P2P lending is one of our main features in JFIN

On April 29th, the Bank of Thailand has revealed some rules for enterprise about Peer to Peer Lending Platform (system or electronics network for lending between person to person) which similar as the center of investors who need to lending and borrowers who need for investments. This platform could overcome the limitation of lending that must has been approved from financial institution only.

The general investors also release a lending in Debt Crowdfunding. For example, Mr. A(Lender) has money $500 and need to lending at interest rate 10% per year. Coincidentally, there are 20 people who need money $25(Borrowers) with total amount is $500. Everyone could make a lending from the lender and Mr. A will gain rewards as wanted. So, these roles of Peer to Peer Lending Platform will support about the risk assessment of lenders and making an electronics contract as defined by the Bank of Thailand’s rules.

As the result, when someone need a lending, they could reach it easily. Not only reduce a loan shark or an illegal loan problems but also made the market standard for lending investors or people who need a lending.

Note: The Peer to Peer Lending is one of our main features in JFIN’s Roadmap, too.