Branded as the Score Credit Mastercard by DND, it is aimed at personal users and business owners with a less-than-perfect credit record including entrepreneurs and students. The card is also Shariah-compliant. DND believes its card will be a key way for users to get their credit records back-on-track, echoing sentiments articulated by Railsr which advocates the democratisation of finance.

DND uses the Railsr platform for its UK Banking-as-a-Service, licensing and card services. It chose Railsr as the issuer, because it did not want to manage every single part of the implementation process, including linking to key partner platforms and getting a Bank Identification Number (BIN).

DND has created the card based on the knowledge that a good credit record is built when people develop a history of paying bills on time, such as credit cards, lines of credit and loans. With the Score Mastercard, a user decides what limit is best for them, transfers a security deposit to DND, starts using their card for everyday expenses and consistently pays their bills on time. That payment history is reported to the UK credit agencies and their credit improves.

DND traditionally works with SMEs and entrepreneurial companies in the UK and Canada that are typically ignored by larger lenders. It provides vendor financing programmes to manufacturers and works closely with small-ticket brokers of equipment finance. It also provides loans to professionals, from physicians to accountants and architects.

Louisa Murray, SVP, Global Head of Enterprise Customers and Partners of Railsr, said: “We are very excited to be working with the team at DND. Its approach of helping companies and individuals navigate the tricky world of finance aligns very much with our core principles of how the wider financial services sector is there to serve as many people as possible. We look forward to working with them over the coming years.”

Rev Dr K Bill Dost, co-founder and Group CEO of the DND, added: “Our services provide a way for underfunded entrepreneurs to finance their dreams - to open a new business or continue the business they have when they need funding. It is great to team up with Railsr, a platform that could offer us the whole package and take away the pain of introducing our product.”

“Our purpose with the Score Card is to offer attainable access to a better life for everyone. This is because a bad credit rating used to mean one would not be able to access affordable credit products; today it means that you cannot move into your ideal neighbourhood or your children cannot attend the right school. A good credit rating is the difference between a life of lack and a life of privilege and we choose to offer that life of privilege to anyone that desires it.”