SAN
FRANCISCO, April 24, 2024 /PRNewswire/ -- Nuvo,
the fastest trade credit management platform for B2B sellers, has
announced a strategic relationship with Equifax®, a leading global
data, analytics and technology company.
Finance teams using Nuvo can now use
Equifax data to help determine credit terms
Nuvo will leverage Equifax commercial and business principal
information within Nuvo credit application software, streamlining
the customer onboarding, underwriting, and credit approval
processes associated with extending trade credit. Nuvo's suppliers
will also gain the ability to submit their receivables to Equifax
to help their customers build their business credit profile.
Nuvo offers suppliers the ability to issue personalized credit
terms in minutes, significantly reducing turnaround times for
credit approval. Integrating business credit reports and business
principal credit reports from Equifax within Nuvo's secure platform
can enable finance teams to make more informed credit decisions,
while also mitigating risk exposure.
Equifax Commercial Credit Solutions provides firmographics,
credit scores, and payment history for 159 million businesses
covering $6 trillion in total credit
originations. The extensive coverage of U.S. small businesses by
Equifax provides Nuvo customers access to reliable, high-quality
data that enables faster business verification and risk assessment
for this fast growing market segment. The consumer reports on
business principals from Equifax, provided in accordance with the
requirements of the Fair Credit Reporting Act, can also help Nuvo
customers when offering flexible payment terms to newly formed
businesses, or when terms are subject to a personal guaranty.
"The differentiated data resources provided by Equifax will play
an important role to help Nuvo in our mission to support finance
teams turn credit into a competitive advantage and fuel their
company's growth," said Nuvo co-founder and CEO, Sid Malladi. "We are thrilled to work with a
company that shares our commitment to using technology and data to
improve credit workflows in the B2B payments ecosystem."
Nuvo's technology unlocks new growth opportunities for
businesses by expanding customer purchasing power, while also
reducing risk exposure. Finance teams using Nuvo can now use
Equifax data to help determine credit terms, opening up new
opportunities while reducing unwarranted risk.
"In an uncertain economic environment, it's critical that
businesses have access to the data-driven insights they need to
spot hidden risk and make more informed credit decisions," said
Melinda McBride, SVP of Partners and
Emerging Markets at Equifax. "Our relationship with Nuvo will help
make this information even more accessible so that businesses can
continue to get access to the capital and services they need to
grow."
For more information about Nuvo and its credit management
network, please visit https://nuvo.com.
Media Contact:
David Fulham
david@nuvo.com
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SOURCE Nuvo