A Chat with Michael Vanaselja, Co-Founder and CEO at Personalised Credit Card Company: Keebo

Keebo is the new challenger credit card that helps people unlock the power of credit and build the lives they dream of. Keebo helps improve access to credit and enables customers build their credit over time through personalised tips and insights.

We’re launching in beta with Mastercard. We are focused on tackling financial exclusion by providing better and fairer access to credit. We do this through our unique use of behavioural underwriting which looks into a customer’s broader financial behaviour – including spending habits, savings, and investments – to create a more accurate picture of the customer’s creditworthiness.

Keebo is the only regulated credit card company for open banking based underwriting and this groundbreaking approach opens up the opportunity for underserved customers to access better credit.

Many responsible people are being denied credit because they don’t fit into the ‘correct’ credit box. This particularly affects the growing passion economy of freelancers, innovators and creators. Through the use of open banking technology, Keebo is able to break this ‘black box’ of credit and focus on providing underserved customers such as those with limited credit history or irregular income with fairer and better access to credit.

Since the world of work has changed, many individuals have struggled with the out-of-touch traditional credit models. We are working with big industry players like Mastercard, Experian, Gocardless and Yolt to bring Keebo to new users, particularly those who are part of the “passion economy.” Often young, with limited credit history and irregular income, these consumers are excluded from traditional forms of credit as their lifestyles and careers do not fit with the existing models of creditworthiness. For these modern entrepreneurs and creatives, Keebo unlocks the power of credit so they can build their dreams, smash their goals and create their future.

How did you come up with the idea for the company?

I spent various aspects of my career looking at credit risk from a capital market standpoint. The idea for Keebo was originally inspired from an FCA report I read about the credit card industry and how a lot of young people were lacking access to credit. This lack of access posed a big societal and industry problem and so Matt – my CTO – and I, thought clearly this is a big problem for a lot of young people.

The more we investigated the problem, we realised that the lenders had little to no reliable data to make a lending decision, which explained why so many people who were applying for credit for the first time, were being denied it.

This exact issue explains why open banking can be such a powerful tool. We are able to take a look at people’s spending patterns, accounts and behaviours and make an informed decision on that basis.


What can we hope to see from Keebo in the future?

Keebo will be building a personalised credit future – giving people insight into how every action and transaction they make on their Keebo card, help them to build their credit.

Traditionally, people’s relationship with credit can be a real source of stress and anxiety. But by operating on an open and transparent basis with its users, Keebo will build trust so its users can build a better and more positive relationship with credit.