Nova Credit Announces Eugene Ludwig, Former U.S. Comptroller of the Currency and Managing Partner at Canapi Ventures, Joins Board of Directors

Nova Credit, the leading credit infrastructure and analytics company, today announced that Eugene Ludwig, former U.S. Comptroller of the Currency and Managing Partner at Canapi Ventures, has joined its Board of Directors.

Ludwig brings unparalleled expertise in banking regulation, financial services innovation, and fintech investing to Nova Credit during a pivotal period for the company and the broader alternative credit data industry. His appointment strengthens Nova Credit’s board as the company continues to scale its platform and navigate evolving regulatory frameworks.

“Gene’s addition to our board represents a transformational moment for Nova Credit,” said Misha Esipov, Co-founder and CEO of Nova Credit. “His deep understanding of both regulatory dynamics and the ever evolving needs of financial institutions makes him uniquely qualified to guide us as we scale to serve the largest banks in the world. Gene has spent decades advocating for responsible innovation that expands access to credit while maintaining safety and soundness – principles that are core to our mission.”

As the 27th Comptroller of the Currency from 1993 to 1998, Ludwig oversaw the regulation of national banks and federal thrifts during a period of significant industry transformation. He subsequently founded Promontory Financial Group, which became one of the world’s leading financial regulatory consulting firms before being acquired by IBM in 2016.

Currently, Ludwig serves as Managing Partner at Canapi Ventures, a fintech-focused venture capital firm that invests in companies building technology solutions for financial institutions. He is also founder and CEO of Ludwig Advisors, which counsels financial firms on critical matters, and the Ludwig Institute for Shared Economic Prosperity, which provides real-world economic data to better understand the financial challenges facing American families.

“Nova Credit is addressing one of the most critical challenges in financial services today – the fundamental need to improve on legacy credit scoring systems in capturing consumers’ true financial health,” said Ludwig. “Cash flow underwriting and alternative credit data represent the future of responsible lending. Nova Credit has built the infrastructure, analytics and compliance expertise to make this vision a reality at scale, and I’m excited to support their continued growth.”

Ludwig’s appointment comes as Nova Credit experiences significant momentum with announcements about their work with major financial institutions including Chase, PayPal and Yardi to deploy Cash Atlas™, Nova Credit’s cash flow underwriting solution. “The convergence of regulatory evolution, technological advancement, and market demand has created an unprecedented opportunity for Nova Credit,” said Ludwig. “Their unique position as a Consumer Reporting Agency with deep alternative data expertise positions them to lead the transformation of how we think about credit risk assessment.” 

Ludwig joins a distinguished Nova Credit board that includes Nichole Mustard, co-founder and former Chief Revenue Officer of Credit Karma, reflecting the company’s commitment to assembling industry-leading expertise as it scales its platform.

The addition of Ludwig underscores Nova Credit’s focus on responsible innovation in the alternative credit space. His experience navigating complex regulatory environments will be invaluable as the company continues to expand its platform while maintaining the highest standards of compliance and consumer protection.