Peer-To-Peer Lending Platform - not mentioned
A peer-to-peer lending platform which enable individuals to borrow and lend money directly without the involvement of traditional financial institutions like banks. This platform takes place online to match lenders with borrowers. The platform includes borrower portal, credit assessment, listing, lender application, loan funding, replayment, returns to lender and default and collection. The system include rate estimate journey site, borrower portal, lender portal, admin site and API services. Individuals seeking loans apply for funds through a peer-to-peer lending platform. They provide information about the amount they need, the purpose of the loan, and other relevant details. The lending platforms assess the creditworthiness of borrowers using various criteria, including credit scores, income verification, employment history, and sometimes other factors. Once approved, the borrower's loan request is listed on the borrower portal, where individual borrowers can review the their profile and loan details. Individual lenders (investors) can review the loan listings and decide which loans to fund based on their risk tolerance, return expectations, and other factors. Lenders can typically invest small amounts in multiple loans to diversify their risk. Once enough lenders commit to funding a particular loan, the total loan amount is disbursed to the borrower. In some cases, the borrower may receive the entire loan amount at once, while in others, the funds are released gradually. Borrowers make regular loan payments, usually monthly, which include both principal and interest. The lending platform collects the payments from the borrower and distributes them to the respective lenders Lenders earn returns on their investments through the interest payments made by borrowers. The platform may deduct a fee from the interest payments before distributing them to lenders. In case a borrower defaults on the loan, the lending platform may take steps to recover the outstanding amount on behalf of the lenders. This can involve various collection efforts, including working with collection agencies or pursuing legal action.
- High-quality standards of code, functionality, testing, code reviews, and user experience.
- Clients, project stakeholders, and team members are satisfied with the project outcomes and overall process.
- The system that can handle increased workload and user base without significant performance degradation ensures that the system can grow along with the business or user demand.
Technologies: TypeScript, JavaScript, HTML, CSS, Tailwind CSS, C#, Go, Python, React, Angular, Redux, Bootstrap, .NET Framework, Node.js, GraphQL, Cypress, Jest, Mocha, XUnit, MySQL, DynamoDB, Redis, Docker, AWS, Domain Driven Design, VS Code, Git, Postman, Agile, Scrum