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tag:Start your application on GoBear.com, then download this app to help your chances of approval. GoBear’s E...
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Start your application on GoBear.com, then download this app to help your chances of approval.
GoBear’s Easy Apply app, powered by Credolab’s technology gives banks some extra info to help them check that you are who you say you are in your application (it’s called “assessing your risk profile” in bank-speak). With that extra info, combined with your application, the bank feels more confident to approve you. Yay!
Yeah… but how does it really work?
Banks traditionally determine your credit score by looking at your repayment history and other financial benchmarks. This view is pretty limited – some people might not have much or any credit history so they miss out on being approved. Using your ,contacts, calendars and storage, Credolab’s technology can predict how likely you are to be a good customer for the bank. So, because the bank or lender has got this extra info to go on, it helps your chances of getting approved.
It’s easy to use
1. Apply on GoBear.com and when you hit ‘let’s go’ on selected personal loan you’ll be texted an application code.
2. Download this app to your phone (Android only at this point – sorry Apple fans!) and enter the application code if prompted
3. Grant the requested permissions
4. In less than 2 minutes the app will create the report and you just have to hit ‘submit’
We’ll then send your report, along with your application, to the bank.
Your data is safe
We don’t give your data to any third party – including the lender or bank! What we give them is a report based on the info you allow us to access on your phone. The report doesn’t have any of your actual data in it.
Who is GoBear
GoBear is an unbiased comparison site that makes it simple for you to compare insurance and banking products to find the one that's right for you. We take all the complicated and, let’s face it, boring information from banks and insurers, make it easy to understand and put it on your computer screen, tablet or phone in a way that makes it easy for you to compare apples with apples. That’s it. No tricks or surprises from us.
Who is Credolab
CredoLab is a FinTech provider of highly predictive, mobile-based alternative credit scoring solutions. Through partnerships with banks, consumer finance companies and retail lenders, CredoLab's goal is to improve the standard of living for people and businesses that have little or no access to the traditional financial system.
Last update
Dec. 1, 2019