Mifundo, a Tallinn-based credit data platform, has partnered with London-based Yapily to expand the information available in cross-border credit reports. Mifundo brings together verified credit data from bureaus and registers in more than 20 European countries. Yapily's Data Plus product adds categorised bank account information when a customer gives consent.
The companies plan to combine bank account information with existing credit records in a standardised report for lenders. A customer may have credit history in one country and bank accounts in another, which makes a complete assessment difficult when the information must be gathered and interpreted separately.
Yapily will contribute open banking connectivity within Mifundo's wider network of data providers. Mifundo says the combined report will help lenders review financial histories that span national borders. The partnership concerns access to consented account data alongside verified credit information; it does not replace the existing credit bureau sources.