Curve Credit will allow Curve customers to pay off their credit card debt and to split transactions into instalments, flexibly and simply managed within Curve’s app. Curve’s unique position as an OTT banking platform with read/write access enables customers to make smart decisions based on their spending and credit habits across all their financial products, regardless of where they pay and to whom. Curve Credit will be an alternative to revolving credit and will feature the ability to make full, ad hoc, partial, and regular repayments from a variety of sources. Customers will have complete visibility of payment schedules and amounts outstanding. Although Curve Credit is still in its very early stages, Harrald has big plans for the new product and is preparing to apply for FCA approval.
“It’s my belief that, in time, Curve can rival Klarna, a company I admire greatly,” said Paul Harrald, Curve’s new Credit Lead. “Curve is uniquely positioned in the market as an Over-The-Top banking platform to offer consumers unrivalled simplicity in managing multiple payment and credit products. The launch of Curve Credit in 2020 will provide its customers with phenomenal control of their finances and the ultimate financial experience,” he added.
“Paul’s credit industry expertise is second to none,” said Shachar Bialick, Founder and CEO of Curve. “He has a remarkable track record for building and growing hugely successful credit products and it is a massive coup for Curve to have secured such a talent and be able to draw on his expertise as we look to enter the highly competitive credit market later this year,” he added.