Provides a collateralized virtual credit card that requires no credit application or scoring, leveraging AI/ML technology to offer secure, accessible financial services. Designed for individuals with low or no credit history, it enables credit building through a £10 minimum deposit, transparent fees, and integrated buy-now-pay-later (BNPL) options, promoting responsible financial management without predatory lending practices.
Funding
Funding not disclosed
Founders
Product
Problem
Many individuals, particularly those with limited or no credit history, face challenges in accessing traditional credit cards due to stringent credit checks and scoring systems. This lack of access can hinder their ability to build credit and participate fully in the financial system. Predatory lending practices and hidden fees further exacerbate these challenges.
Solution
Zorrz offers the BlueAccess card, a collateralized virtual credit card designed to provide accessible financial services without requiring a credit application or impacting credit scores. Powered by AI/ML technology, the card enables users to build or enhance their credit through a minimum £10 deposit. The integrated buy-now-pay-later (BNPL) functionality provides additional flexibility in managing finances. Zorrz aims to promote responsible financial management through transparent fees and educational resources, offering an alternative to traditional unsecured credit models.
Target Audience
The primary target audience includes individuals with limited or no credit history, those seeking to build or rebuild their credit score, and those who prefer transparent and ethical financial products.
Features
- Credit check-free access, ideal for individuals with no or low credit history
- Secured lending with a low minimum deposit of £10
- Integrated buy-now-pay-later (BNPL) option for installment payments
- Contactless payment functionality for convenient transactions
- Mobile app with budgeting, expense tracking, and goal-setting tools
- Multi-lingual customer support
- 24/7 customer service
- Competitive APR on open balances
- Transparent fee structure with no hidden costs