Not only employers and recruiters, but also banks are starting to use Facebook as a work tool. Soon, the lender will be able to check whether our facebook frends are reliable debtors and on this basis assess our borrowing capacity.
For the bank you are only a number
The bank sends an e-mail and e-mail address by name? Is he preparing you for “special offers”? Offers new services “only for you”? If you think that you really are a flesh, friend and regular customer for the lender, then you are wrong. Our whole life, work, school and family is just a set of numbers and data that allow us to assess our credibility.
The mythical 15 minutes for granting a loan spent with a nice lady in a banking branch is in practice a fight with a soulless machine that, by grinding our data and counting on their basis algorithms, issues a judgment based on the IT system “zero-one”. As it turns out, the equation will soon be joined by … the assessment of our Facebook friends.
A poor friend? Say goodbye to the loan
If you do not have a solid credit history, your chances of favorable interest rates, and sometimes of credit, are very limited. When the history of BIK is modest, the bank will stand on its head to find a factor in assessing whether you deserve cash for new furniture. For this purpose, even our Facebook friend list can be useful – no matter if you recently saw Janell and Franz in junior high school. On August 4, the US statistical office granted Facebook a patent enabling banks to automatically recognize information on the solvency of friends of a social network user.
“Who do you agree to become like this”
In practice, this may mean that a bank using such a service offered by Facebook will be able to reject our credit application on the basis of a low rating of friends. uBorrow loan company is already using a similar solution, although without the official Facebook service. The computer analyzes the network of contacts and assesses creditworthiness on the basis of e.g. the frequency of contacts. Close acquaintance with avoiding paying the installment for a TV set can seriously limit our chances for an apartment or a new car.
Polish borrowers can still sleep peacefully, at least on Facebook. For now, the system will be checked in the United States and in situations where there will not be many other verification options. The system, however, already arouses enormous controversy throughout Europe and for a reason recalls the worst. Who knows if in the future the risk assessment bank will start checking who we meet, what we eat and whether we sometimes think badly about the institution that is supposed to lend us money.