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News

Nova Credit and Creditinfo join forces

Thursday 18 January 2024 11:49 CET | News

Nova Credit has collaborated with Creditinfo to help Ukrainians gain access to the necessary financial services needed to rebuild their lives abroad. 

Per the press release, the partnership is powered by Nova Credit’s Credit Passport, a cross-border credit solution enabling newcomers to access their foreign credit history when applying for financial products in a new home country.  

Bridging this critical data gap, Nova Credit and Creditinfo are set to provide Ukrainian expats and refugees with the tools needed to get started on the right financial footing upon arrival.

Nova Credit has collaborated with Creditinfo to help Ukrainians gain access to the necessary financial services needed to rebuild their lives abroad.

As many people will seek permanent residency in these new countries, a lack of credit history could introduce a barrier to securing financial services. Very commonly, newcomers have struggled to carry over their financial identity and credit history, posing a dual challenge for those seeking to rebuild their lives and lenders aiming to extend financial services to this incoming population. 

According to the press release, with this partnership, credit data from the International Bureau of Credit Histories (IBCH) Ukraine can be instantly translated into a local-equivalent credit report and score so that lenders who use the Credit Passport solution can assess the credit risk of new-to-country Ukrainian applicants. Nova Credit’s partners using the Credit Passport today include American Express, HSBC, Scotiabank, Verizon, and UNFCU. 

The Credit Passport Ukraine data integration is available for deployment into any credit risk or underwriting process across the US, the UK, Canada, UAE, and Singapore. 

About Nova Credit

Nova Credit is a credit analytics company that seeks to enable businesses to grow responsibly by harnessing alternative credit data. The company leverages its unique set of data sources, bank-grade infrastructure and compliance framework, and proprietary credit expertise to help lenders fill the gaps that exist in traditional credit analytics.  

Nova Credit serves as the bridge between data and credit excellence, providing a suite of solutions designed to give lenders across various industries - including finance, fintech, property management, telecom, and automotive - a competitive edge in the open finance era. Its cross-border credit product, Credit Passport, cash flow underwriting product, Cash Atlas®, and income verification product, Verification of Income, are used by various international organisations. The company is backed by investors including Canapi Ventures, Kleiner Perkins, General Catalyst, and Index Ventures as well as executives from Goldman Sachs, JP Morgan, and Citi. 

About Creditinfo 

Based in the UK, Creditinfo is a provider of credit information and risk management solutions worldwide. The company facilitates access to finance, through intelligent information, software, and decision analytics solutions. With more than 30 credit bureaus, Creditinfo has a global presence in this field of credit risk management. It has provided business information, risk management, and credit bureau solutions to lenders, governments, and central banks globally to increase financial inclusion and generate economic growth by allowing credit access for SMEs and individuals.

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Keywords: partnership, credit access, risk management, financial services, cross-border payments
Categories: Payments & Commerce
Companies: Creditinfo
Countries: Ukraine
This article is part of category

Payments & Commerce

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Creditinfo

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