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8 Benefits of Cloud-Based P2P Lending Software

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8 Benefits of Cloud-Based P2P Lending Software

Cloud-based solutions for P2P lending software are the ideal way for investors and lenders to connect with borrowers, receive payments, and share information among their company principals.

The software allows complete loan origination, including the loan request form, auto credit score check, loan review, borrower background checks, communication and loan approval.

A complete loan module is readily available for business personnel to manage all the applications, including loans in progress and completed loans.

Cloud-based software uses APIs to connect with banks, which lets borrowers pay money directly from their bank account to yours, or see their account status and balance.

Using APIs will not affect the pricing of the lending; if anything it will make the entire process less expensive.

APIs are pre-installed to have a basic set up for business transactions.

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