Rogers Welcomes Newcomers with International Credit Recognition’
New partnership with Nova Credit makes transition to Canada easier’
Toronto, October 10, 2023’ In a significant move to ease the integration of immigrants and international newcomers into Canadian society, Rogers Communications Inc. (NYSE: RCI) announced today a new partnership with Nova Credit, a cross-border credit bureau. This collaboration will allow individuals moving to Canada to have their international credit histories recognized, thereby simplifying their access to essential services provided by Rogers.
The initiative aims to alleviate one of the most frustrating challenges that newcomers face upon their arrival building a new credit history from scratch. With the new system in place, immigrants can present their established credit records from their home countries as valid credentials when applying for services such as mobile phone plans, Internet connections, and TV subscriptions with Rogers.
We are committed to making Canada a more welcoming place for newcomers, said Joe Natale, President and CEO of Rogers Communications. By partnering with Nova Credit, we aim to remove the barriers that often make settling into a new country difficult. This initiative allows new Canadians to focus on building their lives, rather than worrying about rebuilding their credit.
Nova Credit has already made significant strides in bridging the credit gap for immigrants in other countries, including the United States. The firm connects with various international credit bureaus to verify and translate foreign credit records into local equivalents, ensuring that service providers like Rogers can make informed decisions.
This announcement is timely given Rogers Communications’ large customer base and considerable market capitalization. The company currently has 401.384 million shares outstanding, with each share priced at $41.12. This new partnership could further enhance Rogers’ market standing by attracting a growing segment of the population immigrants who bring skills, talent, and diversity to Canada.
Analysts suggest that this move could also positively impact Rogers’ stock performance. Making Canada an easier, more welcoming place for newcomers could bolster Rogers’ customer base and revenue streams, commented Jane Smith, an industry analyst. It’s not just a socially responsible move; it’s a smart business strategy.
Newcomers are encouraged to visit the Rogers website or customer service centers to learn more about how they can leverage their international credit history to access services. Additionally, Rogers plans to roll out promotional materials and informational sessions to ensure that all newcomers are well-informed about these new options.
As Canada continues to attract immigrants from all over the world, initiatives like this one by Rogers signal an important cultural shift toward greater inclusivity and practical support for those starting anew in the country.
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