Mifundo, a fintech company developing a pan-European cross-border credit data platform, has entered into a partnership with SOLUS, the credit-information register run by Společnost pro informační databáze (SID).

Integrating Czech Credit Data

The collaboration brings together Czech credit data within Mifundo’s unified framework, enhancing cross-border credit evaluations throughout Europe.

With millions of Europeans moving annually for work, education, or family reasons, financial histories frequently remain localized. Banks and lenders assessing applicants with credits in multiple countries often confront hurdles: sluggish verification processes, fragmented data, and risk models that struggle to evaluate cross-jurisdictional financial profiles. Incorporating verified information from various jurisdictions helps financial institutions make more precise and uniform lending decisions.

The partnership will see Mifundo’s platform include details from the SOLUS database, one of the largest Czech registries of individuals with overdue debt. This includes entries from public records of debt enforcement actions and insolvencies. Combining this information with Mifundo’s current European dataset provides banks with a complete view of applicants’ credit histories across several countries. All data queries necessitate explicit consumer consent and are accessible only through secure online requests, ensuring compliance with privacy regulations.

Enhancing Credit Decision-Making

The SOLUS database compiles information from around 50 companies, representing diverse sectors such as banking, non-bank financial institutions, telecommunications, energy distribution, and peer-to-peer lending. These data points offer lenders detailed insights into repayment behavior, outstanding liabilities, and risk exposure.

By integrating this data, the platform supports Mifundo’s goal of reducing cross-border lending risks and improving credit access for mobile Europeans. Leveraging information from SOLUS enables faster, fairer, and more consistent lending decisions, fostering a connected European credit market. The collaboration strengthens the broader European financial ecosystem by linking local credit registers with international data frameworks, benefiting both lenders and consumers.