Scotiabank has deepened its collaboration with Nova Credit, a leading credit infrastructure and analytics company known for its Credit Passport technology.
The partnership aims to make it easier for newcomers to Canada, including permanent residents and foreign workers who have been in the country for less than five years, to access credit by integrating Nova Credit’s Credit Passport® directly into Scotiabank’s digital credit card application process.
Nova Credit’s platform allows eligible applicants to use their international credit history from select countries to qualify for higher credit limits on Canadian credit cards. Scotiabank first partnered with Nova Credit in 2023, becoming the first Canadian bank to do so, and is now the first in the country to embed this capability into a fully digital onboarding experience.
Through this integration, newcomers can open chequing, savings and credit card accounts entirely online after arriving in Canada. This reduces the need for in-branch visits, enabling faster and more convenient access to essential financial services from home.
The service is offered alongside Scotiabank’s StartRight™ Program, a tailored banking package designed to meet the needs of newcomers. Benefits include no monthly account fees on a chequing account for the first year and no-fee international money transfers, aiming to help customers build a solid financial foundation from day one.
Scotiabank senior vice president, retail client value, deposits and investments Kingsley Chak said, “Scotiabank is proud to be the first bank in Canada to fully integrate Nova Credit into a digital onboarding experience. This advancement reflects our commitment to removing barriers and helping newcomers qualify for higher credit limits with greater ease and confidence.”
Chak added, “We understand that building a new life in a new country comes with challenges. With the added enhancements of the Nova Credit integration and a new digital onboarding experience, Scotiabank is helping remove some of those hurdles, empowering newcomers to begin their financial journey in Canada with confidence.”
Nova Credit chief operating officer Collin Galster said, “We’re seeing tremendous momentum helping newcomers arrive and thrive in Canada. Our collaboration with Scotiabank shows that newcomers can be served at scale by integrating Credit Passport seamlessly into digital banking experiences. This removes a major barrier that has historically forced millions of newcomers to start over upon arrival, despite having established credit history in their home country.”
Keep up with all the latest FinTech news here
Copyright © 2025 FinTech Global
