When arranging consumer loans, individual providers determine the creditworthiness of clients in different ways. In addition to providing basic personal information, there are, for example, income inquiries, monthly expenses, exact addresses, and more. Many companies check borrowers’ registers and give loans only to those who do not have them, while some credit companies require a crown fee to verify that the applicant has its own bank account.
Most of the time, stricter controls are carried out by banks, while for some non-bank firms, almost everyone who has been at least 18 years old can get at least a small payout loan. Recently, however, interesting information about a brand new method of client screening has appeared in the media.
A new way of screening is planned by Home Credit
Lidove noviny, iDnes, and other Internet news servers have recently brought a very interesting report on a new way to control credit applicants. It is planned for Home Credit, a renowned financial company that has recently renamed and upgraded one of its key products – a non-bank Japanese loan. Since 1 February 2017, it has changed its name to Nevoli and has brought some interesting news, as well as its provision in other countries. Home Credit is also preparing a special mobile application for this loan, which is supposed to include one unusual and surprising feature in the Czech Republic – with the permission of the owner of the phone, he will be able to check the contents of the mobile including his contacts. By checking who has an applicant for a loan in the phone book, Home Credit can reject the loan. It is quite a controversial idea that has never been put into practice in the Czech Republic yet. This idea comes from China, where Home Credit has been operating for many years and where this type of client screening is quite common – there are no debtor registers, so checking the phone content is important in their country.
Will it really be possible to check the phone contacts?
But the question is whether Home Credit will be able to use the same method in the Czech Republic, where the creditworthiness of the applicants has never been verified. In fact, the Office for Personal Data Protection may prohibit the control of phone content. Of course, it is also a question of whether potential clients will agree to check the phone – this will only be possible if they give their consent. But the application has not yet been put into operation, so just wait as its final version will look like. In addition to Home Credit, they are also preparing their applications for mobile phones and other credit companies, it is possible that lending money from mobile phones will become as easy and convenient as negotiating loans through websites on PC.
Nevoli is currently the most advantageous short-term non-bank loan
Regardless of whether the Chinese client creditworthiness test is put into practice or not, the Nevoli loan from Home Credit is clearly the cheapest and also the safest quick and short-term loan on our market. Whether it is the lowest fee that remains the same as the Japanese loan (only CZK 33 for every CZK 1,000 borrowed), easy loan extension, minimum penalties, repayment schedules and fair dealing with all clients. The upcoming mobile app could help make the loan even more comfortable, but on the other hand, phone scans can hurt your business – let’s see how the app will look.