Credit Kudos’ Co-founder and CEO, Freddy Kelly: Transforming The Traditional Credit Scoring System

Credit Kudos’ co-founder and CEO, Freddy Kelly

We are a challenger credit reference agency, using Open Banking to transform the traditional credit scoring system.  Credit Kudos goes beyond traditional scoring, providing a comprehensive view of a borrower’s creditworthiness and affordability to help lenders make better lending decisions.

Our platform uses up-to-date bank transaction data to provide lenders across sectors – including motor finance, unsecured lending, mortgages and lettings – with rich analysis and insights to help them make more informed decisions. This allows them to increase acceptances, reduce defaults and improve the customer experience, helping build a more inclusive financial system for all.


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

I co-founded Credit Kudos in 2015 with the mission of providing fair credit for all, harnessing Open Banking to do so. The idea blossomed when I returned to the U.K from the states – having worked there as a software engineer for several years. My lack of recent credit history in the UK meant I was faced with a ‘thin’ credit file and I had access to fewer credit options as a result.

Having experienced the difficulties this caused first hand, I recognised an opportunity to transform an otherwise manual and slow process into a digital one that benefits those locked out of traditional financial services.

We have built a process, facilitated by Open Banking, that allows people to choose to share their own transaction data so that lenders are equipped with an up-to-date, comprehensive view of their financial situation.


Tell us about the recent partnership 

We are partnering with lettings software provider, Goodlord, to enable letting agents to better understand a tenant’s financial health. Using data and analysis provided through our Open Banking platform, letting agents will be equipped with rich insights that paint a detailed picture of someone’s overall creditworthiness.

In the current uncertain economic climate, many people are experiencing fluctuating incomes and our additional insights can prove useful throughout the renting process. Through our partnership, we are able to help even more people prove their financial health and, ultimately, find a new home. This will help make the renting process more secure, faster, and fairer.

What can we hope to see from Credit Kudos in the future?

We have come a long way in five years and we are now the trusted partner of more than 70 organisations including Goodlord, Mojo Mortgages, Serve & Protect Credit Union and Car Finance 247. As we continue to pursue our mission of fairer credit for all, we will work with these organisations, as well as new partners across a range of sectors, to transform the credit scoring process.

Now more than ever, people need to be able to access affordable credit to help them weather the financial challenges of the pandemic. We will continue to innovate and develop new tools and solutions that help our partners better assess borrowers’ creditworthiness, empowering them to make more informed decisions and deliver a fairer, more transparent system for borrowers.