P2PForce, by FintechLabs, is a mature P2P Lending Software that has gained global traction
P2P lending has emerged as one of the hottest industries in fintech with a fast growth track and billions of dollars generated in loans every year.
PwC’s analysis indicates the P2P lending market could reach $150 billion or higher by 2025.
It has become so popular so fast because of the many benefits it provides both to borrowers and lenders – namely low interest rates, simple application process, low fees, higher returns and an instrument for diversification.
As an entrant in this market, you understand the lending business, you may even have access to borrowers – but what you are likely looking for is access to technology without having to acquire that expertise in-house
For a P2P lending platform, technology is the very backbone that makes the entire process quick, seamless, customer-friendly and cost-efficient.
This phenomenon is going to change banking as we know it, and that needs businesses that are built for the long duration with the right structures, business models and technology in place.
Key factors to consider when looking for P2P Lending Software:
Launching quickly is a huge advantage. Look for a software vendor that can have your platform up and running in 1 month.
Since marketplace lending is a nascent industry, you need technology that is scalable and flexible to grow with you. You may want to introduce a new loan product or enter a new geographic market. If you need to innovate or change something in your process, the technology should be agile enough to support this and not be a step behind.
You are the financial expert and likely not a technology expert. Look for a software vendor who will provide you with a sophisticated, mature product that has been tested and used by others.
Buying a software solution ensures that the vendor takes care of maintenance and upgrades. Overall, the cost of building is typically four times higher than the cost of buying software.
FintechLabs provides P2PForce, a globally known mature software for P2P lending that can be customized completely to fit your needs. It is based on APIs so it can be easily integrated with other systems, either in parts or in whole. The software covers all types of loan products – personal loan, home loans, commercial loans, real-estate financing, loans against collateral or invoice financing.
P2Pforce come pre-built with a front-end user interface, a feature offered by very few marketplace lending software providers. Even at the backend, the interface is ‘eye-pleasing’ for administrative users with well-thought and designed input fields. Our software is competitively priced in comparison with global players.
It offers superior functionality in a cost efficient manner so that you can succeed in your quest to launch your own P2P lending platform. The software is cloud-based and can be accessed from anywhere on your browser.