Quick answer: A lender may need identity and financial information, but every permission should have a clear purpose. Avoid apps that demand unrelated access without a convincing explanation.
Potentially relevant data
Identity documents, address, income, bank transactions and payment-account details may support underwriting or servicing.
Potentially intrusive permissions
Contacts, call logs, photo libraries, precise location and messages deserve special scrutiny.
Before consenting
- Read the privacy policy.
- Identify who receives the data.
- Check retention and deletion procedures.
- Understand whether bank credentials are handled by a third-party connection service.
- Use a unique password and multi-factor authentication when available.