How one startup aims to help ‘credit invisible’ foreign workers in the U.S.
For millions of immigrants and temporary foreign residents in the U.S., establishing a financial identity here can be complicated and expensive. Since credit reports don’t cross borders, an immigrant with an exceptional credit score in his home country may arrive in the U.S. as “credit invisible” — a status that may render him ineligible for loans or long-term housing.
“From getting a credit card, an auto loan, or getting a mortgage, all those use cases require a financial identity,“ said Misha Esipov, CEO of Nova Credit, a startup that’s developed a product called “Nova Credit Passport,” an alternative credit report that’s based on credit bureau data from other countries. The product launched last summer.
Nova Credit is an alternative score to assess foreign residents’ creditworthiness based on their home country credit data. It can also be used for Americans returning to the country after years working abroad. The company obtains the data through agreements with major foreign credit bureaus, a process that can only be initiated with the customer’s consent, Esipov said. Though Nova Credit is initially focusing on India and Mexico, it has entered into arrangements with credit bureaus in Europe, Canada, Australia and the Philippines. The company said it has forged relationships with U.S. banks and credit card issuers, though one analyst said U.S. lenders may still have questions about scores based on foreign credit data.
Why a leading Twitch streamer is founding her own talent management and brand consulting firm
In addition to protecting creators’ wellbeing by diversifying RTS’s revenue streams, Anys hopes to use her company to create more opportunities for female streamers and other creators in marginalized groups.
Ad execs dismayed, but not surprised, by tactics Google allegedly used to control digital ad dollars
Update: An earlier version of this article stated that there were 10 states in the U.S. involved in an antitrust lawsuit against Google, whereas its actually 14 as more were added. We have therefore amended the article to reflect this. If advertisers and publishers are rattled by the latest allegations against Google then they’re not […]
Myth buster: Hybrid working models’ biggest misconceptions
In the stampede to figure out the right hybrid-working models, misunderstandings can take root and lead to further headaches. Here is a myth buster.
SponsoredHow cloud technologies are helping media companies unlock the value of data collaboration
Bill Stratton, global head of media, entertainment and advertising vertical, Snowflake Many of today’s media businesses and advertisers are redefining their business models in response to shifts in consumer behavior and the availability of new technologies. For instance, over the past few years, content creators such as Disney, NBCUniversal and HBO have begun selling their […]
‘A fundamental failure of a national privacy law’: Acxiom CEO on what’s needed to get data back on track
Data is more vital to any marketing business than ever before, but privacy regulations are tightening to ensure consumers are protected, making data gathering just that much harder. In the middle of this tug-of-war sits Acxiom.
‘There are suspicions’: Four confessions on Google’s influence over programmatic media
In the latest in our Confessions series, we spoke to four execs about the trials and tribulations they went through to find out how far Google is willing to go to control the flow of online media dollars.