BankServ Powers Lending Club P2P Lending, Borrowing Platform
BankServ has announced that Lending Club's collaborative person-to-person (P2P) lending platform is built upon BankServ's Magex Payment Platform, ACH reporting and cash management solutions.
P2P banking and payments is set to be a major growth industry. The BankServ solutions have been deployed to support Lending Club's innovative, online facility that brings a new financial service to various online communities (including university alumni groups, social networks, and professional organizations). The Lending Club solution offers users the ability to get a loan, fully online, at a lower rate than from traditional sources. Lending Club manages user authentication, credit checks and loan processing, and, through its LendingMatch(TM) technology, matches up groups of compatible lenders and borrowers.
"We set out to find a company that could support our P2P service and provide us with ACH reporting and cash management facilities that would seamlessly integrate with the other components of Lending Club's technology, namely credit analytics, portfolio recommendation, profile matching, authentication and collections. We recognized that BankServ's Magex Payment Platform has become the standard for any company that is serious about launching a P2P financial service," comments John Donovan, COO, Lending Club.
"Many payment industry experts are convinced that P2P lending will define a new era in electronic payments. There is a clear need for new solutions that improve service and convenience to consumers, and Lending Club has achieved this with its innovative LendingMatch(TM) technology," said Mary Ellen Putnam, Vice President of International Business, BankServ. "We are pleased that the BankServ technology offerings have been selected by Lending Club and look forward to working with this impressive team as they build on their success."
"We were looking for a partner that brings experience in P2P, the payments industry, and that also understands the need for speed and efficiency. BankServ has proven technology and services that made them an obvious choice for Lending Club," concludes Donovan.
Grant
Coffee Project
I am writing to inquire whether this would invite a proposal from the, Arayason Coffee & Tea requesting an investment of dollar 50,000 per year over Three years to support our Enterprise. This grant would provide part of the funds needed for us to farm coffee in rural Kiambu Kenya. This include farming, pulping, milling and roasting for local and export market. These as sustainable businesses as we alleviate poverty. Your website indicates that you are helping entrepreneur innovative ideas to improve the lives of the rural poor; we believe Arayason falls well within your area of interest. Farming is a promising solution to one of the primary obstacles facing the small rural poor in poverty: Good farming is possible for even in the most remote locations do business on a region-wide, national, or even international basis. Working in conjunction with other small scale farmers Arayason Coffee & Tea gives individual need; and, in collaboration with other agencies and redistribute coffee, we also assure that they obtain the best Arabica Coffee. We believe that broadly-implemented have the potential to help the lives of many struggling farmers, and change the economic landscape of impoverished rural communities. Unlike many poverty alleviation initiatives, all of the Communal Kenya programs are predicated on the assumption that these farmers already have 90% of what it takes to compete in the marketplace -intelligence, ambition, initiative, and talent, and established a high degree of credibility among community groups, policy makers, and donors. With your support, we can make that 50% difference in the lives of these hard-working people and the future of our rural communities.
Please feel free to email me with any questions.
I look forward to hearing from you soon.
Sincerely,
Naftaly Arayason