Mifundo, Equifax launch cross-border credit data partnership

By Parth Prabhudesai

Mifundo has partnered with Equifax BoaVista to enable European lenders to access verified Brazilian credit data, marking a significant step in the evolution of cross-border lending infrastructure.

The partnership establishes a new credit data corridor between Europe and Latin America, allowing banks in Europe to assess Brazilian nationals using verified financial histories from Brazil.

Through the integration, European lenders will be able to retrieve data including repayment behaviour, existing debt obligations and credit utilisation patterns from Brazil. The information will be standardised and delivered through Mifundo’s platform in a format compatible with existing underwriting systems, without requiring banks to redesign credit models or operational processes.

The development is expected to benefit the more than one million Brazilians living and working across Europe, many of whom currently face difficulties accessing loans and financial products due to limited or invisible local credit histories.

Despite maintaining established repayment records in Brazil, applicants are often treated as “thin-file” customers by European financial institutions, leading to rejected applications or higher borrowing costs.

Silvio Santana, Commercial Vice President at Equifax BoaVista, said the partnership helps make Brazilian credit histories visible internationally.

“By making this data accessible to European lenders, we support more accurate credit assessment for Brazilian citizens abroad and enable better-informed lending decisions across borders,” Santana said.

Kaido Saar, Founder and Chief Executive Officer of Mifundo, said many banks continue to rely primarily on domestic credit infrastructure despite serving increasingly international customer bases.

“Access to verified Brazilian credit data allows banks to assess nationals from that country based on actual financial behaviour rather than assumptions driven by missing information,” Saar said.

The partnership represents Mifundo’s first expansion beyond Europe. The platform currently connects credit data from more than 20 European countries, covering over 70% of the region, as it continues building cross-border financial data infrastructure for globally mobile consumers.