Why that Facebook post may give or deny you a loan

Each time you browse the internet, connect with friends, pay power bills, make purchases or check your bank account using your smartphone, it is collecting mountains of data about you. Silicon Valley-based company InVenture is using this data to determine if you’re creditworthy.

Shivani Siroya CEO and founder Mkopo Rahisi App. [PHOTO:WILBERFORCE OKWIRI/STANDARD]

By glancing through someone’s phone, InVenture’s app accesses data to uncover behaviour that correlates with the likelihood that a borrower will repay or default on a loan. The app analyses information stored on the mobile phone, including the content of their text messages, emails, facebook or twitter updates and even the frequency of calls.