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The ‘Unicorn Card' Offers New-To-Banking Customers a Trustworthy Experience

12/11/20

Fintech startup Cred.ai has launched a new banking platform aimed to provide a transparent banking experience to consumers

“You’re better than your bank,” the cred.ai site advertises in huge letters next to an animated unicorn. The company promises that, with their AI-card, dubbed the “Unicorn Card”, consumers can avoid overspending while building credit automatically.

The card aims to make banking simpler and clearer with user-friendly mobile banking tools, fee-free service, tools to manage merchants' permissions, and self-destructing Stealth Cards for transactions that cardholders aren't so sure about.

According to CNBC, the card uses its AI-enabled credit optimizer tool to manage users' debt-to-credit ratio to build up their credit scores. Forbes adds that cred.ai's system was designed by attorneys, journalists, an astrophysicist,  a 3D animator, and twenty engineers. 

The company also offers a comprehensive brand experience with its content arm, crednews. “Why would a fintech make documentaries about UBI and psilocybin?” the site asks. “Because we can.” While the Unicorn Card still in beta, consumers can apply for access at the site.

PSFK's researchers featured the Unicorn Card as just one of the ways that tech companies are simplifying financial growth planning for new consumer audiences. To learn more, head to our research paper, Democratizing Financial Services for a New Consumer Demographic.