At present, it is impossible to meet a person who did not use the Internet, which makes life much easier. According to statistics in social networks alone, today, almost 80% of all inhabitants of the earth are registered. Our fellow citizens are not far behind these statistics and are very actively using various kinds of Internet resources, telling their friends and relatives with their help about everything that is happening to them.
Meanwhile, not only acquaintances, but also financial institutions may be interested in such information if this person turns to them for a bank loan. Certainly, many are now surprised, but this practice actually takes place, of course, it is used as an auxiliary analysis of the client’s solvency and does not have a significant impact on the final verdict, but this point nevertheless deserves special attention.
Screening as a method of working a financial institution with an applicant
Currently, the global network is not a simple means of receiving and transmitting all kinds of information – the Internet is a huge resource that provides an opportunity to get acquainted with one person or another that is called in absentia. In essence, it is precisely because of this that banking screening appeared, which provides financial institutions with the opportunity to verify the solvency and integrity of potential borrowers.
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So, having studied the applicant’s page in social networks in detail, the bank can get information not only about his workplace, study or marital status, but also what valuable property is in the property of the applicant for a loan. You must agree, often buying a new car or other expensive property, we hasten to boast a new acquisition to friends, while social networks allow you to make this process as quick as possible.
Also, by studying a page in a social network, a bank can learn about the financial situation of a potential borrower, for example, by noting photographs from foreign trips that will indicate a person’s ability to allocate decent money for travel. Specialists of the banking organization carefully process all the photos and other information about the applicant for a loan, thereby making up the “portrait” of the client. A bank specialist can get a rough idea of the level of solvency of a potential borrower using data posted on social networks.
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However, this technique cannot be called perfect and it is not always effective, which the banks themselves perfectly understand. You must agree, many people create accounts in social networks, which represent only a projection of who this user wants to be in real life. For example, it cannot be excluded that an old woman or even a man is hiding behind a pretty smile of a young and attractive girl. In addition, some people do not like to parade their own lives and social networks are used exclusively for communication.
At present, few banks use screening for client analysis, usually young financial institutions resort to such a scheme, but this practice still exists, although it is difficult to talk about its effectiveness.
Expert opinion on screening effectiveness
Some financial experts argue that screening is used to analyze potential borrowers to a greater extent with the goal of verifying a real client with a virtual object. As a rule, information relating to the age of the applicant and his marital status is compared. Also, attention can be paid to the formation of a potential client and his place of work, which are also often mentioned in social networks.
There are quite a few financial experts who argue that such a test is ineffective, and therefore it has no promising future. Moreover, this method began to be used seven years ago, however, even for such a long period, he did not have time to gain the trust of financial institutions, and therefore does not have much distribution today.
Such verification of the applicant for a loan is used only with certain credit programs. In addition, it should be understood that no bank will count on such a check, therefore, it will not be possible to avoid an ordinary bank check in any case. Screening is only an auxiliary tool for a banking specialist in assessing the solvency of the applicant for a loan.