Some 840,000 Ukrainians have fled to the US, UK and Canada, where they’ve struggled with a lack of credit history.
In brief:
- 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.
- With many seeking permanent residency, credit history is critical to re-establishing their lives overseas, but until Nova Credit’s solution, there was no way to do this.
What does this mean?
“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.”
