sesame Ring's intelligent alert system keeps users informed about crucial credit-related updates, ensuring they stay on top of what matters most to their credit health and protect their score.

• AI-driven customer support: The new platform leverages AI assistance to help users with their issues and needs. Unlike many other free services that often require customers to navigate things on their own, this platform offers AI guided customer support.

Credit Sesame continues to lead the industry with regards to fostering financial well-being for all its users. By addressing the pain points of traditional credit scoring methods – confusion and lack of transparency – Credit Sesame seeks to transform and unveil the way consumers approach credit management. The latest platform enhancements empower users across all generations to better understand their credit scores and make informed decisions that lead to improved financial outcomes.

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