Chase has selected Nova Credit’s Cash Atlas™ and Credit Passport® solutions to enhance its cash flow underwriting capabilities and access international credit data. This integration aims to enable Chase to serve a broader range of customers across the U.
S., particularly those with limited credit history or who are currently underserved by traditional credit models.
Collin Galster, COO of Nova Credit, stated that the company is expanding its relationship with Chase to include both Credit Passport and Cash Atlas. He highlighted Cash Atlas as distinct from conventional credit data solutions, noting its ability to generate comprehensive risk profiles for consumers with no, thin, or even thick credit files. Galster expressed belief that this represents the future of consumer underwriting, facilitating responsible service to more individuals through cash flow analytics.
Cash Atlas provides FCRA-compliant cash flow analytics, offering insights into consumers’ actual financial health through trended data on income, expenses, and assets. This approach allows for a more complete understanding of the consumer’s financial standing. Concurrently, Credit Passport® will grant Chase access to international credit data, aiding in lending decisions for new-to-country consumers.
Chris Reagan, President of Chase Branded Cards, affirmed Chase’s commitment to being an accessible bank for all customers. Reagan indicated that tools like Cash Atlas and Credit Passport will contribute to this mission by providing a more comprehensive view of each individual’s credit needs. He added that these new data sources will improve credit risk assessment, lead to more informed lending decisions, and allow for the approval of customers with appropriately sized lines of credit.
Nova Credit is a credit infrastructure and analytics company focused on enabling businesses to grow responsibly by leveraging alternative credit data. The company utilizes its data infrastructure, analytics, and FCRA-compliance to address gaps in traditional credit analytics, supporting over 5,000 businesses globally, including HSBC, SoFi, Scotiabank, Appfolio, and Yardi.
Chase operates as the U.
S. consumer and commercial banking division of JPMorgan Chase & Co., a financial services firm based in the United States with $4.6 trillion in assets. Chase serves over 85 million consumers and 7 million small businesses, offering a wide array of financial services.
