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Investor Presentation
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Executive Summary• BondoraASisaleadingconsumerlenderinEuropewithsolidtrackrecordintheFinnish,EstonianandSpanish markets
• BondoraCapitalOÜ,awhollyownedsubsidiaryofBondoraAS,operatesapeer-to-peerlendingmarketplacethat allowsinvestorstoacquireloansissuedbyBondoraAS(wholeorfractional)
• BondoraGroupcompaniesuseinstitutionalqualityserviceproviders(KPMG,PwC,BDO)thatprovidefinancialand internalauditingaswellascomplianceservices
• Thegroupcompanieshaveshownexceptionaldevelopmentandhaveestablishedthemselvesasoneofthemain playersinthefast-growingnon-bankconsumerlendingaswellaspeer-to-peerlendingindustries
• Bondora.commarketplaceinvestorbasehashistoricallybeenretailwithover25,000investorsfrom67countries• In2015institutionalofferingwaslaunchedwithcurrentlyoneinvestmentfundandfamilyofficeacquiringissued loans
• Thereisstrongtrackrecorddatingbackto2009withinvestorreturnssignificantlyhigherthanthatofthepeergroup
Disclaimer.ThisdocumentispublishedbytheManagementBoardofBondoraCapitalOÜforinformationalpurposes,solelytoenableyoutogainsomeinitialfamiliaritywiththeserviceofferedbyBondoraCapitalOÜ.Theopinionsexpressedinthisdocumentarethoseheldbytheauthorsatthedateofthisdocumentandmaybesubjecttochange.Thisdocumentshallnotbeconsideredasolicitationtobuyoranoffertoselloraninvitationtopurchase,orarecommendationfor,asecurity,oranyotherinvestmentproductorservice.Theviewsexpressedhereinarenottobetakenasinvestmentresearch,investmentadviceorrecommendation,norwilltheyformapartofanyinvestmentdecisionoranydecisiontoenterintoanycontractofsaleofsecurities.Youaresolelyresponsiblefordeterminingwhetheranyinvestment,securityorstrategyoranyotherproductorservice,isappropriateorsuitableforyoubasedonyourinvestmentobjectivesandpersonalandfinancialsituation.Youshouldalwaysseekyourownindependentprofessionaladvice,ifnecessary.BondoraCapitalOÜnoranyofitsagentsoweadutyofcaretoyou,normakeanyexpressorimpliedrepresentationorwarranty,andnoresponsibilityorliabilityisacceptedbyanyofthemwithrespecttotheadequacy,accuracy,completenessorreasonablenessofthefacts,opinions,estimates,forecasts,projectionsorotherinformationinthisdocumentoranyfurtherinformation,writtenororalnotice,orotherdocumentatanytimesuppliedinconnectionwiththeservicesprovidedbytheIssuer,andnothingshallberelieduponasapromiseorrepresentationregardinganyhistoricorcurrentpositionorfutureevents.Theentirecontentofthisdocumentisconfidentialandsubjecttocopyrightwithallrightsreserved.Youmaynotcopy,reproduce,distribute,transmit(byelectronicmeansorotherwise)ormodifythecontentsinwholeorinpartwithoutwrittenpermission.Byacceptingdeliveryofthisdocument,youacceptthetermsofthisdisclaimerandagree,uponrequest,toreturnallmaterialreceivedfromBondoraCapitalOÜ,includingthisdocumentwithoutretaininganycopiesthereof.Theinitialrecipientofthisdocumentshallalwaysberesponsiblethattheconfidentialityobligationpresentedhereinisdulyfollowed.
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1 Investment Offer
2 MarketOverview
3 InformationonBondora
4 LoanOriginationandServicing
4
Investment Offer
Buy whole loans based on a custom strategy
Passively buy into the entire market
• Investmentproductsaredevelopedtomeetvaryingneedsandpreferencesoftheinvestors
• Bondoraoffersinvestorsalternativestoinvestintoloansthroughdifferentchannels(website,APIorforward-flowpurchaseagreement)
• Investmentpolicycanbetailoredtopurchasewholeloansbasedonpre-definedcriteriaorinvestintofractionalloansacrossthemarket
• Expectedreturn8%-20%dependingonselectedproductandstrategy
Investment methods tailored to investor preferences
Investment offer
Direct investments to loans (Expected return 8% – 20%)
5
Investment Structure
Bondora andits subsidiariesBorrowers Investor
• Investor’sassetsaresegregatedonaseparateaccountincasewholeloansareacquired
• TheaccountissweptdailyforthebenefitoftheInvestor
Loanpurchases(LoanAssignmentAgreement)
Principalandinterest(LoanServicingAgreement)
Loan,lesscontractfee
Principal,interestandBondora’sfees
Structure of investments to loans
6
1 InvestmentOffer
2 Market Overview
3 InformationonBondora
4 LoanOriginationandServicing
7
Our Markets: Economic Perspective• BondoraoperatesinFinland,EstoniaandSpainwithtotalpopulationofover53millionpeople
• Ourmarketsareuncorrelatedbyeconomicperformanceandallthecountrieshaveinvestmentgradesovereignratings
• Finlandwentthroughrecessionin2012–2014andSpainin2008–2014
• Bondorahasbeensuccessfulinthesecountriesinrecessionaryenvironment
• UnemploymenthasbeendecreasinginSpainandEstoniaandisprojectedtostabiliseinFinlandin2016,improvingloanservicingcapabilityoftheborrowers
• Acceleratingeconomicgrowthandexpandingprivateconsumptionareensuringattractiveenvironmentforconsumerlending
Our markets: Snapshot
Population(million)GDP(EURbn)GDPpercapita(EUR) Consumercreditmarket(EURbn) GDPgrowth2016Unemployment2016
Sovereignrating(Moody’s)
5,5
14,1
Finland
207
0,4%
37878
8,8%Aa1
46,1
61,0
Spain
1081
3,2%
23469
18,4%Baa2
1,3
0,8
Estonia
21
1,6%
15769
6,8%A1
Unemployment rateGDP growth y-o-y %Pivate consumption y-o-y %
Spain Finland EstoniaSpain Finland Estonia
Spain Finland Estonia
Sources:FocusEconomics,SEB,EuropeanCommission,ECRI
20162015
2014
2013
2012
2012 2013 2014 2015 2016
18,4%
22,1%
24,4%26,1%
24,8%
8,8%9,4%8,7%8,2%7,7%
6,8%6,2%7,3%
9,0%10,0%
3,2%3,2%
1,4%
-1,7%-2,6%
1,6%
1,1%
2,9%
1,6%
5,2%
4,4%
2,9%
0,3%
-0,5%
0,6%
3,1%
1,2%
-3,1%
-3,6%
3,4%
1,4%
3,8%3,5%
5,0%
3,4%
0,4%0,5%
-0,7%-0,8%-1,4%
8
Market Overview: Consumer loans• ThemarketsBondoraoperatesinareattractiveforconsumerlendingduetolimitedavailabilityofcreditthroughthebanks,causedbytechnologicalandregulatorybarriers
• Consumercreditmarkethascontractedconsiderablyfromtheirpeakwitnessedin2008inSpainandEstonia,buthasgrowninFinland
• Finland,EstoniaandSpainarehighlydigitalisedmarkets,withSpainofferingmostsignificantupsideindigitalconvergence
• Inlinewithadvancementsintechnology,themarketshaveattractedalternativelendersofferingconsumercreditonline
• CompetitiveadvantageofBondorastemsfromprovision ofloanswithclearproductutility,attractiveinterestratesandseamlesscustomerexperience
• Targetednear-primesegmentenablestocoverwidestmarketandwinovercustomersbothfrombanksandpaydaylenders
• Risk-adjustedinterestrates,controlleddefaultsandstrongperformanceinrecoveriesensurehighreturns
Bondoratargetssegmentsthatbankshavedifficultiesreachingdueto
technologicalandregulatorybarriers
Advancedunderwritingenablestoofferbettertermsthanthepaydaylenders
Bondora focuses on near-prime segment overlooked by banks where it has a competitive edge
Interest rates and net returns
Banks Paydaylenders
Cash flow restored(% of planned principal)
2015
46%
2016
51%
2014
46%
Interestrate
Returnnetoflossesandfees
2015 20162014
13,3%
30,9% 36,3%28,2%
11,5% 19,4%
Prime Near-Prime Sub-Prime
9
1 InvestmentOffer
2 MarketOverview
3 Information on Bondora
4 LoanOriginationandServicing
10
Overview of Bondora• Bondorafocusesonunsecuredconsumerlending
• BondoraissuesloansinFinland,SpainandEstonia
• BondorahasprocessedmorethanEUR1.6billionofloanapplicationsandissuedoverEUR 89millioninloans
• Bondorahasallthenecessarylicensesforthemarketsinwhichitoperates;itadherestotheAMLrequirementsandresponsiblelendingprinciplesrequiredbythelawseachrespectivecountry
• In comparison to its peers, Bondora has a solid track record ingenerating returns for investors
• Investors can generate 400 to 1000 basis points of additional yield,depending on borrower credit score grades, without noticeablyincreasing risk
Corporate profile
Expected return by risk grade: Bondora relative to its peer group
Markets
Amount
Averageloansize
Interest
Amortisation
Security
Maturity
Established
Numberofemployees
Auditor
InternalAuditor
2008
38
KPMG
PricewaterhouseCoopers
Loan profile
Finland,Spain,Estonia
EUR500-11,000
EUR2500
Dependsontheborrower’sriskrating
Monthly
Unsecured
3-60months
Sources:LendingClub,Prosper,Bondora
11
History of Bondora
Bondora has been adapting its business so it can offer credit products in selected markets
Foundedin2008
Winnerofthe“BestEstonianE-serviceof2011”award,andaquarterfinalistattheWorldSummitAwards
LaunchofloanproductsinFinlandandSpain,makingBondorathefirstmarketplace
providingcreditseamlesslyacrossmultiplecountries
Bondorasplitsoutandshiftsitsdebtservicingandloanmarketplaceactivitiestosubsidiary
companies
Raiseda€4.5millionSeriesAroundledbyValinorManagement,a
€3billion,US-basedprivateinvestment
firm,whichwasanearlybackerofLendingClub
Rolloutofscorecardandrisk-basedpricingwiththelatterreplacingauction
bidding-basedinterest-ratesetting
Bondorarollsoutthesecondversionofitsscorecardsandrisk-basedpricingrolledout,increasingthe
performanceofFinnishandSpanishmodelsandopensitsAPItothepublic
LoanmarketplaceopenedtoretailinvestorsacrossEurope,making
Bondoratheworld’sfirstcross-borderlendingplatform
Bondorabeginsoriginatingloans
usingitsownbalancesheettocomplywith
consumercreditlegislationacrossthethreelocaleswhereit
operates
BondoraislicensedasacreditproviderbytheEstonian
FinancialServicesAuthority,theprimarylocal
bankingregulatoranditeffendsitsbalancesheet
model
Raiseda€1.3millionseedroundledbyGlobalFoundersCapital,aprivateinvestmentvehicleoftheRocketInternetfounders
FirstversionofBondora’sfrauddetectionprocessimplemented
TheUKFinancialConductAuthoritygrantsBondoraaninterimlicense
BondoraestablishesthefirstNordicmarketplace
lendingplatform
2008 2009 2010 2011 2012 2013 2014 2015 2016
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Competitive Advantages
Bondora leverages its strengths and the assets it has developed over the past seven years to capitalize on a unique opportunity
• Bondora’sfocusoncreatingcost-effectivewaystoservelowerandmiddle-incomecustomersandpaydayloancustomershasenabledittodeliverstrongrisk-adjustednetreturnsonitsloanportfoliowhilekeepingcustomeracquisitioncostsundercontrol
Experience in serving lower and middle income customers
• Bondoraconductsthoroughbackgroundchecksonprospectiveborrowers,includingverifyingtheirincomeandexpenses
• Bondora’sapproachfacilitatesafasterandcheaperassessmentofcreditandfraudrisks,enablingittoofferthemostappropriateloanproductstoitscustomers
• ItsservicingpracticesaffordBondoracompletecontroloveraccountsandhelpensurethatloansarerepaidinatimelymanner
Proprietary underwriting, collection and recovery
processes
• Bondoracombinesuniqueandbest-in-classskillsderivedfromitsexperienceinandtheresourcesavailableacrossmultiplecountries
• BondoraleveragesSwedishbankinginfrastructure,Germantechnologymanagement,Estonianapplicationdevelopmentskills,cost-effectiveFinTechback-officeoperationsandAmericanmarketingknow-how
International business architecture
• Bondorahasdevelopedasingletechnicalplatformthatcanbeusedinanynumberofjurisdictions,regardlessofborrowers’residency,languageandcurrency
• Bondora’sproprietarytechnologyallowsextensiveeconomiesofscale;functionalimprovements,aswellascostsaresharedacrossthemarketsitoperatesin
Single platform for borrowers across Europe
• Bondora’slegalentityisbasedinEstonia,whichhasastrongsovereigncreditratingandafavorabletaxenvironment
• BondorahasaccesstoaqualifiedITworkforcewithexperienceworkingatleadingtechnologycompanies(e.g.Skype,GrabcadandTransferwise)
Advantageous base of operations
13
Management and Shareholders
Management Board Executive team of Consumer Credit
ShareholdersSupervisory Board
Joao Monteiro, Chairman of the Board
Pärtel Tomberg, CEO Kairo Kraaner, Head of Borrower Product Targo Tennisberg, CTO of Consumer Credit
Phil Austern, Board Member
Mati Otsmaa, Board Member
Rein Ojavere, CFO
• ExecutiveatKuehne+Nagel
• PreviouslyresponsiblefororganizationaldevelopmentatLSGSkyChefsandRolandBerger
• FounderofBondora
• PreviouslyresponsibleforBalticregionalmanagementatQuelleAGandHalensAB
• FormerlyBondora’sdigitalacquisitionmarketingexpert
• Hasworkedasadigitalmarketingmanagerandprojectmanageratseveralorganizations
• MajorityofthesharesareheldbyFoundersandPrivateInvestors
• ThelargestinstitutionalinvestorisValinorManagement
• SoftwareArchitectatseveralleadingITcompanies
• SeniorDevelopmentLeadatMicrosoft
• FoundingmemberofValinorManagement
• PreviouslyVicePresidentatFranciscoPartners
• E-commerceandfinancialservicesexecutive
• HasengagedinassignmentsforAmericanExpress,Barclays,Citibank,Chase,Experian,HSBC,HyundaiandProvidian
• FormerlyHeadofCorporateBankingatDNBinEstonia
• HasworkedinassetmanagementandinvestmentbankingatLimestone,Swedbank,EvliandSuprema
Foundersandprivateinvestors
Institutionalinvestors
79,7%
20,4%
14
Company Structure and FunctionsCompany Structure and Functions
All functional units and subsidiaries of Bondora Capital OÜ and Bondora Servicer OÜ are headed by seasoned professionals and supported by experienced development teams
• Borroweracquisitions
• FrauddetectionandKYC/AML
• Underwriting
• Scoringanddatamodelling
• Loanservicing
• Support
• Investoracquisitions
• Investorrelations
Consumer Credit
24 11
Loan Marketplace
Management (2)Front OfficeBack OfficeCollections
HR (1)
Functions
Number of employees
15
Governance and Risk Management
Governance model
Heads of Departments
Management Board
Supervisory Board
Shareholders’ Meeting
Supervisory Board
Management Board
Risk management
• Bondora’sManagementBoardisoverseenandappointedbytheSupervisoryBoard,whichhas,inturnbeenappointedataShareholderMeeting
• TheManagementBoardisresponsibleforday-to-daymanagement
• Bondora’soperationalmanagementteam,whichincludesspecialistsincreditriskassessment,marketrisk,ITsecurity,operationalriskand compliance,isresponsibleforriskmanagement
• Specificriskmanagementresponsibilitiesaredelegatedtotherespectivedepartmentheads,whoreporttotheManagementBoard
• TheSupervisoryBoardfurtherreviewsriskmanagementonaquarterlybasis
• Theinternalauditfunction,carriedoutbyPwC,isdirectlyoverseenbytheSupervisoryBoard
3 L I N E S O F D E F E N C E :
+ ExternalAudit+ InternalAudit
16
1 InvestmentOffer
2 MarketOverview
3 InformationonBondora
4 Loan Origination and Servicing
17
Borrower Profile• ThefollowingaretherelevantstatisticsforloansissuedbyBondorainalltoborrowersinthe2016inallcountriesofoperation
• WeexpectthatthesecharacteristicsarerepresentativetotheloansissuedbyBondoraintheinthefollowingperiods
• Incomeverificationinmorethan60%ofthecases
• Weightedaverageincomeoftheborrowersacrosscountriesisabovethenationalaverage
Weighted average income of the borrowers across countries is above the national average
Issued loan amount (EUR)Income vs. national average Use of loanIncome verification
Incomeunverified
Incomeandexpensesverified
Incomeverified
Weightedaveragemonthlyborrower
netincome
Weightedaveragenationalmonthly
netincome
500-1499 Travel1500-2499HomeImprovements
2500-3499Loanconsolidation
3500-7499 Other
Above7500 Transportation
1291
1473
18
Sourcing and Volume Generation
• Finland,EstoniaandSpainaresizableandhighlydigitalisedmarketswelladaptedtoonlinelending
• LoansofferedbyBondorahaveclearproductutilityinrelationtocompetition,aslongerdurationsenablecustomerstotakebiggerloanswithlowermonthlyinstalment
• TotalmarketofconsumercreditinFinland,EstoniaandSpainisclosetoEUR76billionandannualestimatedturnoverisEUR25billion,withonlyafractionofthemarketbeentappedbyBondora
• Bondoramarketsitselftoborrowersusingacombinationofsearchenginemarketingandtelevisionadvertising
• Bondorainitiatesalsoemailcampaignstargetedatexisting,previousandprospectivecustomers
• BondorahasbeenoperatinginEstoniaover8years,ontheFinnishandSpanishmarketfor3yearsandithasdevelopedanefficientcustomertargetingmodel
• In2016thevolumeofinvestableloansgeneratedinFinland,Estonia,SpainreachedEUR59m
• BondorahasonmultipletimestestedthatthevolumecanbemorethantripledwithoutchangingtheriskprofilewithadditionalinvestmentsdirectedatTVandonlineadvertising
Bondora has developed efficient marketing model to address high volume of potential customers
Split of marketing channels in 2016
Market potential of investable loans (EUR m)
VolumegeneratedbyBondora
25000
59
Totalnewconsumerloansissued/rolledoverin
Finland,EstoniaandSpain
19
Underwriting Process
• Personalinformation
• Contactinformation
• Sociodemographicinformation
• Employmentinformation
• Incomeinformation
• Informationonoutstandingliabilities
• Supportingdocumentation
• Executionoftheloanagreement
• StandardEuropeanConsumerCredit Informationformissigned
• Ariskratingiscalculatedusingallofthecollecteddata
• Variablesareadaptedthroughstatisticalanalysisandscorecardcalculated
• Thescorecardprovidesan estimate of a loan'sprobability of defaultand 12-month firstpayment default
• The Credit team has extensive experience in developing credit models.
• Credit risk-related activities are supported by data engineers, including one who has aPhD in economics, and a PhD candidate in machine learning/computer science.
* BondoraRatingsrangefromAA(thesafestgrade)toF(theriskiest“investmentgrade”rating).Additionally,Bondoraassignsagradeof“HR”(highrisk)toloanapplicationswithanexpectedlossof25%orhigher.
• Alifetimecashflowmodelisconstructedusingtheriskscoringresults
• Theinternal rate of returnis calculated
• Theexpectedreturn andthecreditscoring resultsareusedasinputs forestablishingafair interestrate
• Loan applications areassigned a BondoraRating based on theestimated one-yearexpected loss*
• Emailaddressverification
• Mobiletelephonenumberverification
• IDverification
• Addressverification
• Bankaccountverification
• Dataprovidedbytheborrower
• Dataavailableinthelocalcreditbureaus
• Supportingdocumentssuchasbankstatementsandpayslips
• Informationavailablefromspeciallocaldatasources
• Dataavailablefrompopulationregistryandpropertyregistry
• Behavioraldataavailablethroughthirdpartydatavendors,socialnetworksorserverlogs
Customer applies for a loan
Underwriting is managed by a team of highly
experienced and skilled professionals
Data collection and verification
Identification and fraud detection Risk scoring Loan pricing Loan agreement signed
and loan issuedLOAN
ISSUED
20
Risk Scoring
• Sincelaunchoftheoperations,BondorahasanalyzedloanapplicationswithvalueofoverEUR1,6 billionofandhasdevelopedsignificantexperienceincreditscoringusingthedataithasamassed
• BondorahasdevelopedhighlevelofexpertiseinFinland,EstoniaandSpainwithitsproprietarycredit scoringdatabasethatprovidesinsightintocustomerbehavior
• Bondorausesaninternallydevelopedcreditscoringand pricing modeltocalculateaprospectivecustomer’srisk rating
• Theriskratingiscalculatedusingallofthedatacollected
• Theexactvariablesthataffectcustomer’screditriskratingareestablishedandadaptedasneeded throughstatisticalanalyses
• Thesevariablesmayincludeincomeinformation,employmentrecordsandcredithistoryaswellas marketingandothernon-traditionaldata
• Bondorascorecardsarepreparedbyitsconsumercreditbusinessunit’sscoringandpricingteam
• Thescorecardsareregularlyevaluatedandcalibrated
Bondora has developed high level of expertise in its markets with its proprietary credit scoring
Data collection and analysis
Proprietaryscorecards
21
Recovery Process
E-mailandtext messageswith
upcomingpaymentdetails
E-mailwithupcomingpayment
details
Dailyemail,textmessage,postalletterandautomatedcalls
requestingborrowertotakeimmediateactiontorepaythedebtorto
contactusinordertofindasolution
FINLAND:legallitigationwillbestartedinthelocalcourt.Theprocesstakes
typically4monthsuntilaverdictismade.SPAINandESTONIA:Casehandedbackto
alocaldebtcollectionagency.
FINLAND:Thecaseishandedovertoalocalbailiffafteracourtmakesa
decision.SPAINandESTONIA:IncasetheDCAisunsuccessful,butpotentialrecoverythroughacourtprocedureishigh(e.g.customerdoesnothavemanydebtsandhasassets)thenacourtcase
willbefiledwiththelocalcourt.
Casehandedovertodebtcollectionagents(external,in-houseorbothinparallel)forcollections
Casehandedbackifnotsuccessful.Emailnotifyingthecustomerofcharge-offandstartoflegal
action
Accountindefault.Borrowerdetailswillbepublishedwiththelocalcreditbureau.
Through efficient process Bondora has achieved relatively high recovery rates
Days from payment
Success factors
-7 -1 +1 to +7 +8 +60
+166 to +200+75
+74
Process
Current account
Delinquent account
PaymentsarehandledviaeitherSEPACreditTransfer,SEPADirectDebitTransferoronlinepaymentgateways(suchasTrustly)
• Collectionstrategyfocusesonefficiency,time,quality andcustomersatisfaction
• Bondorahas8-yeartrackrecordinmanagingcollection inEstonia,3-yeartrackrecordinFinlandandSpainand ithasachievedrelativelyhighrecoveryrates
• Earlyinititationthroughremindingcustomersonpaymentsinadvanceandfaststartofcollectionprocessondelinquentaccounts
• Goodcooperationwithlocalcourtsanddebtcollectionagencies
• FastandefficientexecutionofcourtcasesfiledthroughAPIorlocalpartners
22
Traceability and Policy Rules
Credit policy rules are supported with national ID infrastructure ensuring traceability of the borrowers
In Finland, Estonia and Spain traceability is very high due to the linkage between individual’s national ID number and almost all the aspects of public life
• TheBorrowerisaresidentofFinland,EstoniaorSpainandisatleast18yearsold
• Incomeoftheborrowerisatleast€1,000netpermonthinFinland,€300inEstoniaand€600inSpain
• Loanisintheminimumamountof500Eurosandthemaximumamountof11,000Euros
• TheaggregateoutstandingamountofloansissuedbyBondoratothesameborrowermaynotexceed11,000Euros
• Loanhasatermofnotlessthan3monthsandnotmorethan60months
• LoanhasaBondora’sinternalcreditriskratingofAA,A,B,C,D,E,ForHR
• Annualpercentagerateoftheloanatthetimeofconcludingthecreditagreementwaslessthanstatutorylimitsinthespecificcountry
• Loanispaidinmonthlyinstalments
• TheBorrowerhasnoactivedelinquenciesbylocalcreditbureaus
• InFinland,EstoniaandSpaincustomerscanbetracedbasedontheirIDnumber
• Alltheborrowersareidentifiedbytheirphonenumber,addressandbankaccountdata,wherebyidentityandIDnumberarelinkedtotheapplication
• Strongtraceabilityenablestoidentifypotentialfraudandensuresthatdebtscanbecollected
Key terms of the Policy RulesIdentification and traceability of customers
Address change Job change Public
support Healthcare
USE OF NATIONAL ID NUMBER
Tax, police and legal system
Bank, insurance
and payments
Subscription to services
Loans are issued one the basis of stringent Policy Rules of Bondora