Security in Kokos.pl

New tools for verification of borrowers, ePayments and Multi-basket have been made available for the users of Kokos.pl. The implemented functionalities are another step towards the constant development of the first and the biggest in Poland social lending service. 

The range of mechanisms verifying potential borrowers has been extended with yet another 
Economic Information Bureau. Now the Website uses also the European Register of Financial Information (www.erif.pl) and owing to this fact verification of borrowers’ financial record
is far more effective.

What is more, another two tools that is verification of borrowers’ employment status and home address have been introduced. Both functionalities are optional solutions to be used by those who
want generate their credibility with the investors. 

Additionally, the Multi-basket function makes is possible for every user of the Website   to make several payments simultaneously in a quick and convenient way, e.g. making a couple of investments or loan repayments as well as paying for several selected verification services. From now on the users of the Web service can also process quick payments such as mTransfer and PayByLink for Nordea Bank Polska and BZ WBK, and last but not least, another tools for processing ePayments will appear soon.

Since the very beginning of Kokos.pl the Website’s users have given each other loans of the total
of 8,8 million PLN. Kokos.pl is used by over 48 thousand registered Web users. The repayment rate
is continously at the level of 92%. The effectiveness of debt collection actions related to delayed repayments of loans given in 2008 is growing distinctly and for the I quarter of 2009 is 25%. 
The loans given in the last six months of 2008 and in 2009 to borrowers who are marked with minimum three stars in the rating are repaid in full.

As for 2009, kokos.pl’s plans are to maintain its leading position among other social lending services
in the area of security and to win 100 thousand new users.