Case Study: Nova Credit achieves faster access to US credit for newcomers with Salt Edge

Nova Credit taps Salt Edge to enhance access to finance for newcomers to the US via open banking

Nova Credit, the premier cross-border credit reporting agency, faced the common challenge that newcomers to the U.S. lack local credit history, which blocks access to credit cards, loans and other services. To address this, Nova Credit partnered with Salt Edge and used Salt Edge’s open banking/data enrichment solution to obtain and normalize international banking data from applicants’ UK and EU accounts.

Salt Edge delivers structured, categorized bank transaction feeds from 31 European nations that Nova Credit incorporates into its Credit Passport®, providing real-time financial data to automatically verify identity, income, account numbers and balances. By using Salt Edge, Nova Credit expanded its country coverage, accelerated lender decisioning, and has helped thousands of newcomers gain faster access to U.S. financial products.

Nova Credit

Misha Esipov

Co-founder and Chief Executive Officer