At BLOCKLOAN we are going to revolutionise how people access credit globally.
A big call… but not when you learn about the team behind, the technologically advanced marketplace, connecting lenders and borrowers, in Australia.
BLOCKLOAN will be driven by a new model for credit scoring, supported by smart blockchain tech and contracts and backed by deep industry experience, this pioneering business model is going to catapult BLOCKLOAN into success.
BLOCKLOAN strongly believes that access to credit should be easy, transparent, real-time, and based on new technologies that can help minimize the risks and complexities of both parties involved. Up until now, traditional financing has always been channel-specific and focused on using outdated systems instead of rapidly evolving to meet the demands and needs of the modern consumers.
A New Age of Disruption
According to market research, alternative lending is expected to globally increase at a rate of 53 percent between the year 2017 and 2025. The main drivers of marketplace lending will be the rise in the technology of digital lending, greater access to developing economies, decentralized technology, and efficient lending systems.
The worldwide demand for personal loans has grown to about $120 billion as of March this year, according to TransUnion data. That compares with $71.9 billion a decade ago — worth around $90 billion adjusted for inflation — when the subprime mortgage crisis peaked. This in a fragmented industry that consists of several giant financial institutions, which command large market shares within traditional fiat-based loans. Their positioning in the market remains strong as they slowly transition into the marketplace lending by partnering with Fintech lenders.
So who are going to be the dominant players in the emerging lending space based on crypto and smart contracts?
Banking-as-a-Platform
Using a marketplace approach to global lending can facilitate:
- Borderless cryptocurrency personal lending.
- Country-specific partnerships, which minimizes credit default while efficiently managing collections
- End-to-end loan origination, along with loan management
- Non-traditional, traditional, and AI-driven technology for credit scoring
- Pooled loan fulfillment model is diversifying the risk for lenders
- Unique margin lending in cryptocurrency against equity portfolios
- Worldwide access to funds through the debit card which accommodates crypto and other payment methods
BLOCKLOAN will be an end-to-end loan management marketplace that, through smart contracts, will facilitate the decentralized fulfillment of loans.
An Established Bank-as-a-Platform Model
Behind every successful business is a team passionately driving their vision and mission forward. BLOCKLOAN has been developed by a team with enough heart, drive and smarts to make it a huge success.
The team behind BLOCKLOAN, just 10 months ago launched Lodex.co, Australia’s first loans and deposit’s marketplace. Already Lodex has over 50,000 members and 400 million in loan auctions, giving free access to free powerful tools including social scoring, credit scoring, and proper valuation reports.
BLOCKLOAN is going to leverage Lodex’ significant finance and banking experience in the Australian market to achieve significant traction in other global markets.
The Lodex platform is a reverse auction, so that banks and brokers bid for loan or deposit requests that suit their portfolio. Members get access to a world-leading credit management system as well as tools for proprietary customer verification and credit scoring that members can use for their own advantage in an auction-style platform.
The model transfers the power from the lenders into a more equitable model where both the brokers and lenders will compete and bid against each other to acquire the right to meet the customer’s needs for both deposit and loan products.
BLOCKLOAN is going to function as a comprehensive platform using Lodex Banking-as- a-platform suite for products for the origination and management of crypto fiat loans. The platform will be agnostic to the source of funds and will come with a flexible product interface, which allows various lending products to leverage the underlying infrastructure of crypto lending.
You can see that the journey to solving access to credit has already begun.
Want to know more? Visit lodex.co or visit some articles here:
