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Lendino’s loan market is an example of so-called crowdlending. Crowdlending is a form of crowdfunding in which a company or an individual borrows from a group of individuals through an online platform. A loan is split into smaller shares, which allows many individuals to come together to finance a loan.
While anyone can become a lender on a crowdlending platform, loan applicants must undergo a credit rating that determines whether they can borrow and on what terms. Some platforms set the interest rate, while others let the masses determine the interest rate using an auction.
By making it easy for everyone to participate in the financing of a loan, one can through crowdlending draw on the total intelligence of the masses (this is often called the wisdom of the crowd ). Lenders contribute to the credit rating of a loan by choosing whether to contribute to its financing.
Common to the crowdlending platforms is that they make information available to lenders, who can thus qualify their decisions. This means that all loan applicants have their case tested twice: the first time when they are formally credit rated by the platform’s creditors, and the second time when the masses decide whether to lend to them.
Lendino’s loan market: a marketplace for loans where private and professional investors can lend directly to creditworthy companies for the benefit of both parties. Using the loan marketplace saves you time, money and hassle – both as a lender and borrower.
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