P2P Lending Software Development Company
Clarisco Solutions is a highly acclaimed P2P Crypto Lending Platform Development company that offers avant-garde P2P lending solutions by utilizing the expertise of our developers. Conquer the crypto marketplace with our cutting-edge P2P lending software.
Peer To Peer Lending Platform Development
Digitization of Medical Records
The practice of lending and borrowing is as old as the invention of money. It still exists and will continue to do so in the future. The concept of funding has evolved significantly over the years, and now, with the help of technology, one can get funds within a few clicks. Blockchain is one such technology powerhouse that is transforming finance infrastructure across the globe.
The blockchain-based Peer to Peer (P2P), lending software, allows two parties to meet their financial needs at a lower cost. It will become a secure and easy-to-use lending system in the future. Our experts can help you launch your P2P lending program using blockchain technology.
White Label P2P Lending Platform development
The practice of borrowing and lending money is as old as investing money. It still exists and always will. The concept of financing has evolved significantly over the years and now with the help of technology you can make money in just a few clicks. Blockchain is one of the technological powerhouses transforming the global financial infrastructure. The newly added white-label peer-to-peer lending software to the system allows both parties to meet their specific financial needs at low cost and without intervention. It will be a very safe and trouble-free lending system in the future. Take advantage of blockchain technology and get help from experts to launch white label peer-to-peer lending software.
Our Business models for P2P lending
Blockchain-Based P2P Crypto Lending
As a leading peer-to-peer lending platform development company, we provide our clients with the tools they need to make their crypto peer-to-peer lending platform a huge success.
Blockchain-Based P2P Fiat Lending
If you are looking for a more traditional approach to building your trading platform, we offer state-of-the-art P2P fiat lending platform development services that are affordable and proven to be successful.
Blockchain-Based P2P Cross Lending Platform
Our peer-to-peer lending platform development services are the perfect combination of traditional fiat currencies and the innovative nature of cryptocurrencies. In the absence of cryptocurrency penetration in the industry, a peer-to-peer lending platform is just what you need.
What is Peer-to–Peer Lending?
Peer-to peer lending is a popular way to get loans that are not available through traditional banks. After meeting the conditions, individuals can borrow the amount from others. P2P lending is a different process than conventional lending, which involves intermediaries such as banks, loan officers, underwriters and loan processors. Lenders and borrowers can now connect quickly at a significantly reduced cost. Smart contracts allow lenders to have the entire process in place and help borrowers get the finance they need faster.
Lenders can earn higher returns on P2P lending than a savings account, which is one of the major advantages of peer-to-peer lending. This process is available to borrowers who do not have the credit score required for traditional bank loans.
Top Reasons to Implement Blockchain in P2P Lending
No-third party or intermediary involved
Reduced processing fees
Quick access to loan than the traditional method
Standardized rate of interest
High-transparency
No hidden cost involved
Smart contract-enabled loans
You can pay interest with cryptocurrency
Higher return on investment
It is easy to connect lenders and borrowers.
A P2P lending platform allows lenders to communicate with borrowers and negotiate the interest rate and repayment time frame
Predominant features of our P2P lending software
Our rigorous research and design-driven approach to P2P lending software development have created an innovative roadmap for creating enhanced white-label peer-to-peer lending software with the following features:
Multi-layer security
We use leading security solutions such as implementing SSL and two-factor authentication (2FA) to further protect encrypted login and user access.
Refinance
The refinancing option allows users of your platform (borrowers) to use their current loan amount to obtain another loan from another lender after successfully paying the current interest on the loan.
Escrow System
A secure deposit system based on smart contracts automates the blocking and release of users' crypto assets, which ensures instant and transparent transactions.
Admin Panel - a Bank in Itself
Enhanced dashboards with fintech KPIs such as financial KPIs, order book KPIs, credit profile KPIs and user activation KPIs allow you to track transactions and measure profitability investment in your ecosystem.
Hot Wallet
Multi-crypto hot wallet integration provides secure storage and instant transactions for a range of cryptocurrencies.
Flexible Interest Calculation
Flexible interest calculation allows you to calculate the interest rate daily, monthly, quarterly, or annually according to your business model.
KYC and AML
Geographical KYC and AML verification processes verify the identity of users and are triggered when cryptocurrency is withdrawn above a certain amount.
Auto-Renewal of Loans
This eliminates the need to manually enter the credit order into the order book, thus speeding up the process. Automatic renewal can be turned on and off according to the needs of your users (lenders).
LVR Calculation
Calculating the loan-to-value ratio (LVR) helps assess risk and enables your users to make more informed decisions when borrowing and lending.
Our Peer-To-Peer Lending Software Features Key Security Features
Data encryption
Our data encryption policy safeguards user credentials and all sensitive information in the database.
JWT encryption
JSON Web token protected against platform manipulation with RSA encryption
Anti-Distributed Denial Of Service
Anti-distributed Denial of Service Protection from Attacks in an attempt to make a machine, network or device unavailable for potential users.
SQL Injection Protected
Protect the platform against malicious inputs from the attackers.
Avoid Self-XSS
This prevents unauthorized access to accounts of users.
Prevention of SSRF
Server-Side Request Forgery is an attack in which users create or control requests on vulnerable servers.
Protection of HTTP Parameters
This prevents the HTTP request to retrieve and access hidden information in the network.
Login Forgery
Registered users can only have one login to the platform. This is to make sure that the user has access to their account securely and to keep an eye on multiple logins.
Anti-denial Of Service (Dos) Attack Protection
Anti-denial service protects the platform from large numbers of requests to server from attackers and ensures that the platform is accessible for intended users.
What is the Process of P2P Lending?
1. Lender Sign up and create a profile
To be able to lend money to a potential borrower, every lender must create a profile.
Personal Information (Full name, Resident Addresses, ID Proof, Contact Details, etc.)
Complete bank account details
Types of Interested Investments & Lending Criteria
2. Borrower Sign up and create a profile
A borrower, just like a lender, must create a profile on the Peer-to–Peer lending platform. This profile should include the following details:
Personal Details
Credit Score
Legal documents
Collateral Details
Third-party Guarantor
3. Borrower starts loan request
The borrower can submit loan requests to all lenders within the network. This is possible with the smart contract.
4. Loan requests are made by the lender.
Once the profile is created successfully, the lender can start receiving information about potential borrowers. The lender can review the profile of the borrower and set up a meeting with them.
5. Matching lender and borrower
The platform's matching engine will help you find the right profile and choose the appropriate lender to close the deal. This secures both the borrower and lender, ensuring a mutually beneficial P2P lending experience.
6. Lenders interact with the borrower
After the lender has selected the profile, he will be able to schedule a meeting or call with the borrower in order to get to know the borrower's purpose and goals for borrowing the amount.
Why would you take out a loan?
Monthly income of the borrower
Credit history
Rate of repayment
7. Smart contract Fixes the Loan Intent
A smart contract determines the interest rate on a loan based on the creditworthiness and lending interests of the investor. Based on the repayment rates, the smart contract helps to categorize the borrower into high-risk, moderate-risk, or low-risk borrowers.
8. The lender sends the loan amount to borrower
The lender can now send the loan directly from his bank account after the process is completed successfully. The borrower will now be responsible for repaying the loan amount and paying the interest rate.
9. Smart Contract-enabled Auto Repayment
The agreed terms allow the borrower to repay the loan amount in a monthly or quarterly installment via a smart contract embedded into the wallet. The smart contract will deduct the penalty amount if the borrower fails to pay the loan amount. The smart contract will sell the collateral if the borrower fails to repay the loan.
Our Admin Panel comprises
Data rich Dashboard
Overview of this dashboard:
Escrow Account
Registered and active users
Balance of all cryptocurrencies
Pending and approved KYC requests
Total loans and interest
Borrow-lend transactions
Lending Management
It comprises:
Fees Management
Loans KPI
Offers history
Finance KPI
Bids history
Order and Funds Management
Provides an overview of:
Trade Summary
Deposit History
Listing of lend and borrow orders
Withdrawl history
Real-time Reporting
The following details can be developed based on the set KPIs as follows:
Revenue/profit report
Balance report
Trading report
Benefits of developing P2P lending software
Affordable price
Ease to use
Agile environment
Secure platform
End-to-end testing
Cloud infrastructure
High Efficiency
Conquesting new territories
Future-proof architecture
Flexible & Scalable.
Clarisco Solution to Develop P2P Loan Platform
It is not easy to develop a Peer-2-Peer lending platform. There are many steps involved, from planning to launch an application on the market. The platform's growth depends on its ability to understand the needs of clients and provide the necessary software solution.
Clarisco Solution employs blockchain professionals with extensive experience to develop your platform. Our team will thoroughly research, evaluate and communicate with you to understand your needs. We ensure that your final product meets all your requirements. Our team will also keep you calm and focused throughout the development process.