- [email protected]
- +447360500382
Global Office: UK | Malaysia
P2P Lending Software
P2P LENDING SOFTWARE DEVELOPMENT COMPANY
We offer the best P2P Crypto Lending platform development services at unbeatable costs at Blockchain Hat.
Peer To Peer Lending Platform Development
Lending and borrowing has existed since the invention of money. It still exists and will for the foreseeable future. The concept of funding has evolved substantially over time, and now, thanks to technological advancements, monies may be obtained in only a few clicks. Blockchain is one such technological powerhouse that is revolutionizing the global financial system.
Blockchain-based Peer-to-Peer (P2P) lending software is a recent addition to the system that allows two parties to satisfy their specific financial demands without the need of a third party at a lower cost. It will mature into a future financing system that is incredibly safe and hassle-free. With the help of our specialists, take advantage of blockchain technology and launch your P2P lending software
Blockchain-Based P2P Crypto Lending
We provide our customers with the resources they need to get their peer-to-peer crypto lending business off the ground and running to a roaring success as a leading lending platform development firm.
Blockchain-Based P2P Fiat Lending
If you'd prefer to take a more traditional approach to developing your trading platform, we provide cutting-edge P2P fiat lending platform development services that are both cost-effective and successf
Blockchain-Based P2P Cross Lending Platform
Our P2P cross lending platform development services are the ideal blend of traditional fiat money and cryptocurrencies' revolutionary character. In the absence of widespread cryptocurrency adoption, a cross lending platform is exactly what you need.
What Is Peer-to-Peer Lending?
Peer-to-peer lending is a popular alternative to traditional banking systems for obtaining loans. Individuals can obtain the loan amount from other people after meeting the requirements. Unlike traditional lending systems, which involve intermediaries such as loan officers, banks, underwriters, and loan processors, P2P lending eliminates all of the present system’s intermediates. Borrowers and lenders can interact promptly and at a low cost in exchange. Borrowers may acquire the money they need faster, and lenders can have the complete process in place thanks to smart contracts.
One of the key benefits of peer-to-peer lending is that lenders can earn higher rates than they might in a savings account. Borrowers who don’t have a high enough credit score to qualify for typical bank loans can use this method.
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
- Some P2P lending platform allows lenders and borrowers to negotiate the interest rate and repayment timeline
- No hidden cost involved
- Smart contract-enabled loan process
- Interest can be paid out with cryptocurrencies
- Better return on investment
- Easy to connect the matching lenders and borrowers.
Unique Features Of Our P2P Crypto Lending Platforms
No Third-Party Beneficiaries
Smart contracts are used by blockchain-based P2P crypto lending platforms to execute the deal between the borrower and the lender without the involvement of a third party. They can quickly and securely engage with a blockchain network.
Trusted and Secured
With the use of smart contracts, the entire loan process is managed without the need for human participation, based on predefined parameters. This ensures that the procedure proceeds well and that any problems are avoided. As a result, the P2P technology offers its users a high level of security and trust.
Decentralization
The lender can remain anonymous thanks to blockchain, as long as they don't expose their identify beyond the first platform registration. A lender can choose the loan type he or she wants to give from the marketplace and complete the transaction from the wallet.
Loan Origination Process
The loan origination process includes everything from the borrower's application to the lender's disbursement of funds. Our lending platform development will enable the platform to aid in the origination process using a peer-to-peer lending mechanism.
Loan Calculator
The loan calculator will assist you in calculating the Equated Monthly Installment (EMI) payback amount, interest cost, and deferred payment loans, among other things. This makes it easier for both the borrower and the lender to understand what they have committed to pay back and receive.
Credit Score
In the current system, a person's credit score determines the trustworthiness of their financial commitments and their ability to repay them. This will assist the investor or lender in making a decision on the borrower.
Multi-layer Security
We enhanced the security system on the P2P cryptocurrency lending platform with SSL certification and two-factor authentication to ensure safe and secure access with encryption..
Refinance Management
For a borrower who has already paid half of the payback amount within the specified period, refinancing is a beneficial feature. This feature allows a borrower to refinance his existing loan with a new loan from a different lender.
KYC and AML
Location-based Users' identities are confirmed using Know Your Customer (KYC) and Anti-Money Laundering (AML) verification methods, which are employed when withdrawing cryptocurrency worth more than a certain amount.
Escrow System
The locking and releasing of users' crypto assets for instant and third-party transactions is automated using a safe and smart-contract based contractual escrow mechanism.
Hot Wallet
The hot wallet-enabled P2P lending blockchain will allow both the buyer and seller to securely retain, send, and receive a variety of cryptocurrency in accordance with your transaction.
LVR Calculation
The Loan Valuation Ratio is the amount of money you're borrowing as a percentage of the value of your collateral. The lender will be able to access the loan application with the help of the LVR calculator. Both the applicant and the lender gain from this because they may make an informed decision before asking for the loan.
Auto-Renewal of Loans
This auto-renewal function eliminates the need for a user to manually enter lending orders into the order book; instead, the user can toggle between ON and OFF as needed.
Terms & Conditions of the platform
Because the Peer-to-Peer lending application prioritizes transparency between the borrower, lender, and platform, you can create terms and conditions for the stage and the lending service you offer within the platform before they can move further.
Loan Feedback
User feedback is always important for the platform's and features' growth and development. Users can provide feedback on loan performance, loan payback, and other topics. This will enable lenders to participate in a funding process with little risk and simple rewards.
Auto-Investment
This is a must-have tool in your P2P lending platform since it allows the lender to invest in high-yield, low-risk locations. It assists consumers in safely diversifying their portfolios.
Lender Management
The lender management system assists in locating a suitable borrower by analyzing the individual's thorough application, which includes the amount requested, loan tenure, KYC, and CIBIL score, among other things. Borrower profiles will be sent to lenders as recommendations based on their lending capabilities.
Document Management
A Document Management system enables both the borrower and the lender to conveniently access papers as and when they are needed. Most importantly, before getting into a financial commitment, the borrower can submit the profile and papers to the lender, and the lender can examine the possible leads document.
Know Your Limits
The tool will assist the lender in limiting lending based on the papers they have provided, such as their income sources and taxes paid. Borrowers can check their eligibility for the entire loan amount. It is based on the loan distribution application's pre-determined criteria.
DashBoard
In the P2P lending platform, all registered borrowers and lenders can have a dashboard, however the data on the dashboards of lenders and borrowers vary. The lender's dashboard, for example, will include data on the total amount transferred to all borrowers. The balance in the wallet, the specific person's entire payback statistics, and the total payment received for any given person.
Lead Management
Lenders can manage leads, establish leads, track payback status, summarize the amount disbursed, the borrower's repayment period, balance, KYC papers, and electronic signatures, among other things. The lender can add comments and notes to the lead after each successful commitment and closing of the contract. The approach was intended to assist the lender in appropriately planning future investments.
Borrower Management
Borrower Management allows him or her to submit a complete application with all of the essential documents and information in order to be considered for loans. The borrower will be contacted by the lender, who will be ready to disburse funds without any procedural issues.
Key Security Features Of Our Peer-To-Peer Lending Software
Data Encryption
Our data encryption policy safeguards all sensitive information contained in the database and protects users' credentials.
JWT Encryption
To safeguard data against platform manipulation, use a JSON Web token with RSA encryption.
Anti-Distributed Denial Of Service
Anti-distributed denial of service (DDoS) defense against assaults aimed at rendering a system or network inaccessible to potential users.
SQL Injection Protected
Safeguard the platform from malicious inputs submitted by the attackers.
Prevent Self-XSS
This protects from illegal access to users' accounts without proper authorization.
SSRF Prevention
Users create or control requests from susceptible servers in a Server-Side Request Forgery (SSRF) attack.
HTTP Parameter Protection
Prevents the HTTP request of retrieving and accessing hidden information in the network
Login Forgery
A registered user can have access to a single platform login to ensure that the user has secure access to their account and to maintain track of multiple user logins for the same story.
Anti-denial Of Service (Dos) Attack Protection
The anti-denial service protects the platform from attackers sending a large number of requests to the server and ensures that it is available to intended users.
How Does P2P Lending Work?
1
Lender - Sign Up and Profile Creation
- To continue further, every lender wanting to give funds to a potential borrower must build a lender's profile with the following information:
- Information about yourself (Full Name, Resident Address, ID Proof, Contact Details)
- Interested Investment Type & Lending Criteria Complete Bank Account Information
2
Lender - Sign Up and Profile Creation
A borrower, like a lender, must create a profile in the Peer-to-Peer lending network that includes the following information:
- Personal Information
- Legal Documents Regarding Credit Scores
- Complementary Information
- Guarantor from a third party
3
Borrower initiates loan request
The borrower can make loan requests to all of the network’s lenders and advise them of your request, as well as your profile information. This will be made possible through the smart contract.
4
The lender gets for loan requests.
After the lender’s profile has been successfully created, the lender will begin to receive information about possible borrowers. The lender can look over the borrower’s profile and set up a call with them.
5
Matching the lender and borrower
The platform’s matching engine will be programmed to identify the relevant profile and assist in the selection of possible borrowers and lenders in order to finalize the deal. This ensures a safe and advantageous peer-to-peer loan experience for both parties.
6
Lender interacts with the borrower
Once the lender has chosen a profile, he can phone or meet with the borrower to get a better understanding of who he is and why he needs the money.
- Why do you want to take a loan?
- Monthly income of the borrower
- Credit History
- Rate of repayment
7
Smart Contract Fixes the Loan Interest
A smart contract determines the loan interest rate based on the borrower’s creditworthiness and the investor’s lending interest. Based on their repayment rates, the smart contract can also classify the borrower as high-risk, medium-risk, or low-risk.
8
The lender sends loan amount to the borrower
Following the above-mentioned successful completion of the process, the lender can send the loan directly from his wallet. The borrower is now responsible for repaying the loan amount plus interest.
9
Smart Contract-enabled Auto Repayment
A smart contract included in the wallet allows the borrower to return the loan amount in monthly or quarterly installments based on the negotiated parameters. The smart contract deducts the penalty amount if the borrower does not pay the loan amount. If the loan is not repaid, the collateral will be sold on the open market.
Features Of Our All-In-One Admin 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
- Trade summary
- Deposit summary
- Borrower's withdrawal summary
- Lending and Borrowing Ord
Lending Management
- Finance KPI
- Lending KPI
- Fees System
- Bids history
Real-time Reporting
- Lending report
- Borrowers credit rating report
- Pending transactions
- Non-performing assets report
- Profit report
Why Blockchain Hat To Develop P2P Lending Platform?
Creating a peer-to-peer lending platform is not as simple as it appears; it entails a lot of labor, from planning to releasing a product. Most importantly, the success of the platform in the market is determined by understanding the client’s requirements and providing them with the much-needed software solution.
At Blockchain Hat, we ensure that your platform is developed by blockchain professionals with proven experience. Our staff will perform extensive research, examine all elements, and communicate with you on a regular basis to better understand your needs. We ensure that our final product meets all of your business needs and that you are at peace during the development process so that you can concentrate on growing your brand and other business operations.
- Timely Project Delivery
- Through Research & Development
- Experienced Blockchain and smart contract developers
- Customization as per the requirement
- Cost-effective development solution
FAQ
Peer-to-peer lending is a popular way of getting a loan. Without the use of intermediaries such as loan officers, banks, underwriters, and loan processors, individuals can obtain the loan amount from other persons after meeting the conditions. The lender and the borrower can communicate directly.
A lender who has an excellent understanding of the industry and can spot a creditworthy borrower will make a good profit on a regular basis. Lenders benefit from the Peer-to-Peer Lending platform because it offers competitive interest rates.
The peer-to-peer lending network is regarded to be the finest long-term investment option. The loan platform will take advantage of the growing number of consumers who are opting out of the banking procedure. Building a P2P lending platform with the support of white-label solution providers like Blockchain Hat, rather than starting from scratch, will help you make a fortune
In India, launching a peer-to-peer lending network necessitates government certification. A Non-banking Financial Company (NBFC) must be established with a formal company registered with the Ministry of Corporate Affairs (MCA).
P2P lending platforms offer investors higher returns than traditional banks. Borrowers can also get funds faster than they can using traditional banks. The borrower can access the funds with lower fees because there is no third-party involved. In comparison to banks, the P2P network appears to have a bright future.