Report Credit Bureau

Credit Bureau Report

They can also report the good results. Noordigen receives funding to disturb credit offices Nordigen's successful track record in Europe is aimed at disrupting credit bureaux and facilitating loan accessibility for those who are worthy of credit. The financial sector is one of the traditionally important sectors that has undergone pioneering changes in recent years. Loan offices are the next in line for disruptions. It is because credit institutions make their credit choices on historical credit records from credit agencies, but not many individuals have a credit histories form.

Only 30% of the world's people have a credit bureau cover rating that is a high, according to the World Bank Group' report* on covering credit bureaux. Moreover, credit bureaux have been working with the same old instruments for centuries and their findings are often imperfect and out-of-date. Banking information is a good option to credit information.

This is where Nordigen comes in. Nordigen Corporation makes it possible for a creditor to immediately check the actual earnings and expenditure behaviour of a client in order to make an initial credit rating for him. "It'?s tough to like credit bureau? at the present time. They did what they had to do, but with the advent of Open Banking, we are now able to develop technology that is much quicker, more dependable and more responsive than conventional credit assessments.

It is a good moment to establish a truly international option to credit bureaus," says Rolands Mesters, co-founder of Nordigen. Nordigen, with a burgeoning customer franchise and sector acclaim, has found strong investment backers such as Finland's biggest risk equity investment company and Europe's top Seedinvestor to join Pre-Seed-Investor Change Ventures.

"Loans and debts are two important fundamentals of our system. Credit assessment was much more sluggish and prohibited many prospective clients from accessing finance products. We are pleased to support Nordigen's outstanding entrepreneurs and firmly believe that they are striving for a clearer and more open approach that will make it easy for banks to connect with more credible clients, and more clients to connect with broader range of finance services," said Carlos Espinal, Seedcamp MD.

"Credit rating agencies and other legacies have long been dominating the credit rating business. That means that many individuals who should not get credit are getting credit and many individuals who would be eligible for credit are not having their credit taken or the credit is overpriced.

Nordic has its own dedicated solutions that can already exceed the performance of large credit bureaux in certain markets," says Lauri Kokkila, Investment Manager at Inventure. Nordigen will employ the new fund on a broad front with a strong emphasis on distribution and performance. Founded in 2016 in Riga, Latvia, by two Google Demo Day alumni, Roland's Mesters and Roberts Bernans, Fintech Nordigen's start-up company was founded in 2016.

It now works with banking and alternate creditors in 12 different markets around the globe, among them the Baltics, Spain, Finland, Poland, Denmark, Sweden, Germany, the Czech Republic, Australia and New Zealand. The Nordigen project points the way to a forward-looking approach in which credit decision-making is made on the basis of an applicant's real situation and not on the basis of historical credit data.

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