Web Platform for Easy P2P Loans
A P2P lending platform that makes loan operations easy
Project idea
Our client is a medium-sized loan firm based in New York. They approached us with the idea of a peer-to-peer platform that will make the lending process as easy as possible. Their main requirements were intuitive design, the maximum level of automation, and top-level security measures.
Industry: Fintech
Type: Web development
Time: Ongoing
Platforms: Web
About the project
Project team
Project manager
UX/UI designer
Two frontend engineers
Two backend engineers
QA engineer
The client had
The initial idea
We were responsible for
The platform’s design
Frontend development
Backend development
Technology stack
How Peer-to-Peer lending works
Features in detail
Secure sign up/sign in
When a lender or borrower registers on the platform, they start with a simple sign-up and onboarding. Then, users can implement two-factor authentication to secure their sign-in.
Loan management
The loan organization pipeline looks like this: The borrower fills out the loan application, the lender accepts it and grants the loan if they are satisfied with the offer and terms.
Online loan calculator
A borrower can enter the sum of money they need, and the calculator will show the loan period, annual percentage rate, and corresponding monthly payment amount.
Feedback form
Both borrowers and lenders can leave honest feedback about their experience to help others understand the quality, range, and returns of the loan.
Dashboards
We implemented dashboards for lenders and borrowers to easily navigate the platform and see their profile’s statistics
Challenges and solutions
User roles management
Problem: Some requests didn’t have the user access level segregated by user role. As a result, borrowers could have access to the lender’s functionality.
Solution: We have introduced the security improvement by adding access for each request with binding to both the token and user role.
Results
The platform is up and running. Good results of speed tests. Finished penetration testing. Positive user feedback.