Peer-To-Peer Lending Web Platform



The customer is a worldwide FinTech company with offices in numerous countries, providing a broad range of financial management, investment, and trading services to both corporate and individual customers.


The customer reached out to Cyfrania to develop their new online peer-to-peer lending service, aimed at simplifying the loan process for borrowers and offering solid advice and risk reduction for investors. Originally, the service was planned to launch in a single European country with the aim of expanding to more and more markets if successful.

Key Customer Requirements for the Upcoming Financial Portal

  • Integration with the target country's government services database. The app must pull the required data for user authentication and electronic document signing from this database.
  • Integration with the state tax service database of the target country. The app needs to extract borrowers' income and credit history data from this database.
  • Integration with the banking system of the target country. The app must ensure swift transaction processing and support multiple currencies.
  • Creation of a built-in system for managing electronic legal documents. The app must allow for the automatic handling and electronic signing of contracts with investors and borrowers.
  • Full automation of all workflows related to investments and lending. The app must feature adjustable auto algorithms for every intermediary task, from identity and credit history verification to creating bespoke offers, paperwork processing, and payment control, etc.
  • Compliance with legal and regulatory requirements in the financial sector. This includes ensuring the security of user data and transactions.
  • Modular app structure that's easily adaptable to different countries' specifics. The app should enable rapid modification of its country-specific components when entering new markets.


Cyfrania was in charge of every stage of this web app's development. Our team consisted of three backend developers, one frontend developer, a UI/UX designer, a QA engineer, and a project manager.

We created:

  • UI/UX design and modular architecture for the app.
  • Interfaces optimized for mobile devices for the homepage, the website's info section, and the personal panels of the borrower and investor, as well as the admin panel.
  • Backend infrastructure with essential databases, integrations with government services, state tax service database, and the national banking system, plus automation algorithms to sustain the functionalities detailed below.

Key App Features

Borrower-oriented functionalities:

  • Loan calculator. The tool allows website visitors to easily understand the terms, including the interest rate and duration, for obtaining the desired credit amount, all without needing to register.
  • Swift and easy registration process. Borrowers only have to enter their national ID number or phone number. The app checks the user's identity and auto-fills the user profile with data from the government services database.
  • Swift automated creditworthiness evaluation. The app pulls income and credit history details from the tax agency's database to instantly calculate the borrower's credit rating, showing an estimate of their dependability.
  • Auto-creation of a range of credit options. Tailoring to the borrower's preferred loan sum and period, the app generates multiple proposals, each accompanied by comprehensive details, such as a projected payment schedule.
  • Electronic signing of a loan agreement. A loan agreement is auto-generated, electronically signed, and maintained in the borrower's personal panel within the app.
  • Rapid fund transfer to the borrower's account in any bank across the country. In most cases, credit is granted automatically. Only when the credit rating is poor does it call for approval from the app's management.
  • Full details about payment history and schedules in the personal panel. In addition, the app is equipped with a system for customizing notifications.
  • Early repayment option available. In this scenario, the app will automatically recalculate the amounts of the remaining payments.
  • Refinancing loan options available. Borrowers are able to lower their loan interest expenses, monthly repayment sums, or merge several loans into one commitment.
  • Online chat with the app's customer service manager. Besides, the user can direct their inquiries to management via the contact form or email.

Investor-oriented functionalities:

  • Investment calculator. This tool enables every website visitor to quickly understand the amount and conditions of investment required to generate enough profit for their goals, such as funding a child's education.
  • Reliable investment guidance information. The app provides detailed reference info on topics like credit rating as an assessment of borrower reliability, risks and returns of investments in lending, and various tactics for investing and handling your investments.
  • Easy electronic investment agreement signature procedure. The investment agreement is automatically created, electronically signed, and stored in the investor's personal panel in the app.
  • Possibility for detailed customization of lending terms. Investors are able to determine a monthly borrowing limit from their funds and set varying interest rates for borrowers with distinct credit ratings.
  • Automatic loan issuance on the most favorable terms. The app processes loan requests automatically, disbursing them to applicants from investor funds, in line with the criteria set in the investor's profile, and prioritizes the applications with the greatest potential for profit.
  • In-depth details on each specific loan distributed from the investor's funds. Every loan is featured on a unique page in the investor's personal panel, detailing both its issuance conditions and returns, along with the payment history and timetable.
  • Ability to withdraw invested funds at any time. The only exception is funds that have already been distributed as loans.
  • Ability to sell and buy investments. Investors have the option to put up for sale their investments that haven't yet completed borrower repayments, to quickly access their funds, as well as purchase such investments from other app users.
  • Online chat with the app's customer service manager. Additionally, the user may address their queries to management through the contact form or email.

Admin-oriented functionalities:

  • Electronic documentation generation, submission, and storage. This covers agreements with platform users, managing financial and accounting documents, report generation, and drafting documents for legal cases against non-payers.
  • Ability to supervise all transactions and user activities. Although the app can perform all operations automatically, management can intervene and set criteria for risky loans requiring manager approval before issuance.
  • Comprehensive analytical reports. Management can access an adaptable reporting system within the app, automatically delivering reports on every operational element of the application.
  • Automatic debt proceeding activities. This involves informing management about all late payments, sending reminder messages and emails to debtors, transferring their information to the debtor registry, and preparing documents for court proceedings.
  • Handy tools for providing customer support. It includes a live online chat, a contact form for feedback collection, and tools for automated messaging and email sending.

Post-Launch Advancements

  • Multiple languages support. English and minority languages have been added to the website, alongside the national language.
  • User experience enhancement. The team kept working on refining the personal panel interfaces, focusing on easing every action for the users.
  • Speeding up the application. The team continuously worked on reducing wait times for users while the app processes their requests.
  • Automating all operations. Gradually, the team automated various loan processes in the app, leaving platform managers with only the task of oversight.
  • Keeping up with regulatory compliance. The team timely updates the application according to ever-changing legal requirements and the evolving landscape of online government services, tax, and banking systems.
  • Platform managers' education and support. The team provides the customer's staff with training on platform management and offers support during any difficulties.

The project has been operational for four years now. Cyfrania's team continues to support and enhance this platform, adapting the service to accommodate an ever-increasing number of customers. The customer's upcoming plan involves starting an equivalent service in a different country.


The benefits the customer gained from this project include the following:

  1. Cost-effective development. The initial release was accomplished in only 2 months, with all key features implemented within half a year.
  2. Growing profits and a rising customer base. The platform has firmly positioned itself in its home country, boasting tens of thousands of users.
  3. Minimum number of platform service staff. Since almost all loan issuance operations are automated, only a few employees are needed to manage the platform and serve thousands of customers.
  4. Expert assistance and support. The customer receives all essential expert information and confidence in meeting all technical requirements and standards related to these services, including data and transaction security standards.
  5. Feasibility of expanding into other countries at a low cost. Due to the app's modular design, its region-specific elements can be swiftly reconfigured to suit different countries' needs.

Services Provided

  • Project management
  • UI/UX design
  • Web development
  • Security management
  • Application maintenance
  • Application support

Technologies Used

  • ReactJS
  • Typescript
  • Ruby on Rails
  • PostgreSQL
  • Sidekiq
  • Prawn
  • HTTParty
  • AWS