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P2P lending company Faircent.com launches its open API platform

The move is aimed at integrating blockchain and other emerging technologies with existing tools for enhanced delivery of fintech services like digital and P2P lending.

ET Online|
Updated: Apr 10, 2018, 03.26 PM IST
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P2P lending company Faircent.com launches its open API platform
The API platform will be open to multi-tenant developers.
NEW DELHI: P2P lending firm Faircent.com will soon be opening its API platform for developers. The move will enable new fintech entrants and offline businesses to leverage the company’s technological infrastructure to build new digital lending products, as well as to integrate existing solutions into their offerings.

"As the latest developments in digital and social technologies have proven, consumer-centricity is at the centre of any business’ growth strategy," says Chief Technology and Product Officer at Faircent.com, Shakti Goel. "By making our technology stack accessible to other developers, we want to help further the growth of digital lending in the country and empower more fintech entrepreneurs," he adds.

Faircent.com’s technology stack offers a wide range of solutions pertaining to online lending such as borrower and lender verification, credit evaluation and underwriting, and payment collection and recovery, among others.

This move will also help both emerging and existing fintech lending companies in the country to deliver more innovative customer-centric solutions.

"Modern businesses today are focusing less on creating products, and more on creating value and facilitating specific services through tech," says Goel. "We are confident that the fintech leaders of the future will be able to excel through advanced solutions such as P2P APIs, like those now offered by Faircent.com," he adds.

The API platform will be open to multi-tenant developers. Through this, intermediaries will be able to share the data collected with its internal developers and partners, as well as third-party service providers. This data can then be used to construct value-added services, including mobile payment solutions, analytical dashboards, and more.

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