In making a decision to extend a loan, the banks in Russia will from now on study the loan applicants’ demeanor on social networking websites, especially their subscriptions to and photographs posted on such websites, according to Izvestia daily of the country.
The Russian National Bureau of Credit History has launched the respective service.
The pilot system has shown that a person’s subscription to network marketing, quick loans’, or anti-collectors’ social networking websites increases risk of nonpayment of loans by two to four times.
But the social networking website users’ positive actions, such as the posting of the photographs of their trips, reduce the relevant risks.
