Nava has appointed Equifax to support the underwriting of unsecured personal loans for its UK borrowers.
Nava has integrated Equifax solutions with its existing underwriting and risk management software, to support its credit analytics, credit scoring and applicant ratings. The real-time data which Equifax provides supports Nava in making specific lending decisions, while managing risk.
Joseph Dlutowski, co-founder and CFO of Nava, said: “The data and customer insight which Equifax provides will strengthen our commitment to lending responsibly to a broad range of UK borrowers.
“Nava has been built on deep customer analytics and a desire to lend in a fair and flexible manner, a stark contrast to some banks. Equifax will support this capability, improve the customer experience and minimise risk.”
Karl-Magnus Wadsack, principal consultant – alternative lending at Equifax, said: “This appointment by Nava demonstrates that Equifax is well positioned to provide solutions to a wide range of lenders, including new, innovative and forward-thinking organisations.
“Nava is taking a unique approach to credit analytics and we welcome that new entrants are focused on improving the underwriting process to benefit the consumer.”