CRED Launches Svalbard: AI-based Credit Management and Predictive Scoring Tools
Svalbard provides a unified dashboard that shows total dues across multiple cards, real-time monitoring of credit utilization, and anomaly detection to prevent errors.
Fintech startup CRED has unveiled 'Svalbard,' a comprehensive suite of tools aimed at helping creditworthy members better manage their financial profiles.
Svalbard includes innovative features like:
Foresight: A predictive analytics tool that forecasts the impact of financial decisions on credit scores.
Compass: A personalized tool that creates actionable plans for achieving target credit scores.
Aurora: A visually dynamic display that tracks and visualizes credit progress through a custom typeface.
For credit card management, Svalbard provides a unified dashboard that shows total dues across multiple cards, real-time monitoring of credit utilization, and anomaly detection to prevent errors.
The platform also tracks over 10 million unbilled transactions daily, offering real-time insights into spending patterns.
It includes CRED Protect’s anomaly detection system, which scans transactions and statements for hidden charges, unexpected fees, and unusual activities—ensuring users avoid costly financial missteps.
CRED recently reported a 66% increase in revenue to ₹2,473 crore in FY24, driven by higher product adoption and the growth of monetized users. The company also successfully reduced its operational loss by 41%, bringing it down to ₹609 crore.
