Newcomers arriving in the U.S. now drive more than 50% of U.S. population growth. Yet lack of domestic credit history means millions of recent arrivals appear only as no-file or thin-file when applying for financial services. Nova Credit helps lenders access global consumer credit bureau data to acquire millions of these newcomers with no additional risk.
Immigrants face an uphill battle to start their lives in a new country. Underwriters who remove barriers to entry are rewarded with loyal, often lifetime customers.
New and qualified immigrants
Needed in the first 2 years
We're removing a barrier for millions of newcomers to the U.S. who arrive and instantly lose access to the credit history they built elsewhere. It's challenging to underwrite an applicant without knowing their credit history and the absence of a credit identity can make significant transactions, like getting a credit card, very difficult. Nova Credit's Credit Passport helps American Express give people access to their international credit data so that they can arrive and thrive in this country.
Sara Milsten, Senior Vice President, New Member Acquisition, U.S. Consumer Services at American Express
Using Nova Credit's services, we have a better way to quickly and accurately evaluate the loan requests of members outside the U.S.
United Nations Federal Credit Union
Nova Credit makes the process extremely easy. It’s a huge advantage for our property managers and leasing agents, and a win-win situation for everyone.
Nova Credit provides lenders with consumer credit data that is translated to a U.S.-equivalent score and reports it in a format that is familiar to American underwriters. We deliver this information seamlessly to enable instant decisioning for our clients, including major U.S. financial institutions, consumer lenders, telecom companies and tenant screening platforms. Nova Credit operates as a reseller Consumer Reporting Agency (CRA) under the U.S. Fair Credit Reporting Act (FCRA).
U.S. equivalent credit score
Tradelines and payment history
Aggregate risk attributes
Additional data such as employment history and more
A collection of frequently asked regulatory and compliance questions by our customers and partners.
Data privacy, information security, and compliance are at the heart of everything we do at Nova Credit. Nova employs organizational, technical and physical measures to protect security, confidentiality and integrity of customer information. These safeguards include:
AWS-managed disk-level encryption of our report database using AES-256 algorithms and TLS 1.2 standard encryption for data in transit Internal and external vulnerability scans