Today, we are excited to introduce Cowrywise Savings Score (CSS). The SS is a performance indicator that gives you a unique financial identity based on how diligent you have been saving money on Cowrywise. The score is estimated by our proprietary scoring algorithm developed by the Cowrywise CEO, Razaq Ahmed, CFA.
The score, generated primarily from inputs such as savings records, withdrawals, savings success and failure, saving frequency and amount saved, is used to build a creditworthiness profile for you. This score ranges between a minimum of 10 and a maximum of 100. If you have registered on Cowrywise, you can view your current Saving Score on the dashboard.
Why should I care?
The Savings Score is a good self-assessment tool to measure how well you are doing in meeting your personal finance goals.
How can I improve my savings score?
While there is no single way to boost your savings score overnight, below are some actions that can improve your score over time:
- Have a consistent monthly savings contribution that will run for at least 6 months.
- Avoid failed saving attempts by funding your card before saving the due date or adjust your saving dates accordingly.
- Retry failed savings as soon as you can (possibly within 24 hours)
- Reduce the number of withdrawals you make
While failed savings due to technical issues will not affect your savings score, withdrawals and failed savings due to other non-technical reasons will reduce your score.
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I am still waiting for Cowrywise to be inclusive to Muslims so that we get profit instead of interest.
We currently get nothing if we don’t want interest.
Exactly!
Me too,I support this!
Precious Fortune blessed by this
Thank you keep it up
Fully Supported. Cowrywise needs to embrace full financial inclusion to go places. Excluding a major block of interested investors cum customers limits widespread acceptability of Cowrywise Service. Financial Inclusion is key for a Multi-Religious Society like ours. Moreover, the issue of avoiding interest and opting for profit is not exclusive to Muslims alone, it is also a goal for ethical investors irrespective of religious affiliation. Trust Cowrywise will do something concrete about this customer base request/requirement before another fintech competitor does.
Cowrywise is just so lovable ?
Nice and cool
I’m waiting for cowrywise to open my app
I love Cowrywise app so much. It has helped me meet most of my goals financially.
I recommend this app for everyone!!?