Are you in the habit of posting every little detail of your life on social media? Next time, when you apply for a loan, this may impact your chances of getting it. Your posts, likes and comments, updates about your holiday trip, selfies and family pictures, your take on controversial subjects will come into play to mark you as worthy, risky or not worthy at all for the loan.

According to Vinay, co-founder and chief operating officer of Faircent, social media posts help in knowing persons better but is not a comprehensive data provider. The company also looks at apps. “If someone goes on a morning walk, it is an indication that he takes care of himself and is disciplined. This is positive from lenders perspective and such customers stand to get higher loans, lower interest rates or both,” he says.

Its system can also read financial data, bank account details, credit card transactions. It deciphers spending and consumption patterns. Closeness to family is a positive. However, influential people on the friend list can be a negative.

“In some cases, the borrowers are given a questionnaire to collect psychometric data. The responses to these will give an idea about the mindset to repay,” says Vinay adding that social media data is of no use unless matched with a primary data. Hyderabad accounts for 7 per cent of its total lender and borrowers. The loan size is Rs 5,000 to Rs 5 lakh. It is looking to offer recharge loans of Rs 500.