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How does the Fincheck process work?

Have you recently applied for a product on Fincheck or want to apply for a financial product but you’re not sure how it works? Below we’ll give you a short, but super sweet overview of how it works when your application is done through Fincheck.

Step 1 – Your application (part 1)

There are a 3 ways how your application ends up being processed by Fincheck.

  1. You apply on the Fincheck website using one of our powerful application forms.
  2. You select a personalised offer on the MyFincheck Dashboard where you can see your unique credit health overview.
  3. You applied on a different website who has partnered with Fincheck so we can help you get the best possible financial product partner.

Step 2 – Your application (part 2)

You applied through Fincheck or MyFincheck

You will need to select an “offer” or “partner” which is a personalised offer based on the details you have given us in your application. After you select your “offer” or “partner”, your application goes into our unique engine. Step 3 will explain the next step.

You applied through a partner website of Fincheck

If you applied through a partner website, your application goes directly into the unique engine built by Fincheck. You can now read Step 3 to understand what happens next.

Step 3 – The magic formula does its work

Once your application enters our unique engine, we work our magic to successfully match you with the personalised offer you selected. If the partner, upon further investigation, rejects your application due to their minimum criteria, we match you with the next best option.

This now becomes the primary partner who will help you with your formal application.

If your application does not meet the minimum criteria of any of our financial product partners, it is unfortunately rejected. In this case, we provide you with our free credit score tool so you can improve your credit health and successfully apply in the future!

Step 4 – Communication updates (part 1)

While the magic is happening in Step 3, you will start receiving email and SMS communication from Fincheck. In these emails and SMS’s, we do our best to provide you with updates on your application, send you helpful resources, products and tell you about our unique credit health tool.

Step 5 – Communication updates (part 2)

As soon as the magic is done in Step 3, you will either receive a call, SMS or email from the financial product partner who successfully accepted your application.

They will now take you through a formal application using the details you have submitted. You will also have the option to change some of the details. For example, the loan amount you require.

Please note: only once the partner has contacted you for the formal application process, will you need to send through your FICA documents.

Most of our partners will send a decline SMS or email if your application was rejected by them. If you do not receive any communication from a partner, you have most likely not been accepted according to the minimum criteria of any of our partners.

Step 6 – Your better financial future

It is the mission of Fincheck to help all our customers become better financial decision makers. This means we want to help you transition from being a borrower, to an investor!

Imagine a world where you don’t need to borrow money anymore! To us, this sounds like the dream. To help you achieve this, we welcome all our users to the MyFincheck experience. A free environment where you get the financial tools you need to build a better financial future.

We will also send you regular emails about financial products, tools, personalised offers and financial news updates.

You are, of course, welcome to unsubscribe from this communication at any time after your application, but we suggest you stay on board for that better financial future 😉

Updated on October 22, 2019

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