SaaScada has announced its partnership with ZORRZ, to power ZORRZ’s BlueAccess Card. This collateralised credit card solution aims to disrupt the traditional credit industry and bring financial empowerment to millions who have been excluded from mainstream lending due to limited or adverse credit histories.

The ZORRZ BlueAccess platform does not have any monthly fees or extortionate interest rates on outstanding balances. Moreover, the instant issuing process does not involve a traditional application or hard credit check, as long as the customer passes the ZORRZ’s KYC/AML and fraud checks. This approach ensures that vulnerable consumers are not subjected to further credit score deterioration or rejected outright due to their credit history.

Priyesh V. Mistry, Managing Director at ZORRZ, said: “The current credit system is antiquated and has unfairly excluded millions from accessing mainstream financial services. We believe everyone deserves seamless access to credit, regardless of their traditional credit scores. By leveraging our collateralised model, we can provide a responsible, risk-managed solution that empowers those who have been shut out, without relying on arbitrary credit scores or making high-risk unsecured lending decisions.”

The ZORRZ BlueAccess Card empowers users with flexible repayment options, including the choice of standard credit or Buy Now, Pay Later instalments at the point of purchase.

SaaScada’s data-driven core banking engine is crucial to this mission, providing ZORRZ with real-time transactional data and a robust credit card ledger

This transparency enables customers to gain valuable insights into their spending habits, make informed financial decisions, and avoid the risks of overspending or double-spending.

Nelson Wootton, CEO and Co-Founder of SaaScada, added: “We are thrilled to partner with ZORRZ as they revolutionise the credit industry and bring much-needed change to the lives of underserved communities. Our cloud-native architecture and API-driven approach empower ZORRZ to build a truly unique ecosystem of best-in-class partners, delivering a tailored and impactful solution that fosters financial inclusivity.”

Reference by: https://finance.yahoo.com/news/saascada-powers-zorrz-fintech-solution-105616526.html