Home Clone Scripts iScripts SocialWallet Released: Now Build a robust P2P money lending platform with ease!

iScripts SocialWallet Released: Now Build a robust P2P money lending platform with ease!

by Noyal Sharook
SocialWallet

iScripts SocialWallet is a peer-to-peer money-lending software that helps businesses create P2P transactional platforms or expand their existing online marketplace to incorporate the same. You can use it to easily create a website and app for people interested in investing in customer credit. Contrarily, credit-worthy individuals become the biggest beneficiary, as they can borrow from these lenders at affordable rates.

If you are an entrepreneur or business planning to venture into the growing peer-to-peer fintech space, iScripts SocialWallet can reduce most of the complexities associated with building a robust platform in this segment. We have designed SocialWallet to be fast and easy to use by providing extensive in-built features, multiple integrations, and a stable front- and back-end interface. Further, all transactions in your platform will be transparent, paperless, and always backed by data.

“iScripts SocialWallet creates a win-win model for all parties involved- borrowers, lenders & administrators. It promotes a data-driven underwriting platform that shoulders user financial responsibilities with ease and security,”

Mr. Aji Abraham, CEO and Founder of iScripts.com. 

He added that “As part of our aim to make consumer credit more accessible, we will work with entrepreneurs to help them build peer-to-peer money lending platforms that will help people from all strata of the society.” 

iScripts SocialWallet – Features

We have made iScripts SocialWallet an interactive marketplace for lenders and borrowers. The entire process is a single-window mechanism that eliminates unnecessary intermediaries. You and your team, as administrators, will be able to manage all aspects of the platform, including borrower and investor eligibility, loan requests and listings, front-end content management, payment flow, interest rates, commission fee, and reports.

Here are some of the features of iScripts SocialWallet:

  • SocialWallet has a credit eligibility calculation feature right on its Homepage. Thus, users can find their loan rates, check payment plans, and launch a loan request application.
  • You can calculate the eligibility of all borrowers coming to your platform using several variables, including age, location, social profile and credit history.
  • The credit score calculation is facilitated by credible third-party API services like Experian Connect, Equifax, TransUnion, etc, making the process accurate and reliable.
  • Investors can access a quick link on the Homepage called ‘Start Investing’ to calculate their eligibility to invest money.
  • Social Wallet is integrated with DocuSign for confidential and secure information sharing- bringing more confidence to platform users.
  • Real-time notifications available through Web and app.
  • Exhaustive profile and dashboard area for users to find the status of their loans/investments, pending EMIs, payments and to download reports. 

Proven P2P Startup models

While most P2P startups are for-profit, they also strive to bring positive change to society by helping large sections of people meet short-term cash requirements. Compared to traditional financial institutions such as banks, P2P lending provides favorable interest rates for both borrowers and investors. 

Mr. Aji Abraham says that he is glad to launch SocialWallet, especially at a time when individuals and small businesses are having a hard time finding legitimate platforms for borrowing and lending. With the software, he hopes to expand financial avenues for people all around the world.

For a better understanding of P2P money-lending, let us look at two platforms that have found successes in the segment and how iScripts SocialWallet can be used to make models similar to them.

  1. Prosper ModelProsper is America’s first online peer-to-peer lending platform wherein individuals can get loans from investors at a minimal interest rate, without long-drawn hassles and formalities. Like Prosper.com, iScripts Social Wallet is equipped with a transaction-based business strategy known as the marketplace model. As users do transactions on the platform, either while borrowing or lending, revenue is generated by charging them a fee or commission.
  1. Kiva Model – Kiva.com is a non-profit organization that facilitates micro-funding that makes borrowing easy for low-income entrepreneurs and students via the internet. Similar to Kiva, iScripts SocialWallet can also be used as a crowdfunding platform for credit–deserving individuals to realize their various dreams and needs. This model of SocialWallet provides high-quality financial services and addresses the underlying barriers to monetary access that startups worldwide face. In addition to startups, students can use the platform to pay their tuition, women can start businesses, farmers can invest in equipment, and families can get the much-needed resources during emergency scenarios.

iScripts SocialWallet- Advantages

iScripts SocialWallet offer numerous advantages when compared to other options in the segment:

  • iScripts SocialWallet makes building a world-class P2P platform easy. Everything can be set up within hours
  • The software enables you to create a data-driven environment conducive to legitimate borrowing and lending. Transactions are transparent and backed by data.
  • You can use it to expand businesses as well as create new stand-alone monetary platforms. 
  • As the marketplace owner, you control all the functions and data through a back-end administrative panel.
  • iScripts SocialWallet is also multi-device compatible. This makes it an ideal all-in-one solution for development in Web, Apple and Android ecosystems.
P2P money lending mobile

iScripts SocialWallet- How to Earn?

iScripts SocialWallet makes earning from your P2P startup easy. As a marketplace owner, you can earn money by charging a registration fee. Likewise, you can also set and manage commission or origination fees from borrowers and investors. Whenever a borrower attains a successful loan from the platform, they are subject to a one-time origination fee. The origination fee can be premised on risk grade, loan term, and other essential factors.

At the other end of the spectrum, with SocialWallet, you can build a completely non-profit platform too. Existing businesses who want to expand into crowdfunding can also make use of the software.

Configuring iScripts SocialWallet 

SocialWallet is a peer-to-peer money-lending platform that is feasible and easy to use. After you purchase by making a one-time fee, all you have to do is connect it to your custom domain and hosting. The support team of iScripts is ever-ready to help customers with technical and developmental difficulties. 

Once the software is successfully hosted, all you have to do is add your brand-related details to the website, including the website theme and products. After this, the user and content management becomes swift. 

Additionally, as an open-source PHP P2P software, iScripts SocialWallet is endlessly customizable, and administrators can tweak the platform and code as per their website requirements. For such cases, you can avail the help of dedicated programmers from iScripts if required.

Check out iScripts SocialWallet

SocialWallet Live Demo

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