Nova Credit and Creditinfo: Bridge Cross-Border Credit for Ukrainians – FinTech Futures

Nova Credit, a cross-border and alternative credit analytics company, has partnered with Creditinfo, a global service provider for credit information and risk management solutions, to help Ukrainians gain access to financial services as they rebuild their lives abroad. Nova Credit’s Credit Passport solution allows newcomers to access their foreign credit history when applying for financial products in their new home country. The partnership will provide Ukrainian expats and refugees with the necessary tools to establish their financial footing upon arrival. The collaboration will translate credit data from the International Bureau of Credit Histories (IBCH) Ukraine into a local-equivalent credit report and score. This will allow lenders to assess the credit risk of new-to-country Ukrainian applicants. Since the start of the Russia-Ukraine War, a combined 840,000 Ukrainians have moved to the US, UK, and Canada, and this number is expected to grow. However, a lack of credit history presents a challenge for new arrivals and lenders who need credit data to provide financial services to this population. The Credit Passport Ukraine data integration is available for deployment across the US, UK, Canada, UAE, and Singapore. Nova Credit’s partners using the Credit Passport solution include American Express, HSBC, Scotiabank, Verizon, and UNFCU.