Nova Credit has introduced an income and asset verification system for the affordable housing sector called Eligibility Compass. The new tool was designed to shorten the often-lengthy process of assessing whether a household meets programme requirements, a task that frequently involves extended exchanges with banks, employers and benefit administrators. The new system aggregates financial information from multiple sources and verifies it in real time within a single workflow.
Nova Credit officials noted that the company has handled a substantial volume of income checks for property managers in recent years and said that patterns observed in that work shaped the design of the new product. According to representatives from Nova Credit, affordable-housing teams regularly deal with complicated financial profiles and stringent compliance rules, which can slow down approvals and increase the risk of errors. They said the tool was created to streamline these checks while still meeting regulatory obligations.
Verification designed for affordable housing workflows
Eligibility Compass integrates bank-account links, payroll data and document uploads, enabling providers to assess wages, government benefits, retirement income, gig-work earnings and other assets without relying on paper statements. The system cross-references its data sources to flag mismatches that could affect an applicant’s status, such as income that was not initially disclosed.
The company emphasises that its experience operating as a Consumer Reporting Agency informed the compliance controls built into the system. The aim, according to Nova Credit representatives, is to reduce the investigative burden on leasing teams and case workers, who often work with large sets of documents to find missing information while also trying to move eligible households into accommodation.
Nova Credit states that the tool incorporates fraud-detection analytics capable of identifying omissions in uploaded materials by comparing them against connected data streams. Company officials said the intention is to provide housing providers with a clearer view of applicant finances without adding friction to the application process.
