Services

P2P Loan
Loan Service

P2P Loan Service

CoVEX will be implementing a decentralized platform by late 2019 that has the potential to disrupt the current models of P2P lending. The Platform will allow lenders to deposit their funds and select credit decision package specified by ML algorithms that score the recommended fraud, identity, and other credit rating agencies.

Borrowers will filter the loan criteria based on the available funding parameters and instantly match to the appropriate lenders. After due diligence, funding will be provided to the borrowers, and the lenders will receive the invested principal plus interest accrued on it. All the CoVEX platform users will be in a position to earn interest on their tokenized capital if they decide to lend it to other traders as a loan. The interest rates will be automatically computed based on time and the amount borrowed. CoVEX will collect a small percentage of the interest generated.

Benefits of CoVEX P2P lending platform:

1. Borrowers

     Borrowers will have:

  • Access to affordable loans as a result of CoVEX‚Äôs innovative marketplace model, process automation, and online delivery
  • Enhanced borrowing experience via easy-to-use online application system that has real-time support

  • Branding opportunities where lenders will provide ratings and other transparent reviews on the blockchain to establish the trusted agents and borrowers and
  • Transparency and fairness where the loan processes are entirely handled via a smart contract on the blockchain

2. Lenders

     Lenders will have:

  • Access to risk-less investments as a result of accurate customer appraisal systems
  • Branding opportunities where borrowers will provide ratings and other transparent reviews on the blockchain to establish the trusted lenders and
  • Attractive returns by cutting significant costs that are associated with administering loans.