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Home > Portfolio > Peer to Peer Online Money Lending Management System
Peer to Peer Online Money Lending Management System
Experties:
Application DevelopmentFinance Applications
Verticals:
BFSI
Technologies:
Microsoft .NET ASP.NETJavaScriptHTML5C#Web ServicesSQL Server

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Project Overview

Klickstart is an online marketplace for loans. This online marketplace is connecting willing borrowers and investors with each other. This system is efficient, transparent and simple platform that allows borrowers and investors to transact on mutually acceptable terms. For thousands / millions of potential borrowers and investors, this platform would be the best way to reach each on the internet. Our aim is to radically transform the way lending and borrowing is carried out in India. The idea is for an investor to invest in multiple borrowers in place of a single borrower. This not only mitigates the risks usually associated with lending money but also ensures regular and solid returns to investors.Klickstart was founded with only one objective in mind to provide a more efficient, transparent and customer-friendly medium that offers borrowers lower interest rates and investors better returns.

This platform provides an organised system for willing borrowers and investors to connect with each other. The actual transactions take place offline - directly between the borrowers and investors. This way borrowers get money at cheaper interest rates and investors earn solid returns on their money. This enables people to invest in each other in a way that is financially and socially rewarding to them.

Project Challenge

The concept was very unique and we needed to research how this marketplace be functional in the India between borrowers and investors. Any borrower could act like investor and vice-versa. The mechanism of background check and verification of borrower's and investor's profiles. Multiple Packages and Subscription management system for both borrowers and investors. We had to understand the complexity of EMI Calculator to ensure producing right output for the borrower.

Keeping in mind the nature of business, we had managed to convince the client to use Microsoft Technology (ASP.NET & MSSQL) over OpenSource. For the content management, we had planned to implement the custom solution.

The Endeavor

A dedicated team was set up to provide timely reporting by an account manager, project manager, senior designer, HTML developer, senior developer, and a testing analyst. An agile development process was used with an intense discovery phase.

The online marketplace was developed using the Microsoft MVC framework. This system covered - Investors / Borrows Section, EMI Calculator, Reporting with Stats, Type of Loans and Eligibility.

The product we have developed is based on online system and helping various users to register themselves and be the part of the peer-to-peer money lending system. Now, Borrower as well as Investor can post their application and make offers.

Within few months of website launch, huge trafic was recorded as; 43 Investors, 247 Borrowers, 19.09% Average Interest Rate Per Annum, 10,12,50,000 Investment Amount Offered, 34,48,95,000 Loan Amount Requested

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Client feedback

Team Flexsin is highly sportive and technical. When it comes to communication from the start to end it was fantastic and we are very Happy with the final delivery. They have professional approach and we look forward to working with them in the near future. We have built a strong relationship with the team at Flexsin and we recommend them. Thanks Flexsin! Gaurav Mittal Owner, Klickstart.com
Gaurav Mittal Founder - Klickstart, New Delhi, India
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