The borrower's personal identification number and validity of the document are verified from the respective national databases. The loan application in Estonia should be signed with ID card, which provides sufficient evidence of identity.
The applicant is checked in the Creditinfo databases and customers with active payment defaults are not allowed to the auction, completed payment defaults are displayed with the application in the portal.
Incomes and existing financial obligations of the borrower's are checked from the borrowers' account statements (6 months). The employer declared by the borrower must have made salary payments to the applicant's account in the amount as declared on the application and the debt payments must match the applicant's existing loans recorded data.
On the loan auction under the assets and liabilities next to the income row (e.g net salary) of a borrower there are two possible letters - A or M.
A means that the income is checked automatically, M means manually.
Estonian customers' income is verified through the pension registry data.
In addition there is under the assets and liabilities of a borrower "Income verification" with 5 possible options:
1. A - 90% of the income is verified.
2. B - 51-90% of the income is verified.
3. C - 10-50% of the income is verified.
4. D - less than 10% of the income is verified.
5. N/A - it is not possible to verify income.
Investors have the opportunity to find borrowers with different income verification symbols/letters:
1. on the loan auction ("Loan auction" -> "Show filters" -> "Show additional filters" -> "Income verification");
2. while making an Autoinvest ("Autoinvest" -> "Configure autoinvest" -> "Show additional filters" -> "Income verification");
3. from the investments list ("My investments" -> "Investments list" -> "Show filters" -> "Show additional filters" -> "Income verification").