Dear all, I've been tracking separately the repayment performance of the members who have joined us under the new Facebook verification requirement, in order to measure whether the requirement is fulfilling its purpose of improving the likelihood that the new members admitted will participate responsibly without needing extensive follow-up. Thus far, 21 members who have been admitted under the Facebook verification requirement have had first repayment installments due over one month ago. (I had excluded from the tracking pool several members who rescheduled their first repayments due to misunderstandings about grace periods or financial setbacks, and also a few who were admitted after the Facebook requirement was introduced but benefited from loopholes in the early version of our verification check and whose FB accounts appear not to be genuine.) As a baseline, I measured on-time repayment rates for first-time borrowers with $100 loans who immediately predated the introduction of the Facebook verification requirement. Of the set of 55 non-Facebook-verified borrowers whose first repayments were due between May 5 and May 17, 25 (45%) were still in arrears thirty days after their first repayment was due. (Many of these have since caught up, but they took more than one month to do so.) Of the 21 Facebook-verified borrowers who have had repayments due one month ago or more, all but two have made their first installment and are current on their due repayments. The resulting on-time repayment rate (90%) is substantially higher than the on-time repayment rate for first-time members with $100 loans who predated the Facebook verification requirement (55%). It is too early to draw any conclusions about the effects of the Facebook verification requirement on repayment rates for larger loans in the longer term, but in the meantime, this early performance data is moving in the right direction. I am attaching the data spreadsheet here, and would welcome comments and questions.