Consumers struggling to build wealth or constantly applying for loans need to first understand their complete financial profile. More than just a credit report.
LOS ANGELES, CA, USA, November 18, 2021 /EINPresswire.com/ — Credique, a global financial technology platform with both Credit and Identity Protection services, today announced the launch of its new personal finance tool, PFM Verify.
In September 2021, US consumer debt numbers showed an increase of 8.3% annually to now more than $4.37 trillion, which is a quarterly record according to the Board of Governors of the Federal Reserve System. Now more than ever consumers need better financial tools to help them spend or save money regardless of their current financial status.
PFM Verify (Personal Finance Management), aims to provide consumers with a simplistic financial tool for what most consumers would complain is a complex problem; better management of their finances. Most financial tools that exist today only provide high level education without straightforward tools to guide consumers on how to specifically improve their situation. With PFM Verify, you get a detailed analysis of your individual financial profile including Net Worth, Debt-to-Income Ratio, and a proprietary PFM Score along with simple tools to create a personal yet achievable action plan.
Unlike a traditional Credit Score, which you can get directly from Experian, Equifax, TransUnion or even from your bank; a PFM Score considers factors not usually addressed. This includes things like your income, cash reserves, spending habits and other information fundamental to your financial health. Consumers who get declined for loans and credit cards or are only offered those financial products with high interest rates are often misled that it's solely related to their Credit Score or Credit Report history. The fact is lenders and other financial institutions have always underwritten based on much more than just your Credit Score, yet very few services have been accessible to consumers that clearly educate them on these additional factors.
PFM Verify features include:
-Financial Snapshot of all your financial accounts. Review your payment history, liquidity ratio, savings ratio etc.
-Robust Budgeting Tool. Create budgets, manage your spending habits, build your Net Worth and more.
-Automated Spend Tracking. Automatically detects subscriptions, monthly costs, the yearly total for each subscription, and will notify the individual of any increase or decrease in monthly costs.
-Personal Financial Guidance. A daily feed tailored to each individual's financial wellness at their fingertips. Insight cards provide real-time information about a customer's finances, serving up the insights that matter most to them.
-PFM Score. Credit only makes up part of each consumer's true financial score in the eyes of a loan underwriter. See the other half of the picture and learn ways to improve it.
-Credit Score and Credit Insights: Although already easily accessible through other services, we make it convenient to learn about Credit, how you can improve it and if necessary dispute errors or negative items on your Credit Report.
To sign up for PFM Verify visit: https://www.pfmverify.com
A global fintech company with a foundation of expertise in consumer credit and financial data across the globe. We use proprietary technology to deliver life changing financial products to consumers in a relevant way. This award-winning experience has led to hundreds of thousands of individuals taking a step forward to creating a better financial future. Our mission is to give people the right financial tools to first learn then take action toward putting themselves in a better situation. A good financial profile equals more access to credit which leads to a first home, better home or simply getting approved for your first credit card.
Source: EIN Presswire