FAQ

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General

What is the Financial Passport (FINPASS)?

FINPASS is a business software that satisfies the companies’ need to complete compliance checks while better understanding their customers’ financial health instantly.
FINPASS enables users to privately assert verified personal identity information to participating lenders when opening accounts and applying for credit products. It acts as a digital container that holds the results of the deep-dive compliance checks that lenders need to complete when issuing credit products to new customers, as well as the user’s up-to-date financial data. For commercial users, FINPASS additionally contains Sqirl’s proprietary assessment of remaining borrowing capacity.

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What is the purpose of FINPASS to me?

We take your need of having to conduct compliance and creditworthiness checks and assessments and put it on us, to the benefit of your operations.

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Is my company well suited for FINPASS?

If your company is in need of any of the following, then it is for you:
  • Lower onboarding and loan processing costs
  • Lower cost to acquire your customers
  • Faster onboarding times
  • Lower conversation rates for your applications
  • Streamlined access to your customers’ compliance and creditworthiness information
  • Lower compliance costs than current market rate
  • See our video to learn more or speak to a FINPASS rep now by clicking here.

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    How do I get started with FINPASS? Does it take long to start? Is it time consuming because I don’t have much time to spend on this?

    No, it is not time consuming. After one conversation you are pretty much set up if this is for your company or not.

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    Security

    What are your security initiatives with FINPASS?

    Please see our security page for more information on this question or speak to a representative here.

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    Do you adhere to PIPEDA?

    Yes, please see our explanation here. Additionally, we are up to date with the latest in privacy law, compliance and good faith business practices. Here is a blog post on paper on the privacy laws in Europe we adhere to.

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    Product

    What does the FINPASS contain?

    FINPASS is a trusted, secure digital document that holds individual or commercial IDs and one-click easy access to their financial scores, including:
  • ID Key
  • Image of the business owner (for in person verification)
  • Yes/No for identity verification and compliance (KYC/AML/PEP)
  • Personal credit score
  • Commercial credit score
  • Commercial credit limit (for instant pre-approval)
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    How does my company utilize FINPASS?

    We either embed into your technology as a white label or you access FINPASS through our app.

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    How do you get the customers information?

    They give us permission to access their data. More on this when speaking with one of representatives.

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