The Banks will scan you in only 15 minutes

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Photo: Pixabay

In Credit bureau reports for civilians who are late with their payment are saved for three years.

While the country is trying to get the bureaucracy into the 21st century, the banks are largely at the front of digitalization.  Some are stating that it only takes 15 minutes to let a client know if their cash credit or overdraft have been approved. This means that in short time, they are able to scan the user, more like, to check his debt status within the Credit bureau.

If the fast data verification in this database possible due to data being limited, is a question open for discussion. The fact is, the banks are not even trying to have Credit bureau associated with banks update on the information if the person has been paying bills, says Politika in today’s printed edition.

Source: Politika

Photo: Pixabay