Cloud-native core banking engine SaaScada has announced its partnership with UK-based fintech ZORRZ . As part of the partnership, SaaScada will reportedly leverage its data-driven core banking engine to provide ZORRZ with real-time transactional data and a credit card ledger.

The resulting transparency is anticipated to enable ZORRZ’s BlueAccess Card customers to get insights regarding their spending habits. ZORRZ's BlueAccess Card is a collateralised credit card product designed to offer financial inclusion to those excluded from mainstream lending as a result of their limited or adverse credit histories. More details about the BlueAccess Card According to the official press release, the BlueAccess Card does not have monthly fees or high interest rates on outstanding balances compared to typical credit builder products.

What is more, as long as the customer passes ZORRZ’s KYC/AML and fraud checks, the issuing process reportedly does not involve a traditional application or hard credit check. As officials explain, this aims to ensure that the consumers it targets, who are already vulnerable, will not experience further credit score deterioration or rejection due to their credit history. The ZORRZ BlueAccess Card provides consumers with flexible repayment options such as standard credit or Buy Noy, Pay Later (BNPL).

Moreover, customers have access to artificial intelligence (AI) tools that simplify complex terms and conditions. These resources are anticipated to help them better manage their finances and help them build their credit standing. The ZORRZ BlueAccess Card is expected to be launched later in 2024 and will be valid wherever Mastercard is accepted.

SaaScada and ZORRZ’s strategies and previous developments SaaScada is a data-driven core banking engine developed by leveraging cloud-native technology. Its unified product hub enables the building of products to deliver great customer outcomes via open APIs to the partner ecosystem. Earlier in 2024, it was announced that SaaScada was selected by The Payment Firm to power its new payment services for SMEs and individuals.

Zorrz is a fintech that aims to offer access to credit through secured financial products. Its flagship offering, the BlueAccess credit card, extends instant access to secured lending, thus enabling consumers to build or rebuild credit. In January 2024, ZORRZ partnered with identity verification provider IDnow to augment customer onboarding for its credit solution, the BlueAccess Card.

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