Could you be denied a loan due your Facebook friends?


There’s an old saying that a man (or woman) is known by the company they keep. Well that quasi-philosophical quote is getting a web 2.0 makeover! Facebook are looking to roll out a new tool that judges whether you’re loan-worthy based on your mates.

What are we talking about?

Well, in 2010 Facebook spent £40 million on a load of patents from Friendster, one of these states:

“In a fourth embodiment of the invention, the service provider is a lender. When an individual applies for a loan, the lender examines the credit ratings of members of the individual’s social network who are connected to the individual through authorized nodes. If the average credit rating of these members is at least a minimum credit score, the lender continues to process the loan application. Otherwise, the loan application is rejected.”

Maybe it’s time to purge the old friendlist?

Don't miss out on the latest social marketing knowledge, news and trends!
Sign up for the Beautifully Social newsletter now!
We'll even throw in an infographic full of social media marketing tips, we're nice like that.

You Might Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>