Shared economy is everywhere. Crowdlending is already a great success around the world. According to a recent study, the global P2P lending market is ahead of a nearly 50% of annual growth and is becoming a nearly 900bn USD market by 2024. Some experts even say that “Peer-to-peer lending may be the biggest innovation in financial services since the invention of the ATM.”

What it does

Make the success of crowdlending a reality in Hungary cooperating with banks and regulators.

The core business model is quite simple. It expands the opportunities of banks by helping borrowers who could or would not attain money otherwise and it tries to ensure that the lenders’ money goes where it provides a great return and helps achieving goals that could not be realized otherwise.

How we built it

Talking, argumenting, laughing, worrying - and a LOT of work in Java, Javascript, ReactJS development.

Challenges we ran into

Our veins were full of coffeine and our 30 hours with troublesome moments in searching for the most promising user journey. Identifying the APIs that are the most useful as well as integratable into the E2E process in this short time was quite a challenge.

Accomplishments that we're proud of

Structured team work, excellent focus on parallel tasks, good co-operation with Fintechblocks receiveing the support exactly when it is really needed to implement which we though we could not.

What we learned

It is important to remain customer oriented throughout the whole development even during periods of stress. We have received a tremendous amount of fresh ideas from our mentor Gábor Vadász.

What's next for aP2Pello crowdlending - the future of lending

  1. Secondary market for investments
  2. Integrate social responsibility and innovation goals.
  3. Extend solution coverage for micro and SME segments (to achieve goals helping local community and/or serving a good purpose)
  4. Include credit insurance providers in the collaboration
  5. Lombard credit - use securities accounts of investors as collateral in the process
  6. Collaborate with financial institutions for potential co-operation agreements

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