YAY! I have finally got my license and I am going to get a motorbike.
Okay. Apply for a Motorbike loan
Good Afternoon. I am here to apply for a motorbike loan.
Alright. Give me some time to take a look at your credit history.
Jane is a 25-year-old who is excited that she finally got her license and is planning to get a motorbike.
Oh no!
Thank You.
I am sorry Miss Jane due to the lack of information since it is your first time borrowing we will not be able to give you motorbike loan.
Jane is on her way to Bank A.
It states analysis done.
Great. Let me take a look
Bank A employee is doing credit analysis on Jane. The employee had to find Jane's credit history which contains her payment amount amount and consistency on her payments.
Thank You! That was a fast process.
You are eligible for a motorbike loan.
However, due to the lack of information and Jane's lack of credit history, the bank was unable to conduct credit analysis and so could not provide Jane with the motorbike loan she desired. Jane was shocked and upset that she could not get her motorbike loan.
Within 2 minutes the credit score has been updated to the bank platform and the employee could access and see the results.
After taking a look at the credit score, Jane is eligible for a motor bike loan.
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