What does Peer to Peer Lending mean?
It is a process of money lending, in which there are two equal parties’ i.e. borrowers and creditors which can be individuals and/or companies.
The P2P system occurs without the intervention of any party in the form of credit providers, banks and other traditional banking organizations.
The lending from Peer to Peer is solely an online platform for collecting loans. Therefore, since there is no idea of any broker, the borrowers are free to choose their debtor.
The idea of P2P borrowing is gaining enormous popularity among borrowers because they earn higher interest rates.
What’s the overview of P2P Lending Software?
P2P borrowing code is supported by sophisticated technologies to curtail the burden of peer-to-peer lending sites. In fact, the technology is important in helping P2P sites outperform their consumers ' standards.
Our excellently-customized P2P loan application engineering platform is an API-based device built to seamlessly integrate with your existing systems. In fact, the software comes with an array of advanced tools that can streamline the whole operation of the P2P network in a cost-effective manner.
In the financial sector, P2P platforms are likely to gain momentum more quickly. Moreover, our infinitely customizable product helps them to widen their borders and contributes sustainable growth to their portfolio without any technical failures.
Apart from all that, the technology is a cloud-based program so that stakeholders and lenders can use anything from anywhere and at any time using a web browser.
Highly secured P2P borrowing technology provides consumers with the best level of security to reduce the likelihood of cyber security attacks.
What are the characteristics of the P2P Lending Software?
When mentioned above, our Peer to Peer Borrowing Platform is a cloud-based solution that lets you leverage the network from anywhere and at any time. In contrast, the other major characteristics of the P2P borrowing platform are as follows:
1. Cloud-Ready Application
With a cloud-based software, the creditor and the borrower may use it from anywhere in the world with a web browser. We are committed to providing protection and ensuring that your information are 100% safe with us.
2. Executive Dashboard
We provide you an organizational portal where you can track the KPI (Key Performance Indicators) of giant corporations. It also offers you a comprehensive picture of the business and how it works against the specified KPIs.
3. API-Based solution
Our platform is entirely based on the Application Program Interface (API), which helps the existing structures to seamlessly integrate with it.
The code is quite cost-effective compared to others. It also provides a more intuitive and streamlined user interface.
5. Flexible and Scalable
The system provides you a completely versatile and adaptive technology that allows customers to diversify, grow and adapt as per their business requirements.
6. Front-end User Interface
The Front-End User Interface is a character trait not provided by all market-based software borrowers. Nevertheless, our P2P technology provides with a pre-built front-end user interface to provide the user with a network where they don't need to spend a lot of time and money building a front-end.
7. Every kind of Loan Product
Including personal loans and home loans through commercial loans, equity loans and bill funding, or real-estate financing, our technology encompasses all forms of credit items.
What are the advantages of P2P Lending Software?
- Fully automated workflow
- For new loan request, Email notification
- Module of Loan management
- Complete Loan Feedback Module
- Simple to configure the loan’s interest loan
- Proper investment and lending management
- Loan calculators enable lenders in determining the total amount to be repaid.
- Perform various operations from user profile formation to loan agreement generation.