GjeldsMonitor is an application that we launched in 2021.
The purpose of GjeldsMonitor app is to provide those who repay loans in Norway with a tool for much better management of their debt. To pay off debt faster, with better terms and conditions, and to give borrowers the control and opportunities that exist - right in their hands.
For example, we have observed over time that many are unaware of opportunities such as seeking refinancing to improve the terms of their repayment plan. Together with other observations this led us to see a need for better debt management, which motivated us to find a better solution.
We looked for a solution to the problem that would provide a full overview of debt and credit cards, which, together with tips from credit assistants, could increase awareness of loans and also help the user save monthly.
Furthermore, we will also use input from users and the best information to create the best and most comprehensive information on debt. To create the functionality in the app, we therefore retrieve information from Gjeldsregisteret.
And, of course, we listen to user feedback and needs and find new solutions as a result. An example of this is how we expanded the functionality of the app by offering an overview of debt history as a response to interest rate increases in Norway. This allows the user to easily compare their installment history over time.