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Get In TouchPrime Lenders in the USA approach Suffescom Solutions to create a blockchain based Peer-to-Peer next-gen lending platform. Their requirements are clear; they are looking to create a platform that builds trust and transparency in the lending system.
Being a trusted name in the lending business in the USA. The client wanted to eliminate the intermediaries like brokers, auditors, and loan managers and bring more trust to the system. The client trusted us to build a decentralized P2P lending software where borrowers can directly meet the lenders without any middleman. Thus, bringing more trust and transparency to the system than the traditional lending process.
The client was looking for a fintech software development company to build their decentralized P2P lending platform. In the traditional lending process, borrowers need intermediaries like auditors, loan managers, brokers to meet lenders and borrow money. These intermediaries make the lending process expensive for both lenders and borrowers. In addition to this, the different rates of interest offered by various lenders were a significant challenge for the borrowers.
Our fintech experts understood the client’s requirements and tasks thoroughly. To build a decentralized P2P lending platform, we bought a strategic requirement gathering process in place. Further, our experts planned to add advanced features to the decentralized lending platform.
The first step was to create an easy signup and onboarding process for borrowers and lenders. We designed the signup process super easy for users and with personal information like name, email id, contact number, etc. Advanced features such as find lenders, document management, loan calculation, and user dashboard were added.
The client looks to eliminate the middleman to bring more trust and transparency to the lending system. Our major challenge is to make it easy for users to find the right lenders on the platform. The lenders offer different interest rates; thus, smart search and filters are a much-needed feature to add to the platform.
The Suffescom Solutions team successfully launched the decentralized lending platform for the client within the agreed time frame. Both lenders and borrowers worldwide can register to the platform and take advantage of its features. Within a few weeks of launching, the app has boarded more than 200 financial institutions and lenders worldwide.
The decentralized nature of the platform creates a secure lending process, and the company can keep track of the transactions to stop money laundering activities. The addition of the smart contacts in terms and conditions helps build more trust in the system.
I am pleased with my decentralized P2P lending software and it has been an outstanding experience. When it comes to fintech solutions these guys know how to get things done. Highly recommend it to others!
Prime Lenders
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