Borrowers who demonstrate a consistent pattern of non-repayment towards loans acquired from multiple lenders can be reported as bad actors and have their Bank Verification Number (BVN), phone number, and email address blacklisted within the Karma system. This can be configured to implement eligibility restrictions.
Specifically, any borrower found on the database, due to their history as a bad actor, will be automatically disqualified from accessing loans on your platform.
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For example, a borrower who defaulted on their loans from different lenders will have their information stored in Karma, so if they try to apply for a loan on your platform, this application will be blocked automatically.
For more on How the Lendsqr Karma service blocks bad actors and defaulters