Category: Technology / Ideas
stack: MongoDB, Express, React, Node.js
#01. The challenge
In 2016 We were approached by Jamo, a Malaysia based fintech startup. Jamo asked us to develop a peer-to-peer lending platform for them.
We were excited to begin working together, as this would be our first experience developing a lending platform and after multiple calls and meetings we agreed to take the project into our hands.
#02. The Solution
Our solution was Tark, a Malaysia-based peer-to-peer lending platform that connects individual lenders and borrowers via an online interface. Tark charges a small fee for completed loan transactions. Tark is split into two parts:
Markets is an automated system that assembles loans by combining lowest loan offers from different lenders. Tark Listings allow prospective borrowers to post eBay-like listings explaining who they are, how much money they need, and how they will use it. Lenders then make offers specifying how much they are willing to lend and at what rate.
#03. The Result
After project completion Tark lending went on to become one of the major peer-2-peer lending platforms actively used in Malaysia, and Jambo took first place as fintech startup of the year in the annual Malaysia Fintech Awards conference.