Credit Score Checks: Your FICA and KYC Guide

Direct answer

VerifyNow is not a credit bureau and does not provide credit information, credit scores, credit reports, affordability assessments or loan decisions. A business needing credit information must obtain it through a registered credit bureau and the authorised credit process.

FICA and credit answer different questions

FIC Act customer due diligence concerns the client and the accountable institution's financial-crime controls. A credit score concerns credit information and lending risk. Identity evidence may support both workflows, while it does not merge them. The credit provider remains responsible for affordability and the final decision.

Record the workflow clearly

Keep the bureau result, identity result, affordability assessment and loan decision under separate source labels and timestamps. A successful identity check does not approve credit. A declined application does not invalidate an identity match.

POPIA

Collect credit and identity information for a defined lawful purpose, provide the required notice, limit access and retain it only for an authorised period. Official privacy guidance is available from the Information Regulator.