Following a successful deployment in Singapore, HSBC Ventures invests in Nova Credit to further acce
Summary
This innovative solution will enable the bank to make more real-time application approvals responsibly and at a greater scale. The first deployment, with HSBC Singapore, launched in May.has made an investment of $10 million in the company.Global Deployment Starts with Singapore Historically, credit history has stopped at the border, preventing many financial services companies and lenders from being able to serve customers who have proven creditworthiness in their home country, but arrive credit invisible. Seeing the companys success in reaching migrant communities over the past six years in the U.S., it is clear that Credit Passport\xae should be shared with a wider audience. The companys differentiated data sources and proprietary analytics are used by leading organizations like American Express, Verizon, HSBC, SoFi, and Yardi. Nova Credit is backed by investors including Kleiner Perkins, General Catalyst, Index Ventures, and Canapi as well as executives from Goldman Sachs, JPMorgan, and Citi.