How is Klear assessing if a borrower can repay?

Based on more than 20 years of experience in managing consumer credit risk, we have developed our own algorithm.

Our credit scoring model is using a wide range of data points of the borrower: its socio demographic characteristics, information about its family budget and its credit history.

We use official sources of data to collect or check the information.

  • We connect to the Credit Bureau managed by the Bulgarian National Bank (CCR) which is registering all consumer loans, including mortgage loans issued by banks and nonbanks.

  • We also consult the National health Insurance (NOI) where we can check the salary of the applicant. We also consult the Police register (MVR) in order to check if the ID card is reported as lost or stolen.

  • On top of that we cross check some information by systematically looking at the social medias data and we perform a video call with each borrower in order to check its identity.