Fintech Wales Foundry Season 3 – Introducing Credit Canary
Get to know Credit Canary, one of the seven startups forming the cohort for Season 3 of the FinTech Wales Foundry.
What is Credit Canary’s story?
“Having felt the pain that millions go through when faced with missing a credit payment, we felt with the depth of data available; there must be a better way. We’re building a platform that flags borrowers facing financial distress to lenders, engaging them before these loans go wrong with personalised treatments to avoid needing collections.”
What is the problem your startup has spotted and is looking to solve?
“In response to the cost-of-living crisis, lenders are provisioning for record credit losses ($4.6tn); but demand for consumer credit is high as consumers look to stay afloat. Lenders are actively seeking solutions to ensure sustainability. For borrowers, credit default is highly damaging to their financial and mental health.”
Why did you decide to apply for an accelerator programme, and what do you hope/expect to get out of the Foundry?
“Wales has such rich financial services and fintech pedigree and is a community we want to be a part of. We look forward to working with genuinely inspirational companies, leading investors, and standout talent pools, proactively engaging them to help Credit Canary realise its mission of eradicating the pain of missed credit repayments, both for the lender and borrower, as fast as possible.”
Stay tuned on our socials for updates on Credit Canary’s journey throughout the Foundry Accelerator Programme.