Nuvo, the fastest trade credit management platform for B2B sellers, has announced a strategic partnership with Equifax®, a leading global data, analytics and technology company.
Nuvo will leverage Equifax’s trading and business principles information in the Nuvo credit application software, streamlining the customer onboarding, underwriting and credit approval processes associated with extending trade credit. Nuvo suppliers will also have the opportunity to submit their claims 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 credit approval processing times. By integrating Equifax business credit reports and business principal credit reports into Nuvo’s secure platform, finance teams can make more informed credit decisions while mitigating risk.
Equifax Commercial Credit Solutions provides company graphs, credit scores and payment histories for 159 million businesses, covering a total of $6 trillion in credit originations. Equifax’s comprehensive coverage of U.S. small businesses provides Nuvo customers with access to reliable, high-quality data that enables faster business review and risk assessment for this rapidly growing market segment. Equifax’s business consumer reports, provided in accordance with Fair Credit Reporting Act requirements, can also help Nuvo customers offer flexible payment terms to newly formed businesses or where terms are subject to a personal guarantee.
“The differentiated data resources provided by Equifax will play an important role in supporting Nuvo in our mission to help finance teams turn credit into a competitive advantage and fuel the growth of their businesses,” said Sid Malladi, co-founder and CEO of Nuvo. “We are excited to partner with a company that shares our commitment to using technology and data to improve credit operations in the B2B payments ecosystem.”
Nuvo’s technology opens up new growth opportunities for companies by increasing customer purchasing power while reducing risk. Finance teams using Nuvo can now use Equifax data to 
determine loan terms, opening new opportunities while reducing unwarranted risks.
“In an uncertain economic environment, it is critical that companies have access to the data-driven insights they need to identify hidden risks 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 companies continue to have access to the capital and services they need to grow.”
About Nuvo
Nuvo accelerates B2B commerce by simplifying and securing transactions. With a keen emphasis on speed, efficiency, and visibility, the company offers a platform for businesses to onboard, verify customers, and underwrite trade credit. Its integrated solutions have empowered thousands of businesses, saving time, unlocking growth opportunities, and generating valuable insights to inform decision-making.
Source: NewsJani
