Mifundo, a Tallinn-based pan-European credit data platform, has partnered with London-based open banking infrastructure provider Yapily to bring enriched bank account data into Mifundo’s cross-border credit assessment ecosystem. Mifundo aggregates verified credit information from European credit bureaus and registers across more than 20 countries, while Yapily’s Data Plus provides categorised and enriched bank account data with customers’ consent. Under the partnership, Mifundo will combine Yapily’s open banking data with verified credit data to give lenders a more complete, standardised view of customers whose financial histories span multiple European markets, reducing the need to collect and interpret information from separate sources.
Europe has 45 million mobile Europeans, and an estimated €719 billion cross-border consumer lending market, yet consumer credit information remains fragmented between countries and data sources. A person may have years of credit history in one country, bank accounts in another and apply for credit in a third. For the assessing bank, building a complete financial picture of that customer can be difficult.
Mifundo addresses this by bringing together financial information from credit bureaus and open banking providers across European countries into one standardised cross-border credit report. Verified credit data is obtained through Mifundo’s network of credit bureaus and registers, while open banking providers give access to relevant bank account information with the customer’s consent.
Yapily is one of the open banking partners contributing to Mifundo’s ecosystem. Through the partnership, Mifundo can access enriched and categorised consented bank account information via Yapily’s Data Plus product and combine it with verified credit data from relevant European markets. For lenders, this means different sources of financial information can be delivered together in one standardised report rather than collected and interpreted separately.
“Cross-border credit assessment requires more than one type of financial data. Credit bureau data shows how a customer has managed credit over time, while open banking data provides additional insight into their current financial situation. Mifundo brings these different data sources together across countries and standardises them into one report that banks can use in their credit assessment. Yapily is an important partner in providing open banking connectivity within that wider ecosystem,” says Kaido Saar, Founder and CEO, Mifundo.
Building pan-European coverage requires strong knowledge of the local provider landscape. Mifundo works with specialised partners based on where they have the strongest expertise and coverage. Yapily’s open banking infrastructure and proven strength in several key European markets as well as their strong SME and corporate account coverage makes it an important partner in Mifundo’s wider open banking network.
“Open banking has an important role to play in making financial data more accessible across borders, and to do that, it needs data that is ready to act on the moment it lands, not a raw feed that still has to be interpreted. Our Data Plus product delivers bank account information already categorised and enriched, complementing credit bureau information and helping lenders build a more complete view of customers with financial histories across different countries. We are excited to be partnered with Mifundo and to contribute to a solution addressing a real challenge for European lenders,” states Irene Brime, Director of Sales EMEA in Commercial, Yapily.
The partnership is particularly relevant as the revised Consumer Credit Directive (CCD2) comes into force across the European Union from 20 November 2026. Article 6 introduces a non-discrimination principle for access to consumer credit, including based on a consumer’s place of residence.
By connecting verified credit information across European markets and complementing it with open banking data from partners including Yapily, Mifundo is building the infrastructure needed to make financial histories more portable and usable across Europe.
Read the orginal article: https://arcticstartup.com/mifundo-and-yapily-partner/
