We run identity and soft credit checks with credit reference agencies.
As opposed to a hard check, that leaves a mark on your credit report, we use a soft credit check that is a type of inquiry carried out on your credit report which is not visible to other future prospective lenders. This type of credit check does not affect your credit score or hinder your ability to get credit, it will simply provide us with an idea of your creditworthiness.
We also ask you to connect to your bank via open banking so we can get a full picture of your income and expenses. This enables us to assess your application fairly and to offer our service on responsible terms.
The lending assessment doesn't take long - it's usually processed within a few minutes. Once it is done, we'll notify you in the app when it's done.