How is any of this information supposed to secure anything? Name, birth date, address, etc are all public record or essentially public record. The only "secret" piece of information is the SSN, which is (a) public for almost all Americans and (b) specifically forbidden for being used as an identification number.

This is a very 'tech' response in a good way, it made me smile. I think they meant why would a bank give an anybody a loan? You have no way of knowing if an anybody already has a loan out with you and you have no ability to evaluate their risk. Why would you loan money to someone with no ability to review their credit health and financial situation? It's an impossible battle without inventing a user specific metric.

>It's an impossible battle without inventing a user specific metric.

And that's exactly what happens over here. There is no credit score, nor other such bullshit.

You get assessed for viability by proving your current income for last X months depending on the loan.

There also exists a national black list of debtors - but to get there you must really mess up and not even try to pay back your loan.

How do you price your current income with no identifying information is the point that was being made. If you can prove your income then you have identifiers.

you get a standardized form from your employer, or income transactions from the bank. They can use that data internally, but they cannot sell it nor give it to 3rd parties.

ID cards?