Mifundo and Yapily have partnered to combine Open Banking and credit bureau data for cross-border consumer credit assessment in Europe.
According to the official press release, Europe has an estimated 45 million mobile Europeans and a cross-border consumer lending market valued at around EUR 719 billion, according to the companies. Despite this scale, consumer credit information remains fragmented across countries and data sources. A consumer may hold years of credit history in one country, bank accounts in another, and apply for credit in a third, making it difficult for an assessing bank to build a complete financial picture.
Mifundo's platform brings together financial information from credit bureaus and Open Banking providers across multiple European countries into a single standardised cross-border credit report. Verified credit data is sourced through Mifundo's network of credit bureaus and registers, while Open Banking providers supply consented bank account information.
Under the partnership, Mifundo will access enriched and categorised consented bank account data through Yapily's Data Plus product, combining it with verified credit data from relevant European markets. This allows lenders to receive different sources of financial information in one standardised report rather than collecting and interpreting them separately.
Kaido Saar, founder and chief executive officer of Mifundo, said cross-border credit assessment requires more than one type of financial data, noting that credit bureau data reflects how a customer has managed credit over time, while Open Banking data adds insight into their current financial position.
Furthermore, Irene Brime, director of sales EMEA in commercial at Yapily, said the company's Data Plus product delivers bank account information that is already categorised and enriched, rather than a raw feed requiring further interpretation, and that this complements credit bureau information for lenders assessing customers with cross-border financial histories.
Regulatory context
Mifundo works with Open Banking partners based on their strengths and coverage in specific markets. According to the companies, Yapily's infrastructure and coverage across several European markets, including SME and corporate accounts, informed its role in Mifundo's wider Open Banking network.
The partnership comes as the revised Consumer Credit Directive (CCD2) enters into force across the EU from 20 November 2026. Article 6 of the directive introduces a non-discrimination principle for access to consumer credit, including on the basis of a consumer's place of residence.
Through the process of linking verified credit information across European markets with Open Banking data from partners such as Yapily, Mifundo is positioning its platform to support more portable and usable credit histories for consumers moving between EU countries.
