The profile in social network says a lot about its users. The banks of the future could therefore make lending to digital profiles, says an expert on financial technology. And that’s not all.

Soon decide their own profile on Facebook, Linkedin and Co. on whether someone gets a loan or not? This scenario holds financial technology expert Gi Fernando probable, as the British newspaper Daily Mail reported. Banks could for example apply for access to the Facebook account of their customers to check there if they have a stable network of friends and contacts. This would give financial institutions an indication that the credit risk less pronounced than in the case of users who frequently change their friends in social media.

The individual is defined by the management, he maintains, “says Fernando. “By giving the customers their banks a little more information, they could benefit from a wider choice of products.”

The people without a presence in social media is increasingly becoming a minority. However, what makes someone in Fernando’s digital future, does not have a Facebook account and do not want to set up? The bank customers without digital profile could be disadvantaged in lending, says the expert. To know that the behavior on Facebook and can affect access to credit, but would also change the social interaction itself, critics fear. Do I have to keep friends and contacts, so as not to be considered fickle and volatile?

Technological advances may the retail bank, according to Fernando’s predictions but even more personalized in other respects: So is conceivable that banks soon replace credit cards through smartphones, which are held for payment against readers. “Apple operates with EasyPay already such a system. It will scan the barcode with your phone just a product that you want to buy, and in one second it heard one. “But for even more likely he holds that customers pay with biometric data such as iris scan or a fingerprint, as cards or smartphones are stolen or could be lost. Fernando also predicts that more banks seek proximity to their customers and branches will open in cafes and supermarket chains.

The money houses are in his opinion already under great competitive pressure. Providers such as Ebay, which announced last month, offering hundreds of thousands of small businesses in the UK financial services compete with traditional money worldwide. Banks are therefore forced to quickly implement innovations.

Gi Fernando is likely to change this way also have a vested interest: The 43-year-old founded two years ago the company “Free: Formers”, which offers, among other digital training for banks. Therefore, he also emphasizes how important it is that companies, including banks, their employees attend training courses the skills they desperately need for the digital future.