Articles from Nova Credit

Nova Credit, a leading credit infrastructure and analytics company, today announced an expansion of its multi-year relationship with SoFi, the one-stop shop for digital financial services. This expansion enables SoFi to access consumer-permissioned bank data and cash flow analytics through Nova Credit’s Cash Atlas™ solution, giving SoFi the ability to better serve its members.

Nova Credit, the credit infrastructure and analytics company, and Akoya, the 100% API-connected data access network, announced today a partnership to help lenders deploy cash flow and income analytics to improve credit decisioning.

Nova Credit, the credit infrastructure and analytics company that enables businesses to grow responsibly with alternative credit data, has today announced the appointment of Nichole Mustard, co-founder and former Chief Revenue Officer of Credit Karma, to its board of directors.

Today, Nova Credit announced the inaugural Cash Flow Underwriting Summit, to be held in NYC on September 12, 2024, and has unveiled a packed agenda featuring the industry’s leading experts. The agenda will cover key considerations in the use of cash flow analytics in consumer lending. Nova Credit, the credit infrastructure and analytics company that enables businesses to grow responsibly by harnessing alternative credit data, has launched the Summit as a groundbreaking initiative to accelerate the understanding and adoption of this powerful and growing lending practice.

Today Nova Credit, a leading credit infrastructure and analytics company, unveiled the findings of its 2024 State of Alternative Data in Lending Survey Report, revealing that 90% of lenders feel that access to more alternative data - including non-traditional data sources such as bank transaction data, employment data, payroll and pay stub data, and utility data that are not included in traditional credit data and bureau reports - would help them approve more worthy borrowers. Adoption of alternative data in underwriting practices will enable lenders to expand financial opportunities for the more than 100 million adult Americans who are considered unscorable, invisible, or subprime.

Nova Credit, the leading credit infrastructure and analytics company, today announced the launch of the Nova Credit Platform, a unified integration to quickly onboard, orchestrate, and analyze consumer credit data from a range of alternative sources, all within a consumer reporting agency compliant framework. The Nova Credit Platform is a foundational layer designed for lending institutions to grow responsibly by streamlining onboarding, verification, and underwriting processes of credit data.

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Nova Credit, the leading cross-border and alternative credit analytics company, has announced a strategic collaboration with Creditinfo, a global service provider for credit information and risk management solutions, to help Ukrainians gain access to the necessary financial services needed to effectively rebuild their lives abroad. The partnership is powered by Nova Credit’s Credit Passport®, the only cross-border credit solution enabling newcomers to access their foreign credit history when applying for financial products in their new home country. Bridging this critical data gap, Nova Credit and Creditinfo are providing Ukrainian expats and refugees with the tools they need to get started on the right financial footing upon arrival.

Nova Credit, the data analytics company enabling businesses to grow responsibly by harnessing alternative credit data, today announced the appointment of Nicole Newlin, veteran finance and customer expert, as Chief Customer Officer supporting Nova Credit’s significant and growing client roster. The company also promoted Collin Galster to Chief Operations Officer, Yacine Azmi to Chief Technology Officer, and Chris Hansen to General Manager, Cash Atlas™ Solutions. This news comes shortly after the announcement of Nova Credit’s Series C financing which is enabling the fast-growing fintech to broaden its product offerings and provide end-to-end infrastructure and analytics for lenders to better leverage alternative credit data.

Nova Credit, the data analytics company enabling businesses to grow responsibly by harnessing alternative credit data, announced it raised $45 million in Series C funding. The capital helps Nova Credit to further broaden its product offering beyond cross-border credit reporting and scale Cash AtlasTM, the industry’s leading solution for cash flow underwriting and verification of income and employment. The expansion enables the company’s partners to grow within risk appetite by incorporating an expanded suite of open finance data pipelines, unique datasets, and category-defining analytics and compliance applications.

Newcomers to the UK can now leverage their international credit history instantly and free of charge when applying for a credit card with HSBC UK1, thanks to a new partnership between the bank and Nova Credit, the world's only cross-border credit bureau.

Nova Credit and American Express announced today that they will expand the companies’ successful partnership to cover more immigration corridors to the U.S. Prospective Card Members that are immigrating to the U.S. from South Korea and Switzerland will now have the ability to easily share their international credit report with American Express when applying for a personal American Express credit card.

Today Nova Credit, the world’s leading consumer-permissioned credit bureau, and Scotiabank have partnered to serve Canadian newcomers as Nova Credit becomes the first, and only, cross-border credit bureau to operate in Canada. With this news, Scotiabank will be the first Canadian-based bank to offer prospective customers the ability to share their foreign credit reports when applying for Scotiabank products, powered by Nova Credit’s Credit Passport® which unlocks cross-border credit bureau data to help businesses underwrite new-to-country newcomer populations.

Today Nova Credit – the world’s leading consumer-permissioned credit bureau – in partnership with independent research firm, Researchscape, unveiled The State of Alternative Data in Lending that provides an inside look into how lenders are currently using alternative data in underwriting, the market’s perception of this growing trend and the untapped potential for improved underwriting. The report, which is based on a survey of 185 decision makers in the lending industry, found that three-quarters (74%) of lenders believe traditional credit report data does not paint the most complete picture of consumer credit worthiness, with most (59%) now turning to various forms of alternative data in their underwriting process to fill the gap.

Nova Credit, the world’s leading consumer-permissioned credit bureau, today announced that it has partnered with HSBC to provide the bank with global access to its cross-border credit data product, Credit Passport®, creating more opportunities for credit access to cross-border customers across the globe. This partnership will allow HSBC to access the translated credit history of new-to-country consumers as part of their credit applications, upon their permission. This innovative solution will enable the bank to make more real-time application approvals responsibly and at a greater scale. The first deployment, with HSBC Singapore, launched in May.

Today Nova Credit, the world’s leading consumer-permissioned credit bureau, announced a partnership with Vesti, the finance app focused on alleviating barriers for Nigerians moving to the United States. The partnership will allow Vesti to leverage Nova Credit’s Credit Passport® to help approve more Nigerian newcomers for the new Vesti Card, which will provide a stepping stone for users to start building a U.S. credit profile upon arrival.

Nova Credit, the world’s leading consumer-permissioned credit bureau, in partnership with Verizon, announced today that they have expanded their partnership to offer international credit checks for new-to-country customers over the phone and in select Verizon stores as part of its flagship retail program. With this partnership, Verizon will expand the use of Nova Credit’s Credit Passport® to in-store and via phone, enabling them to pull prospective customers’ international credit files and translate it into a credit score that may qualify them for financing. This news follows Verizon’s announcement in March, which introduced Verizon as the first carrier in the U.S. to provide people new to the country access to the best device financing on the network America relies on.

Today Nova Credit, the fintech unlocking opportunities for mainstream and credit-excluded consumers and the companies looking to serve them, announced continued recognition as an employer of choice in today’s competitive tech talent market. The company has been named both a Best Place to Work in Fintech by American Banker – an annual award designed to identify, recognize and honor the best employers in the financial technology industry – and a Best Small and Medium Workplace in the Bay Area by Fortune – a prestigious list that ranks the best companies to work for in and around San Francisco.

Nova Credit, the fintech unlocking opportunities for mainstream and credit-excluded consumers and the companies looking to serve them, announced a partnership with Alloy, the leading identity decisioning platform for banks and fintech companies. The partnership will combine Alloy’s Identity Decisioning Platform and Nova Credit’s global credit infrastructure solutions to enable lending businesses to become more inclusive and serve more consumers across the credit spectrum, without increasing the risk of fraud.

A new partnership between two pioneering fintechs, Nova Credit and Prodigy Finance, will create more opportunities for thousands of international students to fund their education in the U.S. Prodigy Finance will incorporate Nova’s Credit Passport® solution seamlessly into their loan application process, giving them access to global consumer credit bureau data.

Nova Credit, the fintech unlocking opportunities for mainstream and credit excluded consumers and the companies looking to serve them, today has launched its latest product, Cash Atlas™ – a first-party cash flow underwriting solution that transforms bank transaction data into a Fair Credit Reporting Act (FCRA) consumer report, informing businesses’ lending decisions by painting a more holistic view of consumers’ financial health.

Nova Credit, the fintech unlocking opportunities for those historically excluded from the credit system and companies looking to serve them, and SafeRent Solutions, an innovator in resident screening and renters insurance solutions, today announced a strategic partnership that will make it fast and easy for property managers to run credit checks on newcomer populations.

Nova Credit, the fintech unlocking opportunities for those historically excluded from the credit system and companies looking to serve them, today announced it has expanded its leadership team with the appointment of Patrick Cadic as Chief Revenue Officer and Collin Galster as Vice President of International. The two leaders bring a mix of industry expertise, institutional knowledge and experience operating hyper-growth organizations as the company prepares for significant expansion in 2022.

Nova Credit, the fintech unlocking opportunities for those historically excluded from the credit system and companies looking to serve them, today announced its inclusion in Built In NYC's list of Best Places to Work in 2022 – specifically on NYC’s Best Small Companies to Work For and Best Paying Companies lists. This is Nova Credit’s second consecutive year ranking on both lists.

Nova Credit, the fintech unlocking opportunities for those historically excluded from the credit system and companies looking to serve them, has announced the availability of its income verification solution for Yardi® to offer its residential property managers. This technology enables users to perform fast, secure, FCRA compliant income and employment verifications through its ScreeningWorks® Pro resident screening solution.

Today, Nova Credit, the fintech unlocking opportunities for those historically excluded from the credit system and companies looking to serve them, announced a partnership with Westlake Financial – a technology-based finance company that specializes in the acquisition and servicing of prime to subprime automotive retail installment contracts – to provide the company access to Nova Credit’s global credit data. As Nova Credit’s first and only partnership in the auto industry, this joint venture will enable Westlake to unlock industry-best auto loan offers to over one million immigrants – or ‘newcomers’ – who arrive in the U.S. every year.

Nova Credit, the fintech unlocking opportunities for those historically excluded from the credit system and companies looking to serve them, announced today that CB Insights has named Nova Credit to the fourth annual Fintech 250, a prestigious list of emerging private companies working on groundbreaking financial technology. This year’s list was unveiled on stage at CB Insights’ Future of Fintech conference in New York City.