Global credit report helps immigrants in new country

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?