CreditGo has announced the launch of Hong Kong's first platform focused on providing consumers with free access to their credit scores and reports.
The free web-based platform offers personalized credit score management and monitoring, and can also help consumers quickly identify any suspicious activity on their accounts.
Full personal credit reports are retrieved directly from TransUnion through an API, and consumers can use the service any number of times.
CreditGo, a subsidiary of Asian financial management platform provider CompareAsiaGroup, has been established to address the need to raise awareness in Hong Kong about the importance of credit score.
A survey conducted for CompareAsiaGroup by CSG found that while 97% of respondents have heard of a credit score,a round half have a very limited understanding of the concept and how it may influence their lives.
Only around half know the score's impact on interest rates and even fewer know its impact on employment. Over 70% would consider obtaining their credit scores and reports in the future.
“At this juncture when data security is so important to all of us personally, we want to help people in Hong Kong identify new credit activity, be informed of changes in personal data and identify fraudulent activity to ensure that people can take control of their financial destiny,” CreditGo GM Steven Di Vincenzo said.
"Frequent access to credit reports and scores will help people take control of their credit and financial health. The survey shows the importance of educating consumers on the importance of their credit health and with CreditGo people have access to educational resources and planning tools.”