Our blockchain experts provide blockchain & crypto P2P lending platform development services to help you build P2P lending software.
Cryptocurrency space is spreading over the people’s brains, and they are looking out for business opportunities in the realm. The booming of fintech market space has strived for advanced features such as Decentralized Finance (Defi) applications and its allied services with digital currencies. The trading of cryptocurrencies has now become a lucrative evergreen business that the crypto enthusiasts shower interest on. The new pop-up in the town is crypto lending platform development!
This blog post gives you a rough idea of features to be added to your platform while diving into crypto lending software development!
Features to opt for while diving into the crypto lending software development!
Borrower Management The borrower management module helps the lending platform community to streamline, verify and validate their borrowers efficiently. Also, the borrowers can instantly get loans from the investors based on their credit score. The lender can verify the borrower’s transaction history and then sign off the deal to be on the safer side.
Lender Management This module of the crypto lending software helps community members effectively manage the investors and small-scale lenders. Lenders can be verified as per the KYC compliances by the network community. The lenders would be notified of the matching investment deals and the borrower’s authenticity.
Lead Management This feature helps in tracking the trading process. The lender and borrower can trace the transaction status such as KYC, e-signature, payment status of the borrowers. The lender can leave comments or feedback on the borrower based on his trade experience.
Know-Your-Limit This feature restricts lenders and borrowers with trading limitations based on their income certificates and other authorized proofs. Depending on the requirement, these features can be customized while developing the lending platform.
Document Management System The identity proofs, quotes, and other documents shared on the lending platform can be efficiently managed with integrity and sustainability by utilizing this feature.
Credit Score The credit score is a significant feature when it comes to lending platform development. The crypto community can design the terms and conditions to set the credit score of borrowers & lenders in the platform.
Wallet of choice The trading peers can store and perform transactions with their online wallet application offered by the platform so that they need not rely on third-party applications.
Automated Processes The lending platform can be automated with auto-renewal of loans based on specified conditions. Also, the borrowers can be laid with automated equated monthly payments(EMI) for the specified time frame.
P2P Transaction In crypto lending transactions, the smart contracts execute the deal based on the pre-defined conditions. Hence, there are no intermediary interventions and disputes in this platform.
AML Verification The crypto lending platforms are customized with an automated KYC verification process based on the regulations of the geolocation.
Feedback The feedback feature prompts users to leave their comments on the lending platform experience.
In addition to these functionalities, we take security measures as a priority in crypto businesses. Hence, here is the list of integrated security features that can be added to the crypto lending platform!
Security features to be added to the platform
Let’s just look into the quick shots of security features in the crypto lending platform!
• Escrow Service • DDoS Protection • Data Encryption • CSRF Protection • SSRF Protection
You can include these security features to make your cryptocurrency lending platform development more sustainable and safer for the community audience!
Stay tuned to explore opportunities in the crypto space!
The blockchain is the decentralized database of the blocks of information, which gets recorded in the chain format and linked in a secured crypto graphical manner. This technology ensures proper safety of the data due to its secure nature, and it totally changes how people carry out transactions. It also brings about a faster and secure process of validating information needed to establish reliability.
Blockchain Technology solutions that accelerate the change by simplifying the development, deployment, and support of technically complex projects.
A Certified Blockchain Expert is a professional who understands Blockchain technology profoundly and can build Blockchain-based applications for businesses. This blockchain certification aims to impart in-depth practical knowledge in Blockchain technology.
Reach out to a P2P lending software development services company, that is best in the industry, Blockchain App Factory, and utilize the opportunity to capitalize and satisfy your lending needs with a reliable Whitelabel P2P lending solution.
In all the market sectors, Blockchain technology has contributed to the redesign. The improvements that were once impossible have been pushed forward. Blockchain is one of the leading innovations with the ability to influence the various sectors...