Al Etihad Credit Bureau collaborate with Nova Credit for access to international cross-border credit information
Al Etihad Credit Bureau (AECB) has entered a strategic collaboration with Nova Credit, the world’s consumer-permissioned credit bureau, to enable newcomers to leverage their home country credit history when applying for financial services upon arrival to the UAE. The collaboration facilitates real-time, large-scale application approvals by enabling AECB subscribers, UAE-based local and international financial institutions and lenders, access to translated credit history of new UAE expatriates, upon their approval as part of credit applications.
Credit Passport, powered by Nova Credit, is now available for AECB subscribers to support credit applications with history in countries including India, the Philippines and UK with other countries to follow in the near future.
Misha Esipov, Co-Founder and CEO of Nova Credit said, “Building a borderless financial system has been our guiding vision since our inception and by bringing the Credit Passport to new parts of the world, we are one step closer to making this a reality. With this collaboration, AECB will be able to better support the thousands of newcomers to the UAE every year seeking access to the financial services they need to get started and thrive in their new home.”
The initiative reiterates AECB’s commitment to enhancing the UAE financial ecosystem as the first institution in the GCC with the capability to provide real-time access to standardized foreign credit data from multiple bureaus around the world.
Marwan Ahmad Lutfi, CEO of AECB, said, “AECB is proud to be among the region’s first federal entities to provide cross-border credit solutions, creating value for lenders, individuals, businesses, government entities, and the public through key collaborations with international bureaus. We reiterate our commitment to creating a positive social impact, in line with the UAE’s vision of becoming the epicentre of a borderless global economy.”
AECB’s new foreign credit data offering brings multiple benefits to subscribers including integrated access to hundreds of millions of standardized consumer data records from dozens of leading credit bureaus around the world. AECB and Nova Credit’s end-to-end data delivery model, which undergoes rigorous quality control processes, is fully compliant with foreign and UAE jurisdiction regulations.