Nova Credit provides a platform to access unified consumer credit data from multiple sources, including international credit bureaus, bank data aggregators, payroll systems, and automated document data.

Nova Credit

Nova Credit is a credit infrastructure and analytics company that enables businesses to grow responsibly by harnessing alternative credit data. The company is a CRA that 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 comprehensive suite of solutions designed to give lenders across various industries 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, Income Navigator, are used by leading organizations like American Express, Verizon, HSBC, SoFi, Scotiabank, and Yardi.

We're hiring! https://jobs.lever.co/neednova

🏆 🏆 🏆 Nova Credit is thrilled to be recognized as one of the world's top #fintech companies in 2024 for having a positive and innovative impact on financial services! We are included as a leading global fintech providing banking solutions.

This award is a testament to the foundational impact that open banking and alternative credit data have in improving the lives and financial opportunities of millions of people. 📈 📈 

We congratulate all of the companies awarded this year for reshaping the financial ecosystem. 

Check out the full list of companies below ⤵ ⤵ ⤵

Attending Apartmentalize this week?

Catch up with the Nova Credit team on how we are helping property managers fight fraud and conduct better, faster, smoother tenant screening. 

Our partners have seen conversion rates improve up to 80% over previous solutions by leveraging our waterfall with bank, payroll and pay stub data.

DM us to book a meeting and learn more about our income verification solution here.

https://lnkd.in/evdGcPWK

Cash flow underwriting is quickly becoming a go-to strategy for growth, packed with ways to boost performance across the customer lifecycle. Currently, more than 43% of lenders are integrating alternative data into their underwriting processes.

Ready to take advantage of this industry wave?

Access the on demand virtual event to discover best practices of cash flow underwriting adoption. Gain insights from industry leaders Chris Hansen, Sarah Davies, Ph.D., and Joy Wilder Lybeer who bring years of experience partnering with top financial institutions.

Learn at the link below ⤵

🇨🇦  🇨🇦 🇨🇦  Canada's immigration rates are soaring, with plans to welcome nearly 1.5 million permanent residents over the next three years.  This marks the highest growth rate in decades.

Traditionally, newcomer applicants lack the traditional paperwork to secure access to credit products. 

Our partnership with RBC creates a smoother financial start for newcomers. 

With the expected immigration growth, the time is now for Canadian financial institutions to unlock the power to underwrite the credit invisible without increasing risk.  We are excited to partner with RBC to drive toward a more fair, inclusive financial future. 

Learn more about the RBC partnership below ⤵ 

And, if you are attending Collision Conf this week, don’t miss Misha Esipov's session at Collision 2024 to explore Canada's new-to-country momentum.

The wealth gap is disproportionately impacting minority populations and unfortunately widening in recent years. 

Exploring this disparity is at the center of Penny Crosman recent feature, “The racial wealth gap is getting wider. Can technology fix it,” a must read for all those committed to building a more inclusive financial system.

1 in 5 Americans lack a credit score, and traditional credit data lacks the breadth to serve underrepresented segments. 

As our CEO Misha Esipov added, "There's not enough data in the traditional credit bureau system to give lenders confidence about how to lend to segments that are not well represented in the credit bureau file… Our belief is that when you have more data and more visibility, you can responsibly serve these segments that the traditional credit bureau model just doesn't quite capture."

Nova Credit’s platform includes cash flow and income data sources to paint a full picture of creditworthiness.

Read the full article below ⤵ 

#FinancialInclusion #CreditInnovation #NovaCredit

According to a recent Experian report (https://lnkd.in/dYUkT8Sh), 106 million adult Americans are considered unscoreable, invisible or subprime. These potential customers are often outright declined, or offered subpar options or rates when applying for credit.

More than 50% of Gen-Z and millennial applicants are more comfortable using alternative financing options than traditional forms of credit, meaning this number could still be growing. Meanwhile, more than 60% of financial institutions are already using alternative data.

At Nova Credit, we’re on a mission to create a fair and inclusive financial system for the world. With our cash flow underwriting, cross-border credit, and verification solutions, we’re helping lenders and consumers across the customer lifecycle - from application and underwriting, to verification and portfolio management. Learn more at novacredit.com.

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