Created by: Dave Harland | 7 November 2018

Your questions about FriendlyScore answered

FriendlyScore is revolutionising the way credit scoring is carried out, and while we’re not going to reveal all the secrets of our clever algorithm, we want to explain a little bit about how and why we calculate your score using your data.

Nowadays, everyone has a digital footprint in one way or another. We transform it into your credit score, automatically analysing whatever data you generate at home, at work and in your social life to improve your financial credibility.

We make life easier for those who’ve traditionally found it hard to get access to credit, such as young people, people who’ve never had a bank account, and people coming from abroad and with no credit history in the UK.

Here are answers to the most common questions we’re asked…

Why is my data so valuable?

Lenders want to make sure they are giving loans to the right people. It’s hard without a credit history, so we automatically analyse the data that’s difficult to fake, to prove your credibility and show them you’re not a fraudster.

What data do you need access to?

Through the FriendlyScore app, you can choose to give us access to:

  • Social media accounts to check your activity, friends and followers
  • Photographs to verify your person
  • GPS location to verify your home address and place of work
  • Device details like type of Mobile you use
  • Family and friends to use their creditworthiness to help yours
  • Bank details wherever your bank account is in the world

What if I don’t want to share all my data?

You can share as much or as little of your personal data with us as you like, but the more you share, the more we will know about you, and the higher your score can be. You won’t be scored down for not sharing data – it just won’t count towards the calculation.

Does anybody snoop at my social media posts?

Absolutely not. All of the analysis is done by machines, with no human looking at any data. Our automated system will analyse your accounts mainly to verify you are who you say you are, you live where you say you live, and you work where you say you work.

Will anything I post on social media go against me?

No, nothing you post on social media will negatively affect your score. Most of the data we analyse is to prove you are you, and this will only ever improve your credit score, never lower it.

If you have any questions about the way we handle your data, please contact.