The first question when you register on any website is how secure is it? When it comes to websites about finance or investments, the desire for security increases significantly. The website that you trust with your money must be safe and verified, and this is exactly what DoFinance is all about. In this blog, we’ll share the security methods used to provide DoFinance users safety and show you how easy it is to make your first investment here.
DoFinance security measures
In 2021 nothing is more important than cybersecurity, as nearly all services are being performed over the Internet. DoFinance has various security measures and risk assessment tools that have reduced potential risks to the minimum.
Moreover, the company grants short-term consumer loans, which also gives certain stability to the risk equation. Compared to long-term loans, it is easier to foresee trends much better. It is simple – if there is a borrower who does not pay back on time, we can easily prevent it from happening again. Thanks to this, we instantly see irregularities, improve risk tools and scorecards regularly, therefore minimizing potential risks.
One of the most common investor’s questions is: Who are the borrowers? What if they won’t pay back the loan? For what purpose was the loan taken out? What if the borrower’s business idea will not succeed? For security reasons and to comply with data protection laws, DoFinance does not reveal the full names or addresses of end borrowers. Nevertheless, investors can see the demographic data of each end Borrower. DoFinance focuses on investing in short-term loans that can be issued to borrowers for different purposes – ranging from personal needs, like home improvement or wedding expenses to business needs, e.g., payment of invoices. If a loan is not repaid in the time agreed in the Assignment Agreement (60 days), the Loan Originator can offer the BuyBack and can pay back to the investor the outstanding principal and accrued interest of the delinquent loan upon the use of its right of BuyBack.
What will happen with the defaulter?
In the event of any default, Loan Originators employ Debt Collection teams that actively collect all overdue liabilities from their borrowers, using tools ranging from sending reminder letters, posting defaulted customer’s information in the credit registers, and, in the case of prolonged non-repayment, proceeding to court claims. Loan Originators ensure the collection process for every loan until it is collected, or the court approves the borrower’s insolvency.
The security of investors’ data
The security of investors’ information and private data (as well as investment risk reduction) is one of the company’s top priorities. DoFinance deploys organized data storage following the highest security standards and relevant Latvian legislation. Under the Personal Data Processing Law and European Union Regulation, No 2016/679 of 27.04.2016, all investors’ personal information is confidential and will not be disclosed to third parties without legal basis.
Why trust DoFinance
DoFinance is trusted by thousands of clients all over the world, and new investors choose us every day due to our excellent service and reliability. We have a great proven track record and continue to do our upmost for our clients and their successful investments. In addition, DoFinance operates a segregated bank account that contains investors received money which is used exclusively for payments to investors and/or transfers to Loan Originators. No other transactions are made from these funds. All operations and processes are transparent and available to each investor on their account, and if questions arise, our managers will always come to the rescue with the necessary answers.
Please note, that all investments contain high risks, and they should not be considered as the main source of income.