The woman was surprised by the data exchange: without lending to one credit company, the other called herself

He described his situation on a social network. “As soon as the data was collected, I used the Creditinfo service and limited myself to quick loans. I did the exact same thing at the central bank with regard to consumer credit,” he said.

“To see how it works, I filled out a quick loan application from one of the companies. Today, another fast loan company calls me and offers to lend me the amount I want because I see that they did not give me a loan. Still, how does that self-delineation work? I have never used the services of this type of company ”, considered the woman.

She checked the box herself

As Darius Noreika, Finbee’s CEO, told Delfi, they are working with Credit24 to make loans to clients who have been unable to make loans.

“When a client submits a loan request, it is possible to consent to the transfer of personal data to Credit24 partners on our platform. To express consent, the client marks the consent:

“By checking this box, I agree that, in the event that my application is rejected through the FinBee mutual loan platform, the company that manages the platform, Finansų Bite, will transfer my personal data to the consumer credit provider and to the brand Credit24. In order to assess the solvency of IPF Digital Lietuva and, if possible, present a financing proposal. I also accept the detailed conditions for the processing of my personal data in this case, which are set out here. We would like to inform you that you have the right to object to the specified transfer and processing of your personal data, ”he said.

D. Noreika emphasized that the data is transferred to the Credit24 partner only with the consent of the client.

“To ensure that we do not violate the legal acts in this place, we have coordinated the business model with the State Data Protection Inspectorate.

According to the requirements of the Bank of Lithuania, it is prohibited to grant a loan to people on the Stop Consumer Credits list. However, after receiving an application from a listed person, the law does not prohibit you from evaluating and submitting a loan offer. The list currently managed by the Bank of Lithuania depends on the internal processes of each creditor. In the case of Finbee, the list of the Bank of Lithuania is verified before the loan is disbursed. If the client is established on the list, the loan agreement with him is not concluded and the application is rejected.

However, if the creditor granted a loan to a person included in the list, that contract must be considered void and the person must be released from the obligations of the contract. We have not come across such a case in practice, but it is likely that even if the creditor went to court with a request to award the amount owed to said client, the court would reject the request because the creditor was unable to enter. in such an arrangement at all, ”he explained.

For his part, Rūta Mylė, CEO of Credit24, also pointed out that the choice to transfer your data to another company of Finbee clients is not automatic.

“It just came to our notice then. However, when contacted by our customer service employees, the user did not want to complete the request, so the procedure was terminated and we did not verify the data. of the user in the records of the Bank of Lithuania and our partner Creditinfo.

In other cases, when customers continue to apply with us, these records are reviewed each time and, if any, the application is rejected. This would also have happened in this case, if the client had agreed to complete the request in our system.

In the context of recent events, we want to emphasize that it is not possible to take out a loan in our company with foreign data. The entire financial market is strictly regulated by the Bank of Lithuania, so without proper identification of the client, proper solvency assessment (using all possible sources to be verified) and compliance with the requirements of the Prevention of Money Laundering, there will be no possibility. borrow from honest credit institutions, ”hee said.

Check must

Representatives of the Bank of Lithuania informed Delfi that, according to the Consumer Credit Law, all companies offering consumer loans in Lithuania (banks, credit unions, mutual loan platform operators, other credit companies) before entering into an agreement.

“Consumer creditors can refer to this list at any time prior to concluding a consumer credit agreement, so they may verify this list during the consumer creditworthiness assessment. If a consumer credit agreement is signed with a person who is on the Stop Consumer Credit list is considered invalid. Failure to meet the requirement to verify that a person is not on the Stop Consumer Credits list puts the creditor consumer at risk of up to 5%. Gross income penalty annual.

The main difference between entering the list of “Stop consumer credits” and “Creditinfo” is that the Bank of Lithuania has this function entrusted by law and consumer credit providers are obliged to check whether a person who wishes to borrow does not is on this list. In the case of Creditinfo, meanwhile, there is no such obligation, the use or not of this database depends on the agreement of the consumer creditor with Creditinfo, says the comment.

Ieva Kutkaitė, Creditinfo’s marketing director, said that before making a credit decision, financial institutions automatically or manually verify a person in the credit bureau system and verify that the person is not accredited.

For him, a special record is created in the system over the 100 million available. therefore, make an appropriate decision. However, the additional communication of a financial institution with a non-creditworthy customer, communication of services or new products is its own internal solution.

Creditinfo operates in accordance with the law, and the Protect Your Identity service has been developed based on the needs of creditors and consumers and the individual consent of each of them.

It is convenient for clients to obtain all the information on solvency in one place, so all financial institutions use the credit bureau system to assess the solvency of the population. At that time, it is also convenient for residents to receive a comprehensive package of services in one place: receive a report on their credit history with a credit rating, order event monitoring, protect their identity or decline credits, “he said. explained.

According to the data from the Registry of Legal Entities, the shareholders of Finansų Bite (through the Turtai company) are Mr. Noreikia and Giedrius Kolesnikovas (through the ZSC Techteam and SV Asset Management companies). In 2019, the company received 1.4 million. Income and Obtained 162 thousand. EUR net profit.

The shareholder of IPF Digital Lietuva is IPF Digital AS, registered in Estonia. In 2019, the company received 22.8 million. revenue and earned 5 million. EUR net profit.