It is the inescapable requirement that any person who wants to apply for a loan in a bank or lender will go through. The pertinent risk analysis that determines if the operation is viable in relation to the different characteristics of the client. To date, this analysis was based on key issues such as the applicant’s income, working conditions, or the level of debt already incurred. However, in recent years these variables are changing or, rather, expanding. There are already several lenders and entities that recognize that, for example, they use the information collected on social networks when giving approval to operations.
Most used social networks to make the credit profile of customers
Especially by some lenders who operate primarily on the Internet. This is the case of firms such as Kredito24 or Zaimo, which are companies that evaluate in a very short space of time whether or not these operations have the green light. For this they use a system made up of more than 15,000 variables in which social networks play a fundamental role.
And what about the big banks? Although most admit that the risk analysis is based on two key parameters (income and indebtedness), there are those who acknowledge that, in certain cases, the information is completed with public details of the client, such as those collected on social networks, especially Linkedin. “It is not a type of information that is decisive for operations but, in case of doubt, any data that can be obtained publicly and with the consent of the client helps us to the operation”, they assure from one of the main Spanish entities that does not want to be mentioned in these lines. It should be remembered that part of the content uploaded to social networks is public unless the user restricts their access to other members of said network.
Employment position and social status, keys
It does not matter so much the activity that each user has in the network on duty. Neither the interactions (likes, shares) that have your comments or the frequency with which you participate on the Internet. Another song is the friends you have or the groups you participate in. Needless to say, he has his job profile or any clue that reveals his social status.
Although the most common social networks to calculate a client’s credit score are Facebook and Linkedin, these lenders also ensure that data is obtained from platforms such as Twitter, Google+, Foursquare or Instagram. In this sense, they recall one of the maxims that prevail in these analyzes: “the quality of our contacts is more important than the number of friends or followers.” Come on, appealing to the proverb, something like “look who you’re with and I’ll tell you who you are.”