What to keep in mind when providing personal information to a digital lender

Howdy there Rockstar!

We understand that sometimes you feel you can’t afford to wait, but if it affects your safety, it’s worth waiting for. Whenever you want to provide a digital lender your personal information, we advise that you take a minute to breath, shake off that anxiety and keep these few things in mind.

A secure connection is very important when doing any kind of online transaction as it prevents your accounts from being hacked and causing you to lose sensitive personal data.

Your browser plays its own role in defense as modern browsers are designed to detect and block access to unsecured websites. However, you should still take extra care to make sure you are safe. Here’s how to spot a secured website; look for a padlock symbol in the browser’s address bar and “https” in the URL. These red flags serve as a website’s mark of legitimacy, letting you know that the website you’re visiting is trustworthy and not a scam put up by online thieves.

When working with digital lenders, you may start protecting your personal information by being aware of these visual clues and insisting on a secure connection. It pays to take precautions to safeguard your sensitive information and online financial transactions in this day and age.

It’s essential to make a conscious effort to only do business with well-known, trustworthy lenders when providing personal information to digital lenders. Considering these reputable lenders have been around for a while, it’s more likely that they have strong security measures in place to protect your private information.

It’s important to keep in mind that these lenders are usually subject to financial authority monitoring and have an interest in protecting the information of their clients. This adds another layer of security and accountability to your transactions. Selecting reputable lenders gives you the security of a reliable and accountable financial partner throughout your digital lending experience, in addition to improving your own data safety. Read more on how to spot responsible lenders.

When sharing personal information with digital lenders, it’s important to create accounts on loan websites with safe and unique passwords. Passwords should be made up of letters, numbers, and special characters (symbols) to make them hard to guess. It’s also a good idea to change your passwords regularly to reduce the risk of illegal access to your account.

Enabling two-factor authentication adds an extra level of security by requiring not only a password but also a temporary code or biometric verification before granting access to your account, making it much more difficult for potential cyber threats to compromise your sensitive financial data. Make it tough for these bad guys.

###Verify legitimacy Before sharing personal info, verify the legitimacy of the website and lender. Check for customer reviews on the App store or Play store, official contact information, and physical addresses.

Take the time to thoroughly examine the loan’s terms and conditions. Consider the interest rate, repayment timeline, and any hidden fees. Knowing the fine print will allow you to make an informed decision while also protecting yourself from surprises.

Also, think about setting up a different email address and bank account for your online loan activities. This not only gives an additional layer of protection, but also simplifies your financial management by keeping your digital lender interactions separate from your personal finances.

Constant vigilance!

It’s highly important to be vigilant while dealing with digital lenders in order to protect your personal information. Unsolicited loan offers that come through as an SMS or any other form of communication can be a warning sign.

Therefore, it’s advisable to take proactive control of your financial decisions by initiating loan applications through established and trusted websites. By doing this, you lower your chances of becoming victim of a scam and keep your sensitive information out of the wrong hands.

Sharing your personal information with people who truly need it is important when working with digital lenders. This involves sharing information such as your name, contact information, and financial background (BVN, bank statements and the likes) while remaining cautious not to give out too much.

Remember that sharing more information than necessary can put you in danger of identity theft or fraud. So, before you offer any information, consider and confirm whether it’s directly relevant to the lending process and if it’s absolutely necessary to share. Keep your eyes peeled out for any foul-play

Check out Irorun to see how secure our website is and send us a message at support@irorun.com to get paired with a loan that’s the right fit for you.