Formally, the first non-bank online loan was granted in the United Kingdom, and today they are known all over the world. Only in our country have around 1.4 million customers. In order for them to function so smoothly, it requires quite complicated technology, algorithms, software, etc. The success of online loans is a system that is easy to use for the customer and works flawlessly and extremely quickly. How does the non-banking sector facilitate access to your products?
Online registration form
Customer registration on the loan institution website is usually very simple. A person with a basic idea of using a computer and a web browser should not have a problem with the idea of registering.
Everything takes place online, ie on the company’s website, without the need to download applications or additional programs. The web application is not very different from the paper form. All fields should be filled in by entering personal details, contact details, declaring income source and its amount, and enclosing scans of relevant documents (usually in the form of a certificate of income).
In the bank branch, the consultant is responsible for verifying the client’s personal data. Its task is to compare the data from the ID card to the data entered in the loan application. He also photocopies documents and sends them to the database.
In the system of online loans, as we know, the consultant is missing in the entire process (of course, this is not the rule). Its role is taken over by the program, which is responsible for comparing the data stored in the electronic application filled in by the client with the data of the bank account holder from whom the verification fee was made.
What is such a verification transfer?
The borrower immediately after sending the completed form must transfer the symbolic funds to the account of the loan institution. Since no employee is responsible for verifying your identity and bank account , everything must be done electronically and extremely accurately.
It is important to know that the verification fee must be sent from a personal account, not a company account or shared with your spouse. The account holder must therefore be one person, the same who submits the application. One small mistake is enough for the system to reject the application. Any misspelling or missing data will fail.
No funds for a transfer – what now?
For loan institutions, every problem is basically a challenge. Most of them can be circumvented, all in order to meet the expectations of customers and get them as much as possible.
Some companies have found a great way to attract those borrowers who do not have a penny on their account and can not take advantage of the overdraft. According to the rules, such a person can not register along with a verification transfer.
Bypassing the verification transfer is an application that allows you to send data from a personal account to a loan institution only by logging in to your account using this smart application.
Login time takes as much as usual, the application works online, so you do not need to install it on your computer or phone. It is very easy to use and does not require the client to start working on it. All you need to do is select another type of data verification and choose the application.
Facilitation for customers without a bank account
Data from the National Bank of Poland inform that 1/5 of Poles do not have a bank account, including almost 60% of people over 65 years of age. In the case of these clients, there is no question of carrying out an instant verification, but it is still possible to receive an online loan.
However, the waiting time for money will be a bit longer and will require leaving the warm apartment.
When registering online, please indicate how to receive money in the form of a GIRO check . The check comes to the customer by courier, and the courier verifies the personal data on the basis of the ID card. The check can be made at the Poczta Polska outlet and its validity is usually 7 days. However, it should be remembered that only some companies offer such a method.
Bank account statement and zero scans
Loan institutions want their clients to have the creditworthiness to repay the loan without any problems. In order to certify income, the customer is usually asked to perform scans of contracts or straps from the employer.
Some companies face such difficulties and accept a bank statement if the client does not mind. The statement is usually sufficient for a full assessment of creditworthiness, if only the customer’s revenue is credited to the account. The history of operations gives the view of regularity in paying bills and other obligations. Generating the statement is not difficult and time-consuming, although sometimes it requires contact with a bank’s service office where the borrower has a personal account.
Another interesting facilitation, now only for people with a bank account, is the opportunity to receive a loan at the weekend. The offer is available in a small number of companies and for clients who have a bank account in the same bank as the lender.
Typically, loan institutions have several accounts at different banks to speed up the transfer of funds. Therefore, the chances of compliance by banks are quite large. Thanks to this, even on a Saturday or Sunday, you can quickly receive money and spend it on a newly-searched TV or computer.
Non-bank loans are a very lucrative business. It is no wonder that the lenders are outdoing each other in the facilities so as to get the most customers, especially the regular and reliable ones. Observers of the non-bank sector are curiously interested in the direction of changes and innovations in this business.