In an era of unprecedented global mobility, national financial systems must adapt to welcome newcomers. However, the immigrant journey, often fuelled by aspirations, is frequently met with the harsh reality of financial exclusion.
Following in the recent footsteps of Rogers, RBC, and Scotiabank, BMO has inked a new strategic partnership with Nova Credit, the leading cross-border credit bureau, to help eligible BMO customers access their international credit histories to gain greater access to credit products in Canada.
By integrating Nova Credit’s Credit Passport into the credit application process, newcomers from nine countries – including Australia, India, Kenya, Mexico, Philippines, South Korea, Spain, Switzerland and the United Kingdom – can now access their international credit score to help establish credit in Canada.
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Credit Passport seamlessly and securely integrates into a financial institution’s credit application process, enabling applicants’ foreign credit records and scores to be instantly accessed and translated. With access to trusted financial advice, tools and resources, newcomers can conveniently plan their journey and more easily transition their lives.
“Understanding that building a life in a new country can be an exciting but complex emotional and financial journey, BMO’s partnership with Nova Credit builds on our ongoing commitment to helping customers make real financial progress wherever they are,” said Sumit Sarkar, Head, Customer Growth & Segments, BMO.
“By providing convenient, personalized tools from pre-arrival and onwards, newcomers to Canada will be empowered to embark on their new journey with confidence and be ready to pursue their goals in their new home.”
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