Mifundo, a fintech developing a pan-European cross-border credit data platform, has partnered with the SOLUS credit-information register, operated by Společnost pro informační databáze (SID).
This collaboration integrates Czech credit data into Mifundo’s unified framework, improving cross-border credit assessments across Europe.
Millions of Europeans relocate each year for employment, education, or family reasons. Despite this mobility, financial histories often remain confined within national credit systems. Banks and lenders evaluating applicants with credit histories in multiple countries face significant challenges: verification processes are slow, data is incomplete, and risk models frequently struggle to assess cross-border financial profiles. Integrating verified data from multiple jurisdictions allows financial institutions to make more accurate and consistent lending decisions.
Through the partnership, Mifundo’s platform will incorporate information from the SOLUS database, one of the largest registries of individuals with overdue debt in the Czech Republic. Data will also include entries from public registers of debt enforcement proceedings and insolvencies. By combining this information with Mifundo’s existing European dataset, banks can access a comprehensive view of applicants’ credit histories across multiple countries. All data inquiries require explicit consumer consent and are accessible only through secure online requests, ensuring compliance with privacy regulations.
Improving credit decision-making with data insights
The SOLUS database currently aggregates information from approximately 50 companies spanning various sectors, including banks, non-bank financial institutions, telecommunications, energy distribution, and P2P lending platforms. These data points provide lenders with detailed insights into repayment behaviour, outstanding obligations, and risk exposure. For example, incorporating Czech insolvency data allows financial institutions to better assess potential default risks, while information from telecommunications and utility providers adds context to recurring payment patterns.
Integrating these data sources supports Mifundo’s mission to reduce cross-border lending risk and improve access to credit for mobile Europeans. By leveraging information from SOLUS, the platform enables faster, fairer, and more consistent lending decisions, fostering an interconnected European credit market. The collaboration also strengthens the European financial ecosystem by connecting local credit registers with international data frameworks, benefiting both lenders and consumers.
