Digital lending in P2P economy
“Banking is necessary, banks are not,” said Bill Gates in 1994. The same attitude drives challenger banks and tech-savvy startups in their efforts to end the dominion of incumbent financial institutions, burdened by legacy software and outdated underwriting systems.
The growing demand for financing is unlikely to be satisfied by traditional banks, with their time-consuming application processes and strict eligibility criteria. The sharing economy and peer-to-peer models are finally given a chance to offer a long awaited alternative.
Lending software development services
Aiming high? You’re in good company!
Introduction to digital lending solutions
This type of products responds to the needs of businesses that seek financing, but conventional bank loans are not an option they can (or want to) rely on. Connecting investors and companies through crowdlending platforms has created new opportunities for businesses of all sizes and industries. P2P lending software gives them a chance to bring their fund-worthy ideas to life, while potential investors can in turn build diversified portfolios and benefit from attractive interest rates.
Unsteady cash flow caused by delayed payments is every entrepreneur’s worst nightmare. Many small and medium businesses have to face it on a regular basis. Invoice financing (or accounts receivable financing) resolves this issue by lending money against the amounts due from customers or debtors. Extra funds can be used to fill the gaps in cash flow or reinvested in growth, while the borrowing fee is typically calculated as a percentage of the invoice amount.
The amount of loan offers available on the market can be overwhelming or confusing, making it difficult to choose the best option. Sooner or later, tech-savvy FinTech founders had to come up with a solution to this problem by introducing comparison platforms. They often combine the power of Big Data technologies and Machine Learning (in features such as recommendation engines) in order to deliver valuable, personalised search results for individual and business users.
Digital lending would be crippled without tools for assessing creditworthiness. New FinTech players specialising in predictive analytics often leverage data sourcing through automated APIs, feeding their scoring models and risk profiles with relevant data inputs, such as financial history, macroeconomic variables, and qualitative information. Some can even be connected to your accounting software to monitor credit scores, automate updates and set up early warning indicators.
LendTech in focus
Apt software architecture and secure back-end paired with reliable API integrations can significantly boost your loan processing potential. Competing on the market of digital lending solutions also means investing in speed. Fast digital onboarding can replace time-consuming manual customer verification. Accuracy is just as important. Top LendTechs spare no efforts to build unbiased analytical models, leveraging Big Data and Machine Learning or AI.
Developing Denmark’s leading crowdlending platform
Flex Funding is a web marketplace combining peer-to-peer lending and business investment. It matches private and professional lenders who wish to build a profitable portfolio, with small and medium-sized enterprises looking for affordable loans to boost growth.
Code & Pepper came on board to refine product requirements, create a slick user interface, optimise UX and supply dedicated Angular developers.
Implementing a robust front-end helped Flex Funding achieve its main product goals. The application makeover resulted in higher accessibility and performance, with solid security features put in place and tested during a custom QA process.
A penny for their thoughts
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Premila Stampe Head of Business Strategy
We value Code & Pepper for their quick-to-grasp understanding of our financial product and implementing an optimized user experience on the client-side app. The team are highly experienced and brought a great approach to our project.
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Christian Schneider Co-founder
Code & Pepper has been very responsive to our business needs from the beginning. When new requirements emerged, they were both fast and diligent to provide us with candidates that fully met our requirements. Having a competent partner by your side is a great help to move quickly as a start-up!
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James Varga CEO and Founder
DirectID (The ID Co.)
We value Code & Pepper for their proactive attitude, responsiveness and transparency. It’s a reliable and dependable company that we can recommend for other business entities to cooperate with.
Why Code & Pepper?
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