Nova Credit is a financial technology startup that operates in the credit industry, specifically targeting newcomers to the U.S. who have previously built credit histories in their home countries. The company's primary service is to translate international credit data into a standardized credit report, which can be used by financial institutions to assess the creditworthiness of these individuals. This service, known as Credit Passport®, allows these newcomers to access financial products such as credit cards, loans, and device financing, which they might otherwise struggle to obtain due to lack of a U.S. credit history.

In addition to Credit Passport®, Nova Credit also offers a product called Cash Atlas™. This tool uses consumer-permissioned bank transaction data to improve risk prediction for consumers with extensive credit histories (thick-file consumers) and to expand credit access to consumers with limited or no credit histories (thin-file and no-file consumers).

Nova Credit's business model is based on providing these services to financial institutions, enabling them to expand their customer base and make more informed lending decisions. The company generates revenue by charging these institutions for access to its analytics and credit translation services.

In summary, Nova Credit is a fintech startup that leverages international credit data and bank transaction data to help financial institutions expand their underwriting capabilities and reach new customers, particularly newcomers to the U.S.

Keywords: Fintech, Credit History, Financial Institutions, Underwriting, Creditworthiness, International Credit Data, Bank Transaction Data, Risk Prediction, Newcomers, Credit Access.