Chip Launches WealthScore: a Revolutionary Tool to Help Users Grow Their Wealth

Chip, the award-winning financial app*, has unveiled WealthScore, an innovative feature designed to empower users to better understand and enhance their wealth-building habits. Launching today, WealthScore marks a bold step towards redefining how individuals track their financial journeys and achieve their financial goals.

WealthScore is an industry-first metric, crafted to deliver personalised insights into users’ financial habits. Unlike traditional credit scores, which often focus on limitations or financial missteps, WealthScore is designed to celebrate progress, educate users, and inspire positive action. By analyzing over 50 metrics and millions of data points, the feature provides a daily-updated, algorithm-driven score to help users make smarter financial decisions.

“Our mission at Chip has always been to build wealth for our generation, by helping people grow, invest and use their money to live richer, more fulfilling lives,” said Alex, Chip’s Co-founder and CMO. “WealthScore embodies that mission by demystifying financial growth and empowering our users to take charge of their futures. It’s about celebrating what you’re doing right, not just highlighting areas for improvement.”

WealthScore evaluates factors like portfolio diversification, consistent savings habits, and use of tax-efficient financial products to give users a holistic view of their financial wellness. The goal? To help individuals spend less time guessing “what’s next” and more time confidently building wealth.

Key Features of WealthScore Include:

• Daily Updates: A dynamic score that evolves with your financial actions.
• Actionable Insights: Personalised tips and reminders tailored to help users make informed decisions.
• Transparency: WealthScore is unique to Chip and does not impact or connect with credit scores.
• Focus on Empowerment: Designed to be motivating and celebratory, rather than daunting.
• Free feature: Wealthscore is available to all Chip users at no cost.

WealthScore is just the beginning. With future iterations already in development, the app aims to make wealth management accessible and engaging for everyone, from seasoned investors to first-time savers.