Mifundo, a Tallinn-based fintech building cross-border credit data infrastructure, has partnered with Romania’s credit bureau Biroul de Credit to give European banks secure access to verified Romanian credit histories when assessing customers living or borrowing abroad. The partnership aims to reduce the number of “thin-file” applicants—borrowers whose financial records are fragmented across multiple countries—by enabling consent-based, GDPR-compliant sharing of Romanian credit data through Mifundo’s platform. By combining Biroul de Credit’s domestic credit records with Mifundo’s network spanning more than 20 European countries and over 70% of the continent, the companies seek to help lenders make more accurate cross-border credit decisions while lowering risk and improving financial access for Romania’s large diaspora.
Mifundo develops infrastructure for cross-border credit data sharing in Europe. Its platform enables banks to access verified credit and financial data from more than 20 European countries through a standardized format, supporting credit assessments for customers with financial histories across multiple jurisdictions. The company operates under the supervision of Estonia’s financial regulator and focuses on consent-based, GDPR-compliant data exchange for cross-border lending.
“Many cross-border customers are treated as thin-file applicants because parts of their financial history sit outside domestic bureau systems,” said Kaido Saar, Founder and CEO of Mifundo. “As cross-border banking grows across Europe, banks need infrastructure that supports both responsible lending and strong compliance standards. Our cooperation with Biroul de Credit supports secure and transparent access to verified credit data from Romania while maintaining a strong focus on customer consent and data protection.”
Biroul de Credit, the dominant and historically established banking credit bureau in Romania, and Mifundo have entered into a cooperation agreement to help European banks assess Romanian customers who are often treated as thin-file applicants despite having established financial histories in Romania. Through access to verified Romanian credit data and financial histories, European banks can assess Romanian customers whose financial history is fully or partly outside the country more accurately and with up to 7x lower risk using cross-border credit data.
Cross-border data access through the Mifundo platform is based on customer consent, GDPR-compliant processing and secure data exchange aligned with European regulatory requirements.
“Romania has one of the European Union’s largest diaspora populations, with millions of Romanians living and working across Europe,” said Cristian Racu, CEO at Biroul de Credit. “Banks increasingly need secure and compliant ways to assess customers whose financial histories span multiple countries. Our cooperation with Mifundo supports responsible access to verified Romanian credit data while maintaining strong standards for customer consent and data protection.”
Read the orginal article: https://arcticstartup.com/mifundo-partners-with-biroul-de-credit/
