Verification of the loan applicant customer

Nowadays, every customer who takes out a loan depends on time. People who reach for quick non-bank loans are usually in a difficult financial situation and therefore need to fund their account as soon as possible. The process of obtaining a loan from a non-bank institution is quick and usually takes no more than several minutes. The verification method offered by the institution plays an important role in the speed of granting cash.

So if you have applied for a loan, you must know that your identity will be checked by the lender. Most companies check their clients’ identities to lend cash to a responsible person who can afford debt and who is not a cheater. We currently distinguish several verifications of our data:

  • Bank transfer;
  • By phone;
  • By courier;
  • By checking in the debtors’ bases;
  • By installing applications.

What does customer verification look like?

What does customer verification look like?

Choosing the right loan is not an easy task. However, when you decide to borrow from a bank or loan company, you must wait yours before the money goes to your account.
Non-bank companies that offer quick cash loans usually require their customers to register on the website by completing an electronic registration form and then verify using the identity verification methods described below.

The most popular way to verify a customer is through a verification transfer. It involves transferring 1 penny or 1 dollar to the lender’s account. The transfer should be made from our own account, because in this way we certify that the account number provided in the documents belongs to us.
Another way to verify your identity is to call a loan consultant. By calling the applicant for a loan, the lender asks you to confirm the details provided in the form. It may also ask for other information about the applicant.

To meet the client’s expectations, loan companies are using more and more methods to verify their identity. In addition to the traditional verification transfer or telephone conversation, we also distinguish the verification of:

Verification by courier takes place when an employee of the transport company provides us with the documents to sign. He asks us to show his identity card and checks whether the form we have filled in contains true data. If everything is correct, he takes the loan agreement we have signed and delivers to the non-bank institution. This automatically transfers the necessary funds to our account.

Loan companies can also verify us by checking the customer in the debtors’ databases. By checking our position in the databases, the institution will obtain information about whether we had debt and how it was or is being repaid. That’s enough to assess the possible loan risk.

In the case of modern methods of customer verification, it is only required to log in to the application using the login details for the bank account. Both Kontomatik and Instantor automatically send information about our payments and the state of the bank account to the lender.

Each of these methods described above is safe and gives the lender a complete picture of our financial past.

Does every company verify?

Does every company verify?

The decision to take a loan is a very serious decision in everyone’s life. The customer must decide which particular loan he wants to use at the moment. However, keep in mind that money won’t get into your account right away. You must first wait some time before a decision is made. This is when the customer is verified.

Verifying the identity of a potential customer is often an inseparable element in the online lending process. Loan companies approach this very reliably, in the end you can take care of your interests in this way. Each client is carefully checked so that the financial analyst can decide whether to grant him a loan or not, however, it will not be a good move. Customers are verified in various ways, eg by bank transfer, telephone conversation and via courier.

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