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Nova Credit looks to help Ukrainian refugees access credit data
Some 840,000 Ukrainians have fled to the US, UK and Canada, where they’ve struggled with a lack of credit history
Cross-border credit bureau Nova Credit has partnered with credit bureau Creditinfo in a move to unlock the credit data of Ukrainians displaced by the Russian invasion.
Nova Credit is using its Credit Passport solution to bridge the data gap between Creditinfo’s International Bureau of Credit Histories (IBCH) Ukraine and financial services in markets like the UK, US and Canada.
By helping tie these services together the partnership aims to support Ukrainians in accessing essential financial services required to rebuild their lives abroad in the wake of the Russia-Ukraine War.
“Of the many credit-excluded migrant populations around the world, few are in more dire need of support than the Ukrainian people," Misha Esipov, CEO and co-founder of Nova Credit said.
“We set out to build this partnership with Creditinfo and IBCH Ukraine from the onset of the war, and our teams have worked hard to enable this integration.”
Nova Credit says some 840,000 Ukrainians have moved into the markets its solution serves, and this number is only expected to grow.
With many seeking permanent residency, credit history is critical to reestablishing their lives overseas, but until Nova Credit’s solution, there was no way to do this.
Today there are several lenders already using Nova Credit’s Credit Passport including American Express, HSBC, Scotiabank, Verizon, and UNFCU.