Final authorisations signals a major milestone for Cardeo, enabling data-powered debt management and permission to lend
The fintech can save a typical customer around £90 per year, and with 14.5 million credit card customers in the UK, millions of pounds could be saved every year
- Cardeo, the AI-powered credit card management app, has received full regulatory approval from the Financial Conduct Authority (FCA) ahead of the app’s full launch.
- The expanded range of authorisations will enable Cardeo to advise customers on the cheapest way to repay their credit card borrowing based on their open banking data, as well as being able to offer eligible customers revolving credit at a lower rate than their cards.
- Cardeo continues to spearhead calls on Government to enforce consumers’ right to receive their full account data from banks and credit card companies.
- Cardeo co-founder and Chief Executive, Gavin Shuker, says: “The authorisations is a monumental step forward in the company’s continued development and the impact they will make in the market. Shuker said: “Getting our final full authorisations is a massive milestone for Cardeo, and sets us up brilliantly for our full launch later in the year. We’re now able to fully power up the Cardeo app and properly disrupt the credit card market with our innovative money saving technology, offering a lifeline to the millions of underserved consumers who have been left exposed to a lack of competition, and the cost of living crisis.”
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