AP NEWS

Sarah Davies, former VantageScore executive, joins Nova Credit

November 13, 2018

Addition reflects Nova Credit’s emphasis on credit risk and data analytics excellence

SAN FRANCISCO, Nov. 13, 2018 (GLOBE NEWSWIRE) -- Nova Credit, a San Francisco-based financial technology company, announced today that former VantageScore executive Sarah Davies has joined Nova as its Head of Risk and Analytics. Nova Credit is a cross-border credit reporting agency that directly integrates with leading credit bureaus around the world. Using its proprietary technology, Nova standardizes, translates, and structures raw international credit data so that it can be used to evaluate the creditworthiness of consumers moving to the USA and Canada from other countries. More information can be found at www.novacredit.com.

Nova Credit solves a problem long overlooked by the worldwide financial services industry: How to extend credit to new arrivals to America, many of whom have great home-country credit histories, and who come to the U.S. for highly skilled jobs or university enrollments? In the United States alone, the foreign-born population of over 46 million people has little access to credit upon arrival, which translates into hefty deposits for housing, cash for automobile purchases, slowly building credit with starter credit cards, and using prepaid phones.

Davies brings more than 12 years of experience running risk and analytics for VantageScore to her new role at Nova Credit; prior to VantageScore, she spent more than a decade performing risk and analytics for credit card issuers. VantageScore, formed in 2006 as a joint venture among the “big three” credit bureaus: Equifax, Experian and TransUnion is one of the most recognized and used scores in the market, with over 8 billion scores provided to date. VantageScore is also a popular credit score with consumers and is featured on prominent finance sites like Credit Karma and NerdWallet.

“We’re incredibly excited to have Sarah Davies join our growing team in such a pivotal role,” said Nova Credit co-founder and CEO Misha Esipov. “The infrastructure we’ve built gives Nova access to unique data, and when that data is combined with Sarah’s years of analytical leadership, we have the building blocks needed to develop a more inclusive global credit ecosystem -- a system where credit is available more equally and to those who need it most.”

About Nova CreditNova Credit, founded at Stanford University in 2015, is a mission-driven company solving the problem of credit access for immigrants. Its underlying platform is a proprietary solution which enables immigrants to transport their credit histories around the world, fully integrated with international credit databases, allowing lenders global access through a single API. In short, it’s the global platform for financial identity mobility. Nova Credit is backed by General Catalyst, Index Ventures, First Round, NYCA, Y Combinator, and the Financial Solutions Lab at CFSI, as well as former and current executives from American Express, Goldman Sachs, Citibank, TransUnion, PayPal, NerdWallet, LendingClub, Visa and Funding Circle.

MEDIA CONTACT:Shannon Austin for Nova Credit703.338.8813/shannon@finventurestudio.com

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