Credit Sesame Gives Consumers Control Over Credit and Debt

SUNNYVALE, Calif., Sept. 28 /PRNewswire/ -- Credit Sesame (www.creditsesame.com), a free online tool that helps people take control of their credit and save money with smarter loans, launches in beta today at TechCrunch Disrupt. Credit Sesame founders spent years developing the analytics that banks use to make their lending decisions – and are now using that knowledge to help people make better choices about their own credit and debt. Using technology and analytics previously only available to big banks, Credit Sesame creates 5,000 scenarios to find the best-suited loans for each user and lets people apply directly for those loans online. Credit Sesame finds that the average homeowner can save up to $600 each month by simply optimizing their current loans.

"Banks invest millions of dollars in technology each year to make lending decisions that are best for them," said Adrian Nazari, CEO and founder of Credit Sesame. "We've leveled the playing field by creating technology that lets you save the most money for you. Credit Sesame puts bank-level analytics in your hands. In just minutes, our tool evaluates your current financial situation and identifies ways to save you money now and in the future."

Credit Sesame uses complex analytics that lets users figure out all possible scenarios to best understand, optimize and manage their credit and debt. Unique to Credit Sesame, the technology looks at a person's entire debt portfolio holistically – evaluating how your loans are doing by themselves, and how they could be working better together. Consumers explain what they want to do with their money, and whether it's to make a big purchase or refinance a mortgage, Credit Sesame finds the best pre-qualified loans for their needs.

Optimize for a Better Future

Credit Sesame's easy to use website only takes a couple of minutes to register for and gives a lifetime of benefits. Consumers get a complete picture of their debt and credit in a way they can use and understand. Users learn what is good and bad about their situation, and receive unbiased advice on how to improve their financial picture instantly with pre-qualified, objective and forward looking options online.    

• Easy as 1-2-3: Users set up a Credit Sesame profile and give permission to build their free credit portfolio
• The big picture: Users get a comprehensive overview of their credit worthiness and current debt picture
• Money in your pocket: Credit Sesame analyzes thousands of loans, across all the major banks, to find the three best-matching, pre-qualified options and lets users apply for them instantly online
• Key financial goals: Set additional goals and Credit Sesame gives a recommendation for the best loans you can get – whether you want to refinance your mortgage, buy a new home, borrow money or pay down debt
• "What if" calculator: If you want to explore different credit and debt scenarios, Credit Sesame's calculator answers questions about potential savings or loans for when your financial situation changes
• Open sesame: Once registered, Credit Sesame tracks your financial profile on an ongoing basis, and alerts you when something changes in your profile, when the market changes or when a new bank product becomes available. Monthly reports eliminate your worry about monitoring credit and debt
• Security is a priority: Credit Sesame is even safer than online banking – using the same security technology and encryption methods as banks and financial institutions

"The average American spends 40 percent of their monthly income on paying off debt and loans," said Nazari. "While other personal finance services are devoted to managing consumers' overall cash flow, Credit Sesame's technology is dedicated to optimizing credit and debt – the largest chunk of that cash flow. We see our tool as the missing piece of the online personal finance puzzle."

For more information on Credit Sesame, please visit www.creditsesame.com. To learn more about TechCrunch Disrupt, and the criteria used to determine finalists, visit http://disrupt.techcrunch.com.

About Credit Sesame

Credit Sesame is a free online tool that helps consumers take control of their credit and save money with smarter loans using the same complex technology the banks use. Launched in September 2010, Credit Sesame's founders and scientists from Stanford University and UC Berkley developed the patent-pending algorithm that analyzes 5,000 scenarios per user to uncover best-suited financial advice. As the first company to aggregate consumer, product and market intelligence all in one place, Credit Sesame gives consumers access to the technology tools formerly available only to banks. Credit Sesame's innovation lies in its patent-pending analytics platform and insider knowledge of the banking industry, empowering users with easy-to-use tools to take control of finances with smarter loans. From first login, Credit Sesame finds that the average homeowner can save up to $600 each month by simply optimizing their loans. For more information on Credit Sesame's free online tool, please visit www.creditsesame.com and on Facebook at www.facebook.com/creditsesame. You can also follow Credit Sesame on Twitter: www.twitter.com/creditsesame.

About TechCrunch Disrupt

TechCrunch Disrupt San Francisco (http://disrupt.techcrunch.com), is being held Sept 27-29 2010, at the San Francisco Design Center Concourse http://www.sfvenues.com/concourse/overview.html . TechCrunch Disrupt attracts over 1,500 leading technology innovators and investors and over 150 new startups.  The format combines top thought-leader discussions with new product and company launches.  Morning executive discussions debate the most timely disruptions in media, advertising and technology.  Afternoons host the Startup Battlefield where 25 new companies will launch for the first time on stage, selected to present from more than 500 applications received from around the world.  Another 100 early-stage startups will exhibit in Startup Alley.  TechCrunch will award a $50,000 grand prize along with other award recognitions at the conclusion of the conference.

TechCrunch (www.techcrunch.com) is a leading technology media network, dedicated to obsessively profiling and reviewing new Internet products and companies. Founded in 2005, TechCrunch and its network of websites reach over 8 million unique visitors and more than 25 million page views per month. TechCrunch operates a global network of websites including dedicated properties in Europe and Japan as well as specialized industry websites including MobileCrunch, CrunchGear, and TechCrunchIT. TechCrunch's CrunchBase, is the leading, open database about start-up companies, people and investors. In addition to Disrupt, TechCrunch hosts other conferences and events, including The Crunchies Awards and various meet-ups worldwide serving as community platforms for industry conversation and collaboration.

SOURCE Credit Sesame