[devmor]

Hence, the key word "VERIFYING"

[intended]

These issues are abstracted by the delinquency rate. Some X% will not pay on time.

By reducing the information taken, do we add sufficient additional users to overcome the X% loss expected.

[rafale]

It's a high trust process in a high trust society. Assuming that most people are honest, it works out well. Verification bogs down the process and may discourage people from applying. Clever fraudsters can probably pass that anyway.