Scotiabank Partners with Nova Credit
Scotiabank partners with Nova Credit to enhance digital credit access for Newcomers
Scotiabank has partnered with Nova Credit to integrate Credit Passport technology into its digital credit card application process, making it easier for newcomers to Canada to access credit from day one.
Permanent residents and foreign workers (in Canada <5 years) can now use their international credit history to qualify for higher credit limits on Canadian credit cards, and streamline their onboarding experience.
So What’s New?
Credit Passport integration into digital credit card applications
Higher credit limits by using global credit data
Digital onboarding for chequing, savings, and credit cards - no branch visits required
Expanded benefits under Scotiabank’s StarRight Program:
No monthly fees on chequing (first year)
No-fee international money transfers
Why This Matters
Newcomers have long struggled with limited access to credit in Canada. This partnership:
Recognizes global credit histories to close the gap
Enables faster qualification for financial products
Supports smoother, fully digital onboarding
Creates a more inclusive and efficient path to financial integration
What This Means for the Industry
For Newcomers:
This creates a faster, more inclusive way to build their financial footing in Canada by using global credit histories instead of starting from scratch.
For the Financial Industry:
It sets a new standard for digital solutions that serve an increasingly global customer base, showing how banks can use technology to meet rising immigration and cross-border financial needs.
By combining innovation with inclusivity, Scotiabank is helping newcomers build their financial future in Canada - faster and with fewer barriers.
