Quickly arrange a loan in the middle of the night or on Sunday morning? What used to be unthinkable is quite normal today. At any time available credit comparisons on the Internet put an end to rigid opening hours and long waiting periods. No wonder that internet loans are becoming increasingly popular. In the past two years alone, the proportion of online loans has risen from around 20 % to more than 27 % . And there is no end to this trend – on the contrary.
Another boost for loans via the Internet or smartphone experts expect the improvement of virtual identification procedures. So far, loan agreements must still be signed by hand and sent by post, even after online processing. The legally required identification is also not always as quick and easy as desired. Many consumers have to go to the post office for their first loan from a “new” bank to register with their ID. “Post-Ident” is the process used to ensure that the borrower is actually the named person.
However, this sometimes cumbersome procedure could very well be a thing of the past, because the video-identification process is getting better and more reliable. All it takes is a smartphone or the camera of the laptop to authenticate online within seconds. If a process for online signatures such as the digital signature continues to spread, loans can probably be processed completely online in the near future. From the request to the credit check and the completion of all formalities to the payout , it could actually only take a few hours.
This is still a dream of the future in many places, but and its banking partners are already working hard on the new technical possibilities. And even today we can realize loans within a few days. An enormous saving of time for all potential creditors results from the fact that negotiates in parallel with up to 20 different banks . So no one has to make five, ten or more separate requests to find the optimal financing offer. Rather, a single quick online application is enough, and then does the rest.