– High Street cash remittances using private blockchain technology and
– Unsecured consumer lending on Ethereum
Our mission is to bring the benefits of blockchain technology to customers and loan providers who still want to utilise the cash-based world.
We are in late stage development and will launch in early 2019 the first blockchain based remittance solution that deals exclusively with fiat money – cash not crypto. Our solution gives customers the same easy methods of paying in and out money as they use today but offers fees 30-50% lower and transfer times in minutes not days.
LendSend’s mission is to enable lower income families who rely on remittance income cheaper and easier access to unsecured lending.
RemitLoan is a platform that allows loan customers to apply for an unsecured loan, be pre-validated and credit scored and be offered a range of fiat-loan products from 3rd Party licensed and regulated lenders.
RemitLoan bridges the blockchain and “brick-and-mortar” online lending world offering the decentralised security of the former and the far greater pool of lenders who currently work exclusively in the latter.
Loan applicants will be able to apply for an unsecured loan, be pre-validated and credit scored based on both remittance and traditional credit data and be offered a range of fiat loan products from 3rd party loan providers.
Loan companies hosted on RemitLoan will have access to a new, and lower risk set of pre-assessed customers and will ultimately provide the loan capital and debt servicing. Costs of acquisition (which can traditionally be c$100-$200 per loan) will also be much lower.
We are using blockchain to overcome the challenges loan providers face in securing affordable debt capital to provision their loan businesses and in accessing the fast-growing tokenized debt markets.
As lenders increase their portfolio size they require additional capital. Traditional fiat lending companies have little access to the tokenized securities markets which is predicted to grow to $10 Trillion by 2025, We intend to expand our RemitLoan Platform to offer exiting loan companies the opportunity to collateralise their loanbook assets (CLO) in the form of tokenized Bonds – a new asset class.