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.
Blockchain-Based P2P Crypto Lending
We are a leading platform development company for peer-to-peer crypto lending platforms.
Blockchain-Based P2P Fiat Lending
We offer traditional services to help you build your trading platform. Our P2P fiat platform development services are cost-effective, and have been proven to work.
Blockchain-Based P2P Cross Lending Platform
Our cross-lending platform development services for P2P are a perfect blend of traditional fiat currencies with the innovative nature of cryptocurrencies. A cross lending platform is the best solution in the absence of widespread adoption of cryptocurrency.
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
Unique Features Of Our P2P Crypto Lending Platforms
No Third-Party Beneficiaries
Smart contracts are used to execute the loan between borrower and lender on blockchain-based P2P crypto lending platforms. They can interact securely with a blockchain network.
Trusted, Secure
The entire process of lending is automated using smart contracts and pre-defined guidelines. This ensures that the process is smooth and free from errors. The P2P platform offers high security and trust for its users.
Decentralization
Blockchain allows the lender to remain anonymous and not reveal any other information than the initial platform registration. Lenders can choose the type of loan they wish to offer from the marketplace and then conduct the transaction from their wallet.
Loan Origination
Loan origination refers to the entire process of a borrower applying for a loan and receiving funds from the lender. The platform's development will allow it to assist in the origination process through the Peer-to–Peer lending system.
Loan Calculator
Calculating the Equated Monthly Installation (EMI) repayment amount and interest cost using the loan calculator will allow you to calculate the deferred payments loans as well as the interest rate. This allows the lender and borrower to be very clear about what they are willing to pay back and what they will receive.
Credit Score
The credit score of an individual is a measure of financial trustworthiness and repayment capacity. This information will allow the lender or investor to make a decision about the borrower.
Multi-layered Security
The P2P cryptocurrency lending platform was updated with SSL certification and two factor authentication. This allows for secure and encrypted login.
Management of Refinance
If the borrower has paid half of the amount due within the specified time period, refinancing can be a good option. This allows the borrower to obtain a loan from another lender in order to refinance.
KYC and AML
The location-based Know Your Customer (KYC) and Anti-Money Laundering(AML) verification processes verify users' identities. They are used when withdrawing cryptocurrencies amounts to a specified amount or more.
Escrow System
Smart-contract-driven contractual escrow systems automate the locking and release of crypto assets by users for instant and third party transactions.
Hot Wallet
Hot wallet-enabled P2P lending blockchain will enable both buyer and seller to store, send, and receive a range of cryptocurrency according to your transaction in a safe manner.
Calculation of LVR
The loan value ratio is the amount of collateral you have to borrow. LVR calculators can be used to help the lender access your loan application. Both the borrower as well as the lender benefit from this calculator.
Auto-Renewal Loans
The auto-renewal feature reduces the time required to place pending orders into the order book. Instead, the user can toggle between ON and OFF according to their needs.
Terms and Conditions
You can set terms and conditions for the stage and the lending services you offer on the platform to ensure transparency between borrower and lender.
Feedback on Loans
The platform's growth and development is influenced by user feedback. You can provide feedback from your user about loan performance, repayment, and other issues. Lenders will be able to take part in a financing process that offers easy returns and lower risk.
Auto-Investment
This feature is a must-have in any P2P lending platform. It allows the lender to invest in high yield areas while taking low risks. This feature allows users to securely diversify their portfolio.
Lender Management
Lender management systems are used to source potential borrowers. This system requires the applicant's complete application, including details such as loan amount, tenure, KYC score, and CIBIL score. Based on an individual's ability to lend, lenders will request borrower profiles.
Document Management
The Document Management system allows both the borrower as well as the lender to quickly access documents, whenever and wherever they are needed. The borrower can upload the profile and documents to the lender. Before entering into any financial commitment, the lender can also access the potential leads document.
Know your limits
Lenders can limit lending by using this feature, which is based on borrowers' documents such as income sources and tax paid. The borrowers can verify their eligibility for the loan amount. It is determined by the criteria in the loan distribution application.
DashBoard
Each registered borrower and lender can have a dashboard on the P2P lending platform. However, the data that both lenders and borrowers carry varies. The lender's dashboard can show information such as the total amount that was transferred to borrowers. You can view the balance of your wallet and complete repayment statistics for any individual as well as the total payment received.
Leadership
Lenders have the ability to manage leads, create leads and track repayment status. They can also summarize the amount disbursed, the repayment tenure of the borrower, the balance, KYC documents, E Signature, and summarise the amount paid. The lender can make comments or add notes to the lead after a successful deal is closed. This system was created to assist the lender in planning for future investment.
Borrower Management
Borrower Management allows the borrower to submit a detailed application, including all required documents and information in order to be eligible to receive loans. This allows the lender to notify the borrower that they are ready to lend funds.
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.
Features of our All-In-One Administration Panel
Summarized Data Dashboard
User registration data
Total active users
Total transactions
Escrow account
Balance of all cryptocurrencies
Total loans and interest
Funding order management
Summary of trade
Summary of deposits
Summary of the Borrower's Withdrawal
Lending and Borrowing Orders
Lending Management
KPI Finance
Lending KPI
Fees System
Bid history
Real-time reporting
Report on Lending
Rating of the credit rating of Borrowers
Transactions pending
Report on non-performing assets
Profit report
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.
