Starling has announced it’s partnering with the UK’s largest rent recognition platform; CreditLadder. The partnership means the UK challenger bank can help thousands of their customers improve their credit score and get on to the property ladder.
Through CreditLadder, Starling customer will now be able to use their monthly rental payments to help build their credit history.
Customer who use CreditLadder’s services could get access to better rates on a range of financial products – like mortgages, loans, credit cards and mobile phones. The platform proves information to lenders and credit reference agencies, showing that customers can pay their rent both reliably and on time.
Following the partnership, CreditLadder is integrated into the Starling app. Starling customers to use the service directly through Starling’s Marketplace feature. The service means faster and more convenient access to the benefits CreditLadder’s services, without ever needing to leave the Starling app.
In February 2018, Starling Bank launched its in-app marketplace, the bank allows its customers to harness Open Banking, offering direct securely access to a range of financial services and products on their phone.
CreditLadder will be joining a number of partnerships Starling already has. The startup has partnerships with pension provider PensionBee, digital investing services Wealthsimple and Wealthify, mortgage broker Habito, insurance provider Churchill Insurance, loyalty partner Flux and recently, FreeAgent.
Anne Boden, Founder and CEO of Starling Bank, said: “Our Marketplace is designed to help customers make the most of their finances. CreditLadder shares this vision and is giving people a much-needed advantage in today’s tough property and credit climate.”
Sheraz Dar CEO of CreditLadder.co.uk, said: “Being added to Starling Bank’s Marketplace is a major milestone for us and a huge opportunity to help Starling Bank’s customers improve their credit position for free, should they wish to do so.
“We want to see every tenant in the UK report their rent and see the benefits it can bring – this is a great step in realising that ambition.”
