Nova Credit UK, a wholly-owned subsidiary of Nova Credit, has received approval from The Financial Conduct Authority (FCA) to provide credit references in the UK. 

The firm intends “to make it easier, faster, and more equitable” for immigrants living in the UK to access credit products and services through its Nova Passport technology, the company said in a statement.  

Nova Credit UK’s parent company, US-founded Nova Credit, a credit bureau with a focus on financial inclusion for immigrants globally. 

In April 2022, Nova Credit announced its intention to expand to Europe, starting with the UK. 

“Since launching in 2016, the company has developed partnerships with credit bureaus in over 20 countries, enabling millions of immigrants to bring their foreign credit history with them when applying for credit products,” according to a press release.  

Nova Credit’s technology will potentially allow financial service providers in the UK access “to over 2 billion credit profiles worldwide,” meaning they will be able to “incorporate credit information from foreign bureaus as part of their creditworthiness assessment,” the company said.  

Acquis has expanded its partnership with PEAC Solutions, a move that will see Acquis offer equipment protection insurance for both hard and soft assets to cover equipment used by PEAC’s SME and other interested clients, the two said in a statement. 

The addition of Acquis’ equipment protection insurance solution – Acquis Supra – to PEAC’s hard asset portfolio will provide much value to PEAC’s client base. With hard assets often business critical, any negative impact on the equipment can quickly have damaging repercussions. 

In addition to ensuring all leased equipment is adequately protected, Acquis Supra is serviced by a specialist claims management team which guarantees that claims are handled quickly and efficiently, to ensure the client’s business can continue without interruption. 

Nick Leader, CEO of Acquis, said: “We’ve been working with PEAC since 2019 and have forged a strong working partnership during that time. We are delighted to be extending our insurance solution to protect PEAC’s hard assets.  

“The expansion of our relationship with PEAC further demonstrates that the Acquis Supra product can be tailored to work just as well for hard asset portfolios as it does for the more traditional soft asset portfolios." 

CSI Leasing, an independent equipment leasing company based in the US, has established a subsidiary in Sweden to bolster its operations in the Nordic market. 

The move follows the launch of CSI Nordics in September last year, which currently has offices in Oslo and Stavanger, Norway. 

As part of its strategy to sharpen its focus on the Nordic region, the company established CSI Leasing Denmark earlier this month. 

With the launch of the Sweden unit, the company now has subsidiaries in 12 European countries, providing services to clients in more than 50 countries worldwide. 

CSI Leasing senior managing director for Europe Javier Heredia said: “This step reinforces our growth strategy in both Europe and Scandinavia. It will allow us to offer an even more seamless experience to our Nordic and global customers.” 

The company noted that the new entity, CSI Nordics AB (CSI Sweden) will immediately commence its existing portfolio of global customers with subsidiaries in the country. 

The newly formed subsidiary will offer asset lifecycle management solutions for medium and large, enterprise-level organizations based on sustainable circular economy principles. 

Kenneth Mitsem, currently the general manager of CSI Nordics, has been chosen to manage CSI Sweden. 

BNP Paribas Leasing Solutions UK has formed a financing partnership with Hitachi Construction Machinery UK (HCM UK). The collaboration will see BNP Paribas LS UK act as the exclusive finance partner for HCM UK’s equipments in the UK and the Republic of Ireland.

Simply Asset Finance, a provider of asset finance to small and medium-sized businesses, has joined the industry body Innovate Finance, which represents fintech community in the UK. Unlike banks, Simply Asset Finance says it does not focus only on balance sheet and credit ratings to offer loans.

The agricultural division of Haydock Finance has launched a product for the UK dairy sector. Dairy Cattle Finance “includes refinancing and has been designed to support British farmers with their cattle purchasing and cash flow requirements,” the provider said during an Agri Finance webinar unveiling to its broker partners.