Coaching with ClearScore: a behind the scenes look at our new feature
ClearScore has launched a brand new feature, Coaching – personalised plans to help everyone take control of their finances. Justin Basini, CEO and co-founder, tells us about the journey from idea to complete product.
After months of planning and hard work from the team, ClearScore have launched Coaching — a series of free, interactive plans to help people improve their credit score, report and overall financial health. After answering a few questions about yourself using our chat bot technology, you’ll get a tailored and easy to follow To-do list. It’s a short and focused programme designed to help everyone work towards their larger financial goals.
We caught up with Justin Basini, ClearScore’s CEO and co-founder, to find out more about the project.
What was the inspiration behind Coaching?
Managing money is all about good habits. In this sense money is very much like getting fit: you need to change your unhealthy habits and adopt healthy ones. The ability to adopt the right habits is based on having the knowledge and understanding of what to do when: it’s all about creating action.
Coaches and fitness experts are a proven way to help you improve your fitness and change your habits. I’ve invested a lot of my personal time and energy in getting fit over the past few years, and I was inspired to use these coaching approaches to help ClearScore’s users improve their financial fitness.
What makes Coaching so different from everything that’s already out there?
Most knowledge in financial services is delivered in a very dry, unengaging way - PDFs, long boring articles and huge amounts of small print.
We wanted to use natural, open, even fun, conversation to help our users learn about money, credit scores and reports, and finances in general. We invented a chat bot which users can talk with about their finances and attitudes to money.
At the end of the process we provide a personalised set of actions to carry out which will help to improve your finances.
What’s your process for developing these new ideas?
It’s half inspiration and half perspiration. Many of us at ClearScore obsess about finances, money and our mission to help people achieve greater financial wellbeing. Lots of ideas come out of this.
We also follow technology trends very closely, looking for technology we can either use or invent, to achieve our mission to help our users. Then we work hard to develop prototypes, test them and create features we think people will love.
What was the biggest challenge you’ve faced getting Coaching up and running?
Coaching was a real challenge. Creating the chat bot, the content and the action lists, all required complex and detailed work from across the ClearScore team. A lot of research went into this, including working with The Money Charity to make sure our Coaching plans were giving our users the best guidance.
With something so new, refining and optimising the experience with our test users was a learning curve.
What’s next for Coaching?
We are already working on other coaching plans for our users. We are really excited by the opportunity this new platform gives us to interact with users, provide sensible and accessible information, and change people’s behaviour.
Like adopting any new habit, it takes time, repetition and focus, but Coaching is a great way to continue our journey to providing greater financial wellbeing.
To try our new plans, go to our Coaching homepage or simply log in to your ClearScore account to give it a go.