A financial data platform called Bloom Credit has won the 2026 FinTech Breakthrough Award for Banking Infrastructure Software of the Year, marking a significant shift in how creditworthiness is determined and who qualifies for affordable credit. The company's flagship product, Bloom+, transforms everyday checking accounts into credit-building tools by reporting recurring bill payments like rent, utilities, and phone bills to credit bureaus, allowing people to build credit history without taking on debt .

Why Are Banks Suddenly Interested in Credit-Building Features?

The answer lies in consumer demand and competitive pressure. A joint report from Cornerstone Advisors and Bloom Credit found that 6 in 10 consumers ages 21 to 44 rank credit-building as the most valuable checking account feature . Even more striking, 73% of respondents said they would open a new account to access credit-building capabilities, and 68% would switch their direct deposit to a bank offering this feature. For financial institutions facing intense competition and customer churn, these numbers represent a clear opportunity to deepen relationships and drive growth.

The early results speak for themselves. In just 18 months since its launch, Bloom+ has demonstrated measurable impact for both consumers and the financial institutions using it. On average, consumers see an immediate impact to their credit history and subsequent credit score, while partner banks experience an average 11% increase in deposits . Additionally, customers add approximately 4.6 additional monthly recurring bill payments to their checking accounts, increasing engagement with the platform.

How Does AI-Powered Financial Data Transform Credit Access?

Bloom Credit's infrastructure software works by tapping into financial data that traditional credit scoring models have historically ignored. The platform identifies and validates recurring payments from rent, telco, water, gas, and electric bills, then reports these payments to credit bureaus as creditlines. This approach reveals what the company calls "invisible prime" consumers, individuals with strong payment histories who were previously locked out of affordable credit because they lacked traditional credit accounts .

The technology addresses a fundamental problem in the financial system: millions of people have never borrowed money, so they have no credit history. Without a credit score, they cannot qualify for mortgages, auto loans, or credit cards at reasonable rates, even if they pay all their bills on time. By leveraging alternative financial data, Bloom+ creates a more complete picture of creditworthiness.

Steps to Implement Credit-Building Solutions in Your Bank

• Embed directly into checking accounts: Integrate credit-building capabilities as a native feature of primary banking products rather than offering it as a separate service, making it accessible to all account holders without friction.
• Validate alternative payment data: Partner with platforms that can securely access and verify recurring bill payments like utilities, rent, and telecommunications, ensuring data accuracy before reporting to credit bureaus.
• Report to credit bureaus in real time: Establish connections with major credit reporting agencies to ensure validated payments are reported promptly, allowing consumers to see immediate impact on their credit scores.
• Focus on financial inclusion: Target underserved populations who have strong payment histories but lack traditional credit accounts, positioning the feature as a competitive advantage in customer acquisition and retention.

Several credit unions have already adopted Bloom+ and are seeing the benefits firsthand. Early partners include Inspire Federal Credit Union, Navy Federal Credit Union, Suncoast Credit Union, InTouch Credit Union, Palisades Credit Union, and Pasadena Federal Credit Union . These institutions recognized that credit-building features address a genuine consumer need while simultaneously solving their own business challenges around customer acquisition and retention.

"We're honored to have been chosen for this award. Bloom+ benefits consumers by giving them an alternative way to gain access to affordable credit and it increases financial institutions' relevance and retention rates. But even more broadly, Bloom Credit's infrastructure software is in effect helping to modernize and redefine how creditworthiness is determined, which is revealing an entire population of 'invisible prime' consumers," said Christian Widhalm, CEO of Bloom Credit.

Christian Widhalm, CEO of Bloom Credit

The broader implications of this shift are significant. For decades, credit scoring has relied on a narrow set of data points: credit card balances, loan payments, and payment history. This approach systematically excluded millions of people who managed their finances responsibly but never borrowed money. By incorporating alternative financial data, Bloom+ and similar platforms are democratizing access to credit and creating opportunities for people previously considered "unbankable" by traditional standards.

The recognition from FinTech Breakthrough Awards reflects growing industry recognition that this approach works. Bloom Credit has also earned Finovate's Best of Show award in 2024, Tearsheet's Data Innovation Award in 2024, and recognition from Finovate for Excellence in Financial Inclusion in 2025 . These accolades suggest that the financial services industry is moving toward more inclusive credit assessment models powered by better data and technology.

For consumers, the practical benefit is straightforward: a faster path to building credit and accessing affordable financial products. For banks and credit unions, the benefit is equally clear: a competitive feature that attracts and retains customers while expanding their addressable market. As more financial institutions adopt similar solutions, the traditional credit score may gradually become less relevant, replaced by more comprehensive assessments of financial behavior based on real transaction data.