In the future, Schufa wants to use an app to inform about negative entries
The Schufa wants to introduce a warning system for its Bonify app, which should inform about negative entries. However, users must first register with their personal data. The backgrounds.
The Schufa is known to collect information about the creditworthiness of German consumers or companies and makes it available to its customers. Once a year, the credit agency issues a free self-assessment. Otherwise interested parties have to look for their Schufa information pay – which most people don’t do because they don’t have a need for it.
For this reason, identity fraudsters in particular find it easy to operate undetected for an indefinite period of time. The Schufa now wants to change that. Because the company wants to introduce a warning system for their Bonify app, which should inform about negative entries.
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Schufa wants to inform about negative entries via the Bonify app
Like Schufa boss Tanja Birkholz in an interview with the Time reported that she herself has been the victim of identity fraud on several occasions. Criminals would have asked for a loan in their name on a comparison platform. Ultimately, she found out about it because she used the Schufa app Bonify use.
Interested parties can get an insight into their creditworthiness in the application. Usually this service is chargeable. Currently, consumers who are newly registering can access their Schufa data free of charge at any time until the end of 2023.
Account data should help in the future when calculating creditworthiness
In addition, Schufa wants to notify app users if they get a negative entry. However, you also have to register in the app to do so.
From 2024, the credit agency is also planning account details Evaluate via the Bonify app to give consumers the opportunity to improve their creditworthiness. In order to achieve this, users must agree in the application that Schufa can access their bank data in order to read and analyze it.
According to Birkholz, the main focus should be on income. “Whether someone donates money to Greenpeace or is involved with a party is irrelevant for the credit rating.”
Association Finanzwende criticizes Schufa
The Finanzwende association reacted to the Schufa plan with criticism. Therefore one should petition with the title “Schufa: Finger off my account” ensure that the credit agency is not allowed to access the account information of third parties – currently and in the future.
The movement is also demanding that Schufa finally make its scoring process fully transparent to appropriate regulators, courts, and expert panels. The public should at least be able to understand which characteristics are included in the scoring calculation.
In the Timeinterview, Birkholz addresses, among other things, the demand that the creditworthiness formula be disclosed: “If all credit agencies disclose their algorithms, we can talk about it.”
The Schufa score is required for many contracts, for example when people want to rent an apartment, conclude a mobile phone contract or open an account. If you have a low score, you can be rejected.
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