The Nova Credit Passport is an international credit report from new agency Nova Credit and is designed specifically to help immigrants.
Much of fin tech development has focused on in-country mobility, like this bill-paying mobile chat app. International crowdlending, like this bitcoin platform, is more inclusive, widening access to financial products. Now, with immigration at an all-time high, new US-based credit-reporting agency Nova Credit is helping immigrants access credit faster and easier than ever before. The Nova Credit Passport is the world’s first cross-border credit report and possibly the most important step towards financial inclusion for immigrants.
Nova works with a variety of foreign credit partners, standardizing raw credit data in different languages into its English-language Passport. Financial institutions and businesses are charged for access to the reports. Experts estimate the market size of financially-active immigrants to be upwards of USD 600 billion. Nova plans on becoming the world-standard for international credit score reporting and transport, eventually making global moves seamless.
How else could globally connected credit help under-served audiences?