P2P Lending Platform Development
 

P2P Lending Platform Development Company

Hivelance is a world class  P2P Lending Platform Development Company ,with all the prospects needed to create a peer-to-peer lending platform via blockchain. In order to fully grasp your needs, our skilled P2P lending platform developers will conduct in-depth investigation, assessment, and consultation. We make sure the finished product satisfies all of your needs. Invest in the most cutting-edge peer-to-peer lending platform with smart contracts so that your users may lend and borrow money much more quickly and without the need for middlemen.

What is a P2P Lending platform?

Peer-to-Peer lending platform is an entirely free market ecosystem that contains every component needed for a credit enterprise to run well.It is far more affordable than traditional banks because they require you to invest in P2P lending website development, which is typically far less expensive than creating real financial institutions. Lenders and borrowers will have a hassle-free direct interaction platform. The P2P lending platform is now more secure and trustworthy due to blockchain technology and smart contracts. The loan payment procedure is automated by smart contracts, and blockchain provides transparency.

Whitelabel P2P Lending software 

Whitelabel P2P Lending platform software is a solution that is fully customized according to your business perspective. Our steam will collect all your needs and work on it to build your own brand named P2P lending platform. The team has dedicated numerous hours to design, development, testing, and project management in order to produce finance technology that can be tailored to the specific needs of every client.

Perks of building P2P Lending software

Here are some important factors to think about before developing digital lending solutions. if you intend to create a peer-to-peer lending network., then you will get the following benefits, 

For borrowers:

• Accelerated and simplified loan origination
• Versatile financing and expenditure choices
• Lower interest rates on loans
• Decreased standards for credibility

For investors:

• More capacity for earning than with alternative loan arrangements
• Expand the assortment of feasible investment choices.
• Adaptable investment amounts

Features of P2P Lending Platform Development 

We've a creative fineline for improving peer-to-peer lending platform development with the following features due to our thorough study and design-driven approach to the field.

Escrow System

Using smart contracts, this secure deposit system automatically blocks and releases users' cryptocurrency holdings, ensuring quick and clear transactions.

Admin Panel

Enhanced dashboards with fintech KPIs to manage transactions and gauge return on investment in your ecosystem, including financial, order book, credit profile, and user activation KPIs.

Multi layer protection

To further secure encrypted login and user access, we deploy industry-leading security technologies like putting SSL and two-factor authentication (2FA) into place.

Restructure

After successfully repaying the existing interest on the loan, borrowers using your platform can use the refinancing option to receive another loan from a different lender using their current loan amount.

Hot Wallet 

Multi-crypto hot wallet integration offers instantaneous transactions and safe storage for a variety of coins.

Calculating Flexible Interest

You can compute the interest rate on a daily, monthly, quarterly, or annual basis based on your business model using the flexible interest calculation.

AML and KYC

Users' identities are verified by geographical KYC and AML verification procedures, which are activated when cryptocurrency withdrawals surpass a specific threshold.

Automatic Loan Renewal

This expedites the procedure by doing away with the requirement to manually enter the credit order into the order book. You can choose whether or not to enable automatic renewal according to your users' (lenders') needs.

LVR Estimation

The loan-to-value ratio (LVR) calculation aids in risk assessment and empowers your users to make better lending and borrowing decisions.

Security features are .

• Data encryption
• JWT encryption
• Anti-Distributed Denial Of Service
• SQL Injection Protected
• Avoid Self-XSS
• Prevention of SSRF
• Protection of HTTP Parameters
• Login Forgery
• Anti-denial Of Service (Dos) Attack Protection

How can you profit with a P2P lending platform?

P2P lenders typically impose fees to borrowers for loan origination and service. Two separate charge categories exist:

Advance Charges

These charges are made only once, once after the loan has been accepted. Generally speaking, the fees fall between 1% and 6%, while many companies don't charge anything up front for loan origination. Normally, the fee amount is kept a secret until the loan approval process is over.

Perpetual Charges

Throughout the duration of the loan servicing period, these costs are incurred. Typically, margins that are added to the interest rates of monthly payments are what the platform makes money from.For instance, the platform's margin might be 1,5%, if a borrower makes a payment with an interest rate of 6,5%.

Our P2P Lending Platform Revenue  models 

Let's now examine the three primary business models ,can be used to develop a P2P lending platform.

Notary Type

In this most prevalent arrangement, a platform serves as a middleman between peer-to-peer lenders and borrowers. As such, it is your duty to offer an easy-to-use interface for submitting loan requests. Furthermore, it is important for you to realize that you will be acting as a sort of guarantee for the integrity of the agreement, therefore you must offer resources that control the terms under which each party must perform their commitments. Of course, in order to make the lending process easier for your creditor clients, don't forget to incorporate processes that evaluate a prospective borrower's honesty.

Client-Divided Account Structure

When you put this approach into practice, your platform handles finding lenders and borrowers. Therefore, you are the only one using the algorithm to choose the deal's parties. In this instance, a loan may be issued automatically upon the lender's confirmation of the request or manually. Here, as opposed to the prior paradigm, you are not dependent on the assistance of an issuing bank.

Refund Promised Model

This type of vehicle is common in China. You must determine the best interest rate for lenders in order to put it into practice; this rate will rise as the loan amount does. Keep in mind that this strategy is not the most advantageous for lenders.

Top P2P Lending platforms 

Best P2P lending platforms that are presently changing how private lenders and SME businesses obtain financing services.

• LendingClub
• Upstart
• SoFi
• Prosper
• Avant

Why Hivelance  to Develop a P2P Lending Platform?

At Hivelance, we work with highly experienced blockchain professionals to construct your P2P Lending Platform. During the development phase, our team will also help you stay composed and concentrated.We begin by assisting you in putting your idea into practice and locating a technological solution to address commercial obstacles or accomplish a certain objective. We'll also present you with a selection of services to pick from. We can assist you in creating a business plan and moving forward with developing your own P2P lending platform.