Tallinn-headquartered Mifundo, which aggregates credit information across more than 20 European countries, has joined forces with London-based Yapily to strengthen its cross-border credit assessment offering. The partnership brings together Yapily's open banking infrastructure with Mifundo's verified credit data network, enabling lenders to obtain a unified view of customers whose financial footprints stretch across multiple European jurisdictions without having to piece together information from disparate sources.

The European lending landscape faces a persistent challenge: roughly 45 million mobile Europeans operate within an estimated €719 billion cross-border consumer lending market, yet credit information remains scattered across national boundaries and separate data providers. A borrower might have established credit history in one nation, maintain bank accounts in another, and seek a loan in a third—making it laborious for lenders to construct a coherent financial profile.

Mifundo tackles this fragmentation by consolidating financial data from credit bureaus and open banking partners across Europe into a single standardised report. The platform sources verified credit information through its network of credit bureaus and registers, while open banking providers supply bank account details with customer authorisation. Yapily's Data Plus offering contributes pre-categorised and enriched account information that combines with credit bureau records to deliver a comprehensive financial snapshot in one standardised format.

Establishing pan-European reach demands deep familiarity with regional provider ecosystems. Mifundo partners with specialists based on their local strength and reach. Yapily's infrastructure, established presence across several key European markets, and robust coverage of small and medium-sized enterprise and corporate accounts positioned it as a natural fit within Mifundo's broader open banking network.

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.

Kaido Saar, Founder and CEO, Mifundo

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.

Irene Brime, Director of Sales EMEA in Commercial, Yapily

The timing of this collaboration aligns with regulatory momentum. The revised Consumer Credit Directive (CCD2) takes effect across the European Union on 20 November 2026, introducing a non-discrimination principle for consumer credit access regardless of a borrower's place of residence. By connecting verified credit records across European markets and layering open banking data from partners such as Yapily, Mifundo is constructing the infrastructure to make financial histories more transferable and actionable throughout Europe.

Source: ArcticStartup