Libra Internet Bank and Mifundo partner to unlock cross-border lending for Romanian expats in Europe

Bucharest, Romania and Tallinn, Estonia, April 16, 2026

Libra Internet Bank has partnered with Mifundo to enable access to cross-border credit data for Romanian customers living outside Romania. The collaboration allows the bank to assess creditworthiness using verified financial history from customers’ country of residence, addressing a gap where data exists but remains fragmented across borders.

Romanian citizens working abroad represent a large and growing segment. Many maintain stable income, active accounts and a track record of responsible borrowing. When applying for credit in Romania, this history is often not visible. Local credit bureau data provides only a partial view or no visibility.

Through Mifundo, Libra accesses a more complete financial picture by combining verified credit bureau data with categorised bank account data. This creates a unified cross-border view of creditworthiness that fits into existing credit processes.

For Libra, this means Romanian customers abroad can be evaluated based on actual financial behaviour. Customers with established credit histories in other European countries can now be assessed on that history when applying for financial products in Romania.

Banks using cross-border credit data see measurable differences in outcomes. Foreign-resident customers assessed on complete credit histories can show risk profiles up to 7 times lower compared to domestic-only assessments. 

This has both commercial and operational impact. Foreign-resident customers typically represent 10-15% of bank portfolios. Accurate assessment enables lending growth without lowering standards, while reducing manual verification and shortening decision times. 

The approach also aligns with the revised Consumer Credit Directive (CCD2), which requires comprehensive creditworthiness assessment, including relevant credit history from other EU member states, and not discriminating against the citizens from other EU member states.

“Mifundo brings real added value to us by providing faster and more accurate access to cross-border data. The platform continues to expand into new countries and add more information, while the team remains very responsive to our feedback and continuously improves the product. The partnership between Libra Internet Bank and Mifundo helps us work more efficiently and serve our customers better,” said Corneliu Toma, Head of Retail Banking at Libra Internet Bank.

“Mifundo specialises in structuring cross-border financial data for credit assessment,” said Kaido Saar, CEO and Co-Founder of Mifundo. “Banks using complete cross-border credit data make more accurate decisions, increase approvals for foreign-resident customers and reduce risk compared to domestic-only assessments.”

As more people live and work across borders, access to cross-border financial data becomes essential for consistent decision-making.

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About Mifundo

Mifundo’s Verified & Passportable Financial Identity is a pan-European credit data infrastructure that enables banks to assess foreign-resident customers using complete cross-border financial data. It also helps banks avoid cross-border fraud. The platform connects credit data from 20+ European countries, covering more than 70% of Europe and combines it with categorised bank account data for consistent credit decisions and provides it to the creditors in one single standardised format. Mifundo is backed by €10 million from the European Innovation Council, which recognises the company as a strategic partner in building Europe’s cross-border financial data infrastructure.

About  Libra Internet Bank

Libra Internet Bank offers comprehensive financial solutions for individuals, with a special focus on Romanians in the Diaspora, as well as products and services for Liberal Professions, Real Estate and Agribusiness companies. Libra Internet Bank is also a partner to some of the most important international fintechs operating in Romania. Libra Internet Bank offers instant payments in both Romanian lei and euros, as well as a generative AI voice-based service in its mobile banking app. Libra Internet Bank has a network of 59 branches in Bucharest and other major cities across Romania. Founded in Bucharest in 1996, Libra Internet Bank is part of the American investment group New Century Holdings (NCH).