UK-based payments network Zilch has launched Zilch Up, a new product designed to help people typically excluded from traditional credit in the U.K. access affordable credit and build credit history.
“For too long, millions of people in the U.K. have had to struggle with limited or no access to credit due to thin and weak files,” says Philip Belamant, CEO and co-founder of Zilch.
“We want to change this status quo by democratising access to interest-free and affordable credit, advancing the lives of millions of families and individuals in managing and planning their day-to-day financial health,” adds Belamant.
According to Belamant, recent testing shows that Zilch Up has the capabilities to help over 25,000 credit-invisible people become visible to credit reference agencies in the U.K.