Unlock millions of new customers
Traditional credit underwriting practices exclude millions of consumers from financial products and services, and provide an incomplete risk profile for mainstream consumers. Nova Credit helps businesses access trusted financial data to confidently serve these consumers with credit cards, personal loans, auto loans, student loans, and more.
Expand into untapped consumer segments
Credit excluded consumers are as diverse as the population. These consumers are underserved not because they are high risk, but because the traditional credit system can’t consistently assess their potential risk. Lenders who improve their underwriting strategies to be first in wallet will be rewarded with loyal and often lifetime consumers.
Recent immigrants seeking ~5 credit products
No-file or thin-file customers, like Gen Z and Millennials, seeking their first credit card, loan, or secondary education
Working with Nova Credit
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.”
Atul Ranjan, Vice President, New Account Underwriting, 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.
The only way to help identify qualified newcomers for mainstream credit.
Nova Credit provides lenders the ability to assess the creditworthiness of U.S. newcomers to issue financial products like credit cards, loans, phone plans, and more. Through an API, lenders can access international credit data, translated in real-time to a standardized credit report, that includes a U.S.-equivalent score, summary attributes, and tradeline information.Learn More
Better assess credit risk and increase originations using bank transaction data.
Nova Credit enables lenders to improve credit risk assessment for mainstream consumers and expand credit access to no-file and thin-file consumers. Lenders can confidently assess credit risk by instantly leveraging bank transaction data to analyze income, assets, debts, and expenses.Learn More
Security and Compliance
Nova Credit accesses consumer-permissioned data through integrations from international credit bureaus and through data aggregators for checking and savings account data in the United States. In the U.S., Nova Credit operates as a consumer reporting agency under the Fair Credit Reporting Act (FCRA).
Consumers have the opportunity to dispute information in their credit histories that may be inaccurate, incomplete, or otherwise incorrect. We care about resolving these issues as efficiently as possible. For more information about our dispute resolution process, please see our Disputes Page.
Security and Privacy
Data privacy, information security, and compliance are at the heart of everything we do at Nova Credit. Nova Credit employs organizational, technical and physical measures to protect security, confidentiality and integrity of customer information. These safeguards include:
- End-to-end encryption for all data, using secure 256 bit ciphers
- Annual independent audit against the SOC 2 Type 2 and ISO 27001 standards
- Robust monitoring and testing for security vulnerabilities
- Role-based access controls
- Internal and external vulnerability scans
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