Fastest online payday loans

If you need fast money, compare here the best online loans that you can get in a single click and have them in 15 minutes in your account. Discover the best offers of 2018 in online loans on the spot.

The 90s, the prehistory of online loans in the act

Almost 30 years ago, applying for funding was a completely different process from the one we experience now when we apply for urgent online loans. While now we use new technologies before it was totally impossible to get the money we needed by saving the visit to the bank. In the same way, we were not going anywhere without the folder with all the documentation under our arm.

Once in the bank, the financing was obtained by check and not with the almost instantaneous income to our account as it happens now. This document was delivered to the establishment where the purchase was made, for example, at a dealership if we were buying a car. A process that was not only slower but also cumbersome and that could end in falsification or with the loss of it along the way.

The boom of the ‘fintech’ to apply for quick credits

The evolution of technology has given rise to the fact that, in recent years, companies like -PaydayNow-  dedicated to granting loans through the Internet have increased. In the current market, it is possible to find even supermarkets of online loans with immediate response. This adaptation of financial companies to new technologies has made it possible that, if we need urgent money, we can request it in a matter of minutes by accessing a single web portal.

Therefore, if we are thinking of applying for financing, our phone may be the only support we need to request a credit online in a few minutes. In fact, not only is it an option for leading technology companies, more and more banking entities are pointing to fintech.

The verification tools in the quick loans

The time that an entity invests in checking the financial profile of the consumer requesting financing has been reduced considerably in recent years. Technological advances have made it possible for the approval process to be faster and faster and, therefore, we can get immediate online loans.

This is possible thanks to the online verification tools that most of the entities that exist in the market have. These applications are responsible for analyzing the financial profile of the applicant by accessing, with their prior consent, their online banking. Therefore, you can know your income and what your level of solvency is. According to the HelpMyCash data, more than 87% of companies that market online loans on the spot use these methods to expedite the study of the requests they receive. Here are some:

  • Instantor It is responsible for managing the identification, access, and status of our bank accounts. Through its application, the company can analyze all our economic history in a few minutes. In addition, it is also not necessary for the applicant to send documentation to carry out the study of their risk profile.

  • Kontomatik. It works in a similar way to the previous example and is the second most used by lenders. In fact, there are some entities that work with the two that have been mentioned so far to carry out a much more exhaustive analysis.

  • Pich It is the least used tool of the three and has few differences with respect to the previous two. It is also responsible for validating both the account holder and the financial information of the same.

These are totally safe tools that in no case will the lender use without our consent. In addition, all the information that is accessed will be automatically deleted once made to the relevant analysis.

Other sources of information to approve online loans

However, our banking information is not the only source that lenders can go to when we request fast online loans. Because the credit approval processes are carried out without the interested party having to send documentation, the entities can use the Internet to find more information about us.