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    Date submitted
  • 10-Aug-2017

Fintech

Abstract

P2P Lending (Blockchain)

Additional Questions

Who is your customer?

1. Lenders who are seeking premium returns on investing excess cash 2. Borrowers seeking a rates lower that market rate

What problem does this idea/product solve or what market need does it serve?

There is a wide divide between Returns on savings i.e. X% and Interest rate on loans i.e. Z%, we have devised a mean of facilitating effective exchange between the high cost of borrowing (to the borrower) and higher returns on Savings (to the lender).

What attributes will make this idea/product successful? Why do you believe that those features will create success?

We facilitate the commerce by pre-approving borrowers and providing guarantees to the lender, and we provide a platform to make the exchange between them occur.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

1. we have deep understanding of the market including work experience in consumer lending and Fintech 2. We will develop the technology i.e. platform that facilitate transactions among customers and also, performs credit review and grading of borrowers. 3. Deploy a risk management technology to manage performance and collection, as well as purchase insurance to take-on the risk of delinquent borrowers 4. this product does not exist within the target market i.e. Nigeria