iScripts SocialWallet

Client Overview

iScripts SocialWallet is an online peer-to-peer lending platform that matches borrowers with investors who are acting as lenders. It provides both a Web Platform and Mobile App for the end-users.

As a Peer to Peer (P2P) lending platform, users can utilize this marketplace that connects individuals in need of credit with individuals willing to lend within a single window. Users can perform their respective activities through this marketplace, as a borrower they can apply for a loan, and the marketplace owner can approve or deny based on various selection criteria. As an approved investor, they can see this as an opportunity and invest small amounts.

As a marketplace owner, iScripts SocialWallet will allow them to earn money in a form of origination fees. The marketplace owner can set and manage the commission or origination fees for borrowers and investors. When a borrower borrows through this platform, they will be subject to an origination fee. The origination fee will be set as one-time or percentage fee to process when a borrower receives a loan or at the time of repayment. The origination fees can be managed based on their risk grade, as well as the term of their loan, and other factors.

Project Description

SocialWallet has created an environment where it is possible to get loans with fewer interest rates, easier and faster without using traditional sources, like banks, insurance companies, and brokerage firms. This platform provides a web platform and a Hybrid (iOS-Android) mobile application.

The mission is to advance financial well-being. By using the Peer to Peer Lending software from iScripts, marketplace owners can create a new website or expand their existing online marketplace. This online lending platform connects people who want to borrow money with individuals and institutions that want to invest in consumer credit. Borrowers get access to affordable fixed-rate, fixed-term personal loans. Investors have the opportunity to earn solid returns via a data-driven underwriting model.

Borrowers can evaluate their loan eligibility by calculating the eligibility rate and launching a loan request application. Transparent credit score calculation via recommended third-party API services like Experian Connect, Equifax, and TransUnion. Investors can also calculate their eligibility to invest money.

Website Features

Business Service, Peer to Peer (P2P) lending marketplace, Fintech, Transaction-based business model, Financial Well-being, React Native iOS-Android, ICARUS, PHP, MySQL, Apache, Linux, AWS Cloud, Experian Connect, Equifax, and TransUnion

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