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I work in the credit finance space. The first thing that jumps out to me is the security and privacy of people's credit data details. There is a lot of personal information that could be used for stealing one's identity. What assurances are there that this data is protected and anonymous?

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Stealing someone's identity is much harder with the data that schufa has.

And stealing identity isn't really a thing here. Like to open a bank account you still need to go to the post office with your ID which they then confirm, so knowing the things that schufa knows won't get you far.

As far as I understood it credit data companies in the US have a lot more info. Schufa has very basic things: "Opened account at X bank", "Got approved loan of 10k", "Signed a phone contract".

They don't have any insight into loan payments, individual transactions, or anything else really.

The data and credit scores are sent from the credit score agencies to each person directly (via snail-mail). After that they can decide to upload their "anonymized" data or not. In order to develop a privacy focused uploading process we started the crowdfunding campaign.

So you don't just need my data, you also want my money. Great! (sarcasm in case it's not clear)

It's almost as if some things are hard and need funding AND help. Who would've thought?

You are welcome!

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