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Loan Lending Software Development
Helping Banks, Credit Unions, and P2P lenders with highly scalable and robust loan lending app development services.
We implement disruptive mobile technologies to enhance CX.
Statista reports that the transactional value of the marketplace for lending to the consumer segment will reach $24,914.6 million by 2024. Indeed, the demand is here. But how are you planning to secure your slice of this billion-dollar pie?
P2P Loan Lending
App Development
P2P lenders are the real disruptors in the industry. If you’re one of the companies that brings investors and borrowers together, Nimble AppGenie is the right choice for your P2P lending software development.
Bank Loan
App Development
In this tech savvy world, it is necessary for banks to provide a mobile lending app, as most loans are long-term arrangements, and are therefore harder to manually monitor. As loans are a main product for many banks, various loan features have been added into some mobile banking apps.
Credit Union
Loan App
Loan lending apps for credit unions are very similar to bank lending apps. Credit union lending apps also require forums and in-app chat features to allow union members to connect. We understand the right set of features that a credit union loan app will need.
Scalable and Robust Architecture
We’re among the best loan app developers in the USA. As security is among the foremost concerns for FinTech businesses, it is compulsory to build solutions that are end-to-end encrypted and follow the highest security standards. As your user-base grows, your app will have to accommodate all of these users, which requires the app to be developed with high-scalability constantly in consideration. Worry not, we’ll do this for you.
Cost-Efficient Solutions
Unlike many other software development companies, we aim to craft solutions that are powered by top-notch technologies. The technology doesn’t have to be expensive to suit your lending app, but it has to be safe enough to ensure compliance. We make sure that the solutions are built with the least possible effort (cost), while keeping the standards high, so that the app drives faster ROI.
Achieve Digital Transformation With Innovative Tech
Being a significant part of the FinTech revolution, loan lending app development is enabled by several technologies. However, the use of innovative technologies such as AI&ML, Blockchain, and Big Data is paving the way for a new future of lending, where the borrower can request and directly receive the loan amount through mobile devices.
Open Banking
Gone are the days when third-party lenders had to contact banks or credit institutions to access customer’s financial data and credit scores. By integrating the open banking APIs, we’ll empower your loan lending app to access an individual's financial data in seconds.
Blockchain
Big industries on which several other industries rely, face slow pace of transformation due to strict regulations. However, the end customer-facing applications can be taken to the market much faster. We use Agile methodologies that support lean requirements and deliver results to your banking business in less than six months.
AI & ML
By leveraging an intermediary messaging layer and abstracting away from a batch-oriented core platform model, banks can speed-up service delivery. We mostly recommend a microservice architecture that scales and versonizes itself. We have extensive experience in integrating into most of the common banking platforms, such as Finserv, FIS, etc.
RPA
Digital banking transactions are the hotspot for cybercriminals. In June 2020, the FBI warned that financial cyber crimes may rise due to the rise of digital banking. To help banks overcome the security challenges, we implement end-to-end data encryption in the banking softwares that we develop. We recommend SSL chain verification to ensure there is an encrypted connection between the Upload Filer and web server.
Our Work That Shines
The Digital Bank of Africa
The digital Bank of Africa, aka DafriBank is a borderless digital bank built specifically for entrepreneurs and merchants to act as an electronic payment gateway system. The bank caters to the banking needs of the growing digital entrepreneurial class in African region.
View More
CUT E-Wallet
CUT mobile wallet allows users to make payments and transfer money in Myanmar and China. The app supports MMK and RMB and allows instant fund transfer via QR code, phone number, or an account ID.
View MoreLoan Lending App Features
Many loan lending app development companies will overwhelm you by suggesting dozens of app features that can be unnecessary for a loan lending platform. Worry not, we, at Nimble AppGenie, always suggest our clients the right and appropriate set of features for your P2P lending platform development.
01
Account Management
The users should be able to manage their account information along with the capability to block/activate cards.
02
Loan Application Form
This is the core feature for your loan lending app development. We enhance the user experience by breaking down the loan application into several steps.
03
Payment Log
Once a loan has been funded, the customer would want to know all the completed and pending payments. Knowing the total remaining debt at a glance is also better.
04
Personalized Alers
When users have dozens of applications in their mobile phones, they won’t pay attention to every notification. Hence, you should shoot the least possible notifications to make them valuable.
Seamless Customer Onboarding
Due to a lot of financial information requirements, customers often find it hard to associate with a new lending institution, especially when the process is online. We build applications that allow users to get onboard quickly.
Secure Authentication
Because of the strict industry norms, AML and KYC requirements have become very necessary. Although user authentication is crucial, it can result in users abandoning your app. We create promising user experiences that help avoid such issues.
Credit Score
Considering the increasing customer expectations, it is essential for your loan lending app to integrate credit score data using open-banking APIs.
Loan Repayment
When the lending is performed using your app, it can be repaid too. The users should be able to pay via several payment methods such as UPI and e-wallets.
Chatbots
AI-powered chatbots allow users to reach to you for any query or grievances. It makes your customer service effective and cost-efficient. Also, you’ll be available to your customers 24/7 when you have chatbots in place.
Automating or Scheduling Payments
You can go one step forward with loan repayments by enabling users to enroll autopay. It would require users to add their favourite payment method to the app. Hence, your app should have the functionality.
Security Procedures
Multi-factor Authentication
Giving access to the loan account with a password will only compromise the data security. We recommend implementing multi-factor authentication for logins.
Real-time Alerts
By using advanced technologies like AI & ML, we enable the app to alert users about suspicious activities.
TLS, RSA SSL
We ensure maximum digital security by implementing several encryption algorithms. TLS protocol is among the best for computer network security.
Biometrics
To ease out the multi-factor authentication for the users, we implement biometrics into the loan lending apps that we create.
Want to ensure faster ROI for your loan lending app development?
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