UK-based digital bank Starling has partnered with credit score platform CreditLadder.
The leading digital bank has partnered with London-based CreditLadder to enable its customers to use their monthly rental payments to help build their credit history.
CreditLadder’s tech is designed to prove to lenders and credit reference agencies that renters can pay their rent both reliably and on time, allowing access to better rates on a range of financial products including mortgages.
Launched in 2016, and a member of the government-backed Tech Nation initiative, it recently won approval from the Financial Conduct Authority to grow its suite of services.
Last year, it was awarded £600,000 from HM Treasury to help develop its tech, business development and product.
The integration with Starling, which makes use of open banking, allows Starling customers to use the service directly through Starling’s app.
The bank already provides access to pension provider PensionBee, digital investing services Wealthsimple and Wealthify, mortgage broker Habito, insurance provider Churchill Insurance and loyalty partner Flux.
“Our Marketplace is designed to help customers make the most of their finances,” said Anne Boden, Founder and CEO of Starling Bank.
“CreditLadder shares this vision and is giving people a much-needed advantage in today’s tough property and credit climate.”
Sheraz Dar CEO of CreditLadder.co.uk, added: “Being added to Starling Bank’s Marketplace is a major milestone for us and a huge opportunity to help Starling Bank’s customers improve their credit position for free, should they wish to do so.
“We want to see every tenant in the UK report their rent and see the benefits it can bring – this is a great step in realising that ambition.”