Case Study

LENDLY

Solution: Blockchain Solution (POC)

Industry: Fintech

About the Solution

Lendly is a blockchain Proof of Concept (POC) to demonstrate a solution that makes money lending and borrowing process easier via trusted transactions regulated by a consortium.

Problem Domain

  • For any financial loan applications, the current banking system goes through a long procedure and many document requirements just to get started.
  • High-interest rates demotivate borrowers.
  • New or small-time investors cannot compete due to higher share demand.
    Entire process consumes huge time and resources.
  • For large scale investments and loans, there is always a trust issue.

Solution

  •  An easily usable blockchain application that will ensure the finality of the data.
  • Due to the immutability of the blockchain, once a transaction has taken place, it cannot be erased/modified, thus reducing chances of fraudulent transfers.
    Eliminate the requirement of going through a banking system procedure.
  • Lendly introduces a consortium network of Non-Banking Financial Institutes (NBFI), who can be even government bodies, to regulate the network and oversee the ledgers.
    Build trust among the users and the system by introducing smart contracts.
  • High banking interest rates replaced with a negotiable and mutually agreed upon a profit-sharing scheme.

Features

Development

Project Highlights

What clients say

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