The latest cash cow: CRED, an Indian fintech startup, has unleashed a new feature that will suck your financial data dry, all in the name of “helping” you manage your cash flow. Because what’s a little financial surveillance when you’re trying to make a buck?
CRED, the Bengaluru-based startup that’s made a killing off credit card bill payments and consumer lending, is now cashing in on the personal finance management racket. And with its new feature, CRED Money, it’s poised to rake in even more dough.
CRED Money is a masterclass in data harvesting, consolidating your financial data from all your bank accounts and tracking your transactions like a hawk. Want to know where your money’s going? CRED’s got you covered. Want to receive reminders about upcoming payments? CRED’s got you covered. And with its partnership with India’s account aggregator framework, CRED can access your financial data without so much as a by-your-leave.
But don’t worry, CRED assures us that it won’t be monetizing this feature. Yeah, right. We all know that’s just a load of hogwash. CRED’s just trying to get its hands on as much of your financial data as possible, and then sell it to the highest bidder.
And what’s the real motive behind CRED’s latest move? To turn your financial data into actionable insights, of course. Because nothing says “financial freedom” like having some algorithmic genius telling you where you’re screwing up and how you can fix it. And who knows? Maybe CRED will even offer you some “tailored” financial advice, all for a fee, naturally.
But hey, at least CRED’s being upfront about its intentions. “More money, more problems,” quipped CRED founder Kunal Shah. Yeah, no kidding. And now CRED’s just adding to the problem with its latest cash-grab.
CRED has positioned itself as a platform for rich, creditworthy consumers, but let’s be real – financial mismanagement is a problem that affects everyone, regardless of income level. And with CRED Money, the startup is just perpetuating the cycle of financial stress and anxiety.
So, will you be joining the ranks of CRED’s financial surveillance state? Or will you be opting out of this latest cash cow? The choice is yours, but either way, CRED’s just going to keep on raking it in.
Author: Kayitsi.com
