Welp MagazineCredit bureaus record and retain a multitude of data from bureaus. This data is used to analyze default rates, financial risk, and the working of scoring models among other financial nuggets. Notable credit bureaus cover legislation such as the Fair Credit Reporting Act (FCRA) which ensures that companies act within the bounds of the law. The credit industry is a highly lucrative one, and constitutes a major chunk of the Wall Street. The leading 4 companies of the Credit Bureaus dominate a whopping 95 percent share of revenue. And the trend is only going this way.
Realizing the possibilities of taking on this big pie, many companies are now vying to be there. Some of the big names in the credit industry today (bigger is better) are Equifax, Experian, TransUnion, and Experian. Other than these 4 names, there are many startups which are coming up and are very promising in their field. Making a mark in this industry will not be difficult, provided the startups fulfill their goals and promises.
The Vision with 24 Startups in the Credit Industry space
The 24 startups under the Credit Bureaus umbrella have been picked based on several parameters such as progress in the peer marketplace and indexed on several factors like their Crowdfunding investments, amount of users, overall progress, and the overall promise of the startup itself. This has been done with several inputs from the Angels and VCs in the space and the general consensus comes below. So, without further ado, here are the players to watch out for in the Credit Bureaus space.
1. Nova Credit
The idea behind this startup: Nova Credit is the premier cross-border credit reporting agency.
Headquarters: San Francisco, California, United States
Industries: Consumer, Credit, Credit Bureau, Data Integration, Financial Services, FinTech, Information Technology
Founders: Loek Janssen, Misha Esipov, Nicky Goulimis
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2. MK Decision
The idea behind this startup: MK Decision’s mission is to help community financial institutions thrive by receiving more deposits and more loans.
Headquarters: San Diego, California, United States
Industries: Banking, Credit, Credit Bureau, Credit Cards, Financial Services, FinTech, Lending, Risk Management, Web Apps
Founders: Guru Dharam Khalsa, Har Rai Khalsa
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3. Credit Kudos
The idea behind this startup: Credit Kudos is a credit bureau that uses financial behaviour and data through open banking to measure creditworthiness.
Headquarters: London, England, United Kingdom
Industries: Credit Bureau, Financial Services, FinTech
Founders: Freddy Kelly, Matt Schofield
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4. Naborly
The idea behind this startup: AI-powered credit reporting, scoring, and financial services for landlords and tenants.
Headquarters: San Francisco, California, United States
Industries: Artificial Intelligence, Credit Bureau, FinTech, Real Estate, Rental Property
Founders: Dylan Lenz
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5. Finclude
The idea behind this startup: Financial well being reinvented! Enabling fair access to credit!
Headquarters: Dublin, Dublin, Ireland
Industries: Consumer Lending, Credit, Credit Bureau, Financial Services, FinTech, Risk Management
Founders: Ioanna Stanegloudi, Yiannis Giokas
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6. Kreditz
The idea behind this startup: Kreditz real-time credit score based on bank transaction data from the past 12 months.
Headquarters: Stockholm, Stockholms Lan, Sweden
Industries: Apps, Consumer Lending, Credit Bureau, FinTech, Lending, Mobile
Founders: Roni Zacharion (né Bicér)
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7. Korea Credit Data
The idea behind this startup: The company provides business management software(CashNote) to small and medium-sized businesses in Korean and Japan.
Headquarters: Seoul, Seoul-t’ukpyolsi, South Korea
Industries: Big Data, Business Intelligence, Consumer Reviews, Credit Bureau, Financial Services, Information Technology, Management Information Systems, Small and Medium Businesses, Software
Founders: Kelvin Dongho Kim
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8. Micromoney International
The idea behind this startup: We provide a multi-purpose digital identity and opportunities to build creditworthiness and reputation for 2.5 bln unbanked people.
Headquarters: Mahé, Beau Vallon, Seychelles
Industries: Bitcoin, Credit Bureau, Financial Services, FinTech, Identity Management, Lending
Founders: Anton Dzyatkovskiy, Nagata Tetsuji, Oknha Sorn Sokna, Sai Hnin Aung
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9. maroon.ai
The idea behind this startup: Maroon is an enterprise credit risk and sales enablement platform
Headquarters: Philadelphia, Pennsylvania, United States
Industries: Analytics, Business Intelligence, Credit Bureau, SaaS
Founders: Ankit Sharma, Mehul Dhikonia
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10. roaring.io
The idea behind this startup: API services for person and company information
Headquarters: Stockholm, Stockholms Lan, Sweden
Industries: Big Data, Credit Bureau, Data Integration, Database, Developer APIs, Predictive Analytics, Text Analytics
Founders: Andreas Silén, Johan Jensen, Pål Ljungberger
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11. Zingo
The idea behind this startup: Zingo is a technology company that specializes in aggregating and furnishing consumer credit data.
Headquarters: Portland, Oregon, United States
Industries: Consumer Software, Credit Bureau, FinTech, Internet
Founders: Marco Buhlmann, Sean McMahon
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12. Gembex
The idea behind this startup: Intelligence financial marketplace
Headquarters: Tallinn, Harjumaa, Estonia
Industries: Blockchain, Credit Bureau, Financial Services, FinTech, Marketplace
Founders: Unknown
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13. Finscore
The idea behind this startup: Helps first-time borrowers to get access to credit and banks and FIs get more data & insights through smart credit scoring
Headquarters: Manila, Manila, Philippines
Industries: Analytics, Big Data, Credit, Credit Bureau, FinTech, Predictive Analytics
Founders: `Diana Krumova
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14. Kaoun
The idea behind this startup: Kaoun is a company that uses distributed ledger technologies and data science to change the payments and credits landscape of the MEA region
Headquarters: Tunis, Tunis, Tunisia
Industries: Blockchain, Credit Bureau, Cryptocurrency, FinTech, Mobile Payments
Founders: Anis Kallel, Nebras Jemel, Rostom Bouazizi
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15. VerumView
The idea behind this startup: A revolutionary Real-time KYC-tool has been designed to create a unique data source for online service.
Headquarters: Netanya, HaMerkaz, Israel
Industries: Credit Bureau, Financial Services, FinTech, Fraud Detection, Risk Management
Founders: Dmitriy Daron, Jonathan Pazi
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16. Scoriff
The idea behind this startup: Scoriff protects businesses against credit losses and late payments
Headquarters: Tallinn, Harjumaa, Estonia
Industries: Artificial Intelligence, Credit Bureau, FinTech, Machine Learning, Semantic Web
Founders: Peep Küngas
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17. CrePASS Solutions
The idea behind this startup: Peer-to-Peer Financial Integration Platform
Headquarters: Seoul, Seoul-t’ukpyolsi, South Korea
Industries: Consumer Lending, Credit Bureau, Financial Services, FinTech, Peer to Peer
Founders: Unknown
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18. CreditMonk
The idea behind this startup: CreditMonk A crowd sourced, user review based, transparent process for checking & giving feedback on a company’s payment habit and history.
Headquarters: Mumbai, Maharashtra, India
Industries: Consumer Reviews, Credit, Credit Bureau, Financial Services, FinTech, Information Technology, Retail Technology
Founders: Ridhi Doongursee
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19. Credit Hydra
The idea behind this startup: Protocol to Create a decentralized credit bureau on blockchain
Headquarters: Newark, California, United States
Industries: Banking, Bitcoin, Blockchain, Credit, Credit Bureau, Cryptocurrency, Ethereum, FinTech, Identity Management, Personal Finance, Virtual Currency
Founders: Abhishek Agarwal, Ko Ohashi
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20. moyoAI
The idea behind this startup: moyoAI helps financial institutions to assess and trust the underserved and unbanked population, through an end-to-end solution. Alternative Credit Score + Biometric-Based Identity Validation (eKYC) + Fraud Prevention (AML)
Headquarters: Mexico City, Mexico
Industries: Artificial Intelligence, Big Data, Credit Bureau, Psychometric credit score, Finance, FinTech, Machine Learning, Biometric identification, KYC, Fraud Prevention, AML
Founders: Carlos Lopez, Yogesh Mariwalla
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21. RateShop Inc.
The idea behind this startup: Fintech, Mortgage Brokerage, Registered Deposit Broker, Lending Administrator, Credit Card, Credit Bureau
Headquarters: Mississauga, Ontario, Canada
Industries: Auto Insurance, Banking, Commercial Insurance, Credit Bureau, Credit Cards, Financial Services, FinTech, Life Insurance, Property Insurance, Real Estate Investment
Founders: Unknown
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22. Audsat
The idea behind this startup: Audsat offers credit risk mitigation for rural property owners.
Headquarters: São Paulo, Sao Paulo, Brazil
Industries: Agriculture, Credit Bureau, Geospatial, Risk Management, Satellite Communication
Founders: Unknown
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23. Thrive Network
The idea behind this startup: Blockchain, Credit, Data
Headquarters: Unknown
Industries: Big Data, Blockchain, Credit, Credit Bureau
Founders: Kevin Kong
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24. Canonical Credit
The idea behind this startup: Canonical is rebuilding the global credit system on the blockchain
Headquarters: Unknown
Industries: Credit, Credit Bureau, Cryptocurrency
Founders: Austin Bourdier, David Kuchar, Jonathan Gillon, Malcolm Garland, Ronald Mannak
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