Do you know Good Credit? This is a new player allowing you to compare the rates charged by banking organizations. Union loan went to meet them. Interview with Julien Lecron, founder
Why did you launch this comparator in a particularly competitive environment?
After analyzing the existing offer
I found that most of the comparators did not give access to the actual credit rate and that their ranking was rather qualitative. I spent more than 10 years in the credit business, either at Finaref or Sofinco and I can tell you that in the end, for the customer it’s very simple, he expects 2 things from a credit:
- that his loan is accepted
- pay the lowest possible price: get the best rate
So I created Good Credit which is the only comparator to meet these two objectives: to obtain the ranking of the best rates and to obtain an answer of principle of the organisms for these best rates.
I know that Good Credit offers the best offer, there is more than to let everyone know.
What promise do you make to your visitors?
At Good Credit we compare the rates transparently. They are therefore sure to find what is best in the online credit market. For those who wonder why we do not have the banks in our comparison, it’s simple. Banks are not able to properly assess the risk when they do not already know the customer for a long time. And when they know you, they charge attractive rates if you are a good customer.
The service we would offer would therefore be promotional, which is contrary to our values.
But if you think that your bank can make you a good rate, then prepare your negotiation: Get the best rate on the web thanks to Good Credit and put this proposal under the nose of your banker. If it’s better for everyone else, otherwise it’s that you already have the best deal in your hands and ask questions about your banker … Moreover for the disappointed in search of cheap bankers, we come to launch Good Savings!
What is your business model?
It is very simple, the net surfers who look for a cheap credit deposits an application on our site. We seek for them the organization that is ready to accept them at the best rate. For this service, everything is free for the customer. We are paid by the cheapest credit agency which is very happy to be offered a customer interested in its rate. And we encourage them to continue to offer low rates if they want to continue sending them customers.
What are your relationships with credit agencies?
We must not hide our face, we are very small next to them but I think we will gain increasing importance. For having been on the other side of the barrier, credit agencies are developing more and more their know-how in terms of customer risk assessment and face enormous regulatory constraints. They can not be on all fronts. So I think that in terms of customer relationship, they will increasingly need agile partners who bring a particular service to the customer, at Good Credit, it is the lowest rate.
It’s a virtuous circle, the more the credit organizations control their risk, the lower they can offer, the lower the rates they offer, the more we bring them customers, and the more we bring low rates to our customers the more they are satisfied.