Making It Free: How Karamvir Singh Helped Make Automated Credit Repair Available To Anyone Who Needs It

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For decades, credit repair has been a manual and expensive process. The fintech startup Dovly recently launched Dovly Free, the first no-cost automated credit repair offering, ensuring that anyone needing help with credit now has access to a proven technology. We caught up with Karamvir Singh, Dovly’s Director of Engineering.

What is Dovly doing to help people with their credit?

Millions of people have inaccurate data on their credit reports. These errors can weigh down their credit scores, blocking access to critical products and services. Before Dovly, there was no easy and affordable way for consumers to get their reports cleaned up. Now they have an intelligent technology to solve this serious problem with minimal effort.

What do you mean when you call it “intelligent”?

Dovly is a fully automated platform. A member can enroll day or night from any device. The system soft pulls credit and shows the member exactly what’s hurting his or her scores. All the member has to do is click anything that looks wrong or unfair. From there our algorithm takes over, creating a personalized repair program for the individual. It communicates electronically with the credit bureaus in a way that gets the best, fastest results.

How were you able to build such a sophisticated solution?

I’ve been coding since I was a kid, but I honed my skills with an undergraduate degree at SUSCET and then advanced training at The Centre for Development of Advanced Computing in India. I’ve been a professional developer since 2009, working in India and then in Australia. I’ve known Dovly co-founder Tedis Baboumian for much of that time, initially helping him on various development projects for his family business. Through our collaboration, I was able to transform Ted’s consumer credit expertise into innovative software products. Together with Dovly co-founder Nirit Rubenstein, we started talking about an automated credit repair solution as early as 2017. The three of us put together a prototype, and the next year Dovly was founded. We had an MVP ready in 2018, and that summer Dovly went live through our partnership with Chime, the market leading fintech bank.

How were you able to make it free to consumers?

Our automation enables us to offer exceptionally low cost service. Dovly’s paid plans are a fraction of what consumers pay traditional credit repair companies. That said, with so many people struggling during the pandemic, even these low prices remained out of reach for many who needed our help. Dovly Free is available at no cost because it provides a basic level of service that helps people get started improving their credit. It has all the smarts of the paid plans even though it takes a little longer to work. As people start to see the benefits of Dovly Free, we’re betting that enough of them will be able to afford stepping up to a paid plan to allow us to recoup our costs — especially because we’re giving them a money back guarantee.

Where do you hope to go from here?

We’ve always believed that credit repair is just a first step. We’re working now to infuse the Dovly platform with features that teach people how to build good credit habits. Soon we’ll be using artificial intelligence to generate personalized recommendations — actionable advice to show members how to get ahead financially. It’s a great feeling to be building something that is helping people improve their lives.