Banks are credit organizations that exist in any country of the world. And many of us are clients of these banks. Here we pay bills, receive transfers, take loans… And, yes, this is an established model, but is it available to everyone, and is it profitable to get money in debt in such organizations? Have you ever thought about that?

Most likely — no, because we are used to them. However, firstly, billions of people around the world do not even have the opportunity to use the services of banks, and secondly, p2p lending platforms such as FinWhaleX have become popular.

Let’s see what is wrong with banks and why it is more profitable for many people to use P2P platforms.

In the first case, all the banality is simple: it is only the Europeans think that banks are everywhere, but residents ,for example, of villages in Malaysia know that this is not so. And in order for a Malaysian to get to the credit institution he needs to spend time and effort. In some countries people even have to risk their lives, as robbery in many remote communities is commonplace. And sometimes such trips are not always successful, especially when it comes to the loan.

Why? A bank is an organization living by its often outdated rules. Not everyone who wants to borrow money can provide a number of necessary documents, and even if he can, the bank is not able to check the documents quickly and give an answer.

The use of outdated methods of assessing the solvency of the client, combined with a conservative approach to the choice of technologies used, makes obtaining the necessary amount an impossible task.

As for the use of P2P platforms, where the creditor is an individual, today it is one of the best tools for the modern man anywhere in the world.

We will not talk about the difference of P2P lending platforms — let their customers appreciate the work.

Let’s talk about the basic principle of our P2P platform FinWhaleX.

Lenders and borrowers interact on it as equal participants. And all operations on the platform are automated. Each of the parties has an understanding of favorable conditions and concludes a deal, if he sees a suitable counteroffer. At the same time, in comparison with commercial banks, creditors’ claims against borrowers are less strict, and the period of time until the loan is received is shorter.

Technical support of transactions is carried out on the basis of smart contracts in decentralized registers that safely carry out the movement of funds and digital assets.

We also:

- keep credit history of users

- calculate risk of user profiles

- we monitor the current status of loans issued,

- we provide information support of the parties,

- we inform users about the insufficiency of security,

- implement a security deposit to cover costs.

FinWhaleX platform is an alternative method of borrowing, beneficial for both the lender and the borrower!

Do you want to know more? Click on the link: https://finwhalex.com