Money is never enough. Every day we are seeking ways to earn an extra dime. The Digital Lending Platform is a good way to start.
We all need some extra cash, having a side gig is the best way to make cash streaming in. Of course, there are many other ways one can use it.
What is a Digital Lending Platform?
This is a simple point of sale program that helps people transact online fast and easily. This program changes how one lends and borrows.
It is a simple way to transact online and affect business transactions. It is also a safe way to keep transaction records and keep working flexibly.
What is digital lending?
It is a simple way of offering cash to borrowers through digital channels. It is a new way to use technology to reach people and offer money and many assets.
Lenders use digitized data to make decisions on account resolutions and develop exceptional customer engagement.
How does it work?
It’s an online platform which makes it a two-way transaction. Both lenders and borrowers have first to register.
Once the lender has registered and set up the business, they get a platform that can allow them to lend and accept customers into their platform.
However, before lending occurs the borrower must agree to the lender’s terms.
How do you build a Digital Lending Platform?
A lending platform is a good way to keep track of transactions being done. It also helps simplify the workload.
Everyone starting a lending business needs a digital lending platform. This boosts and helps keep the business transactions safe.
Here is how to build:
1. Research
It is the best way to start. One needs information on the market, challenges, and how the business works.
Research is key also in finding out about other institutions offering the same and how one can better their services.
Consider doing thorough research to save you many avoidable hassles. It also saves time and cost one would incur.
2. Register the company
This is establishing the business to the law. It is also making sure the legal firms recognize your business operations.
One ought to visit the legal offices and get the right licenses to transact smoothly. Different countries have different requirements.
There are different ways to register; it’s up to you to find the right way to keep the business legal and recognizable.
3. Create an online presence
Websites have become a great way to keep people informed. It also increases trust from customers and those aspiring to transact with you.
Well, good news; start that website for free! Free? Yes absolutely free to start and start sharing with the world.
So how do you start free?
Simple join OLITT:
OLITT is a free site builder that allows one to create and go live in less than 10 minutes.
It also offers a lot for everyone and doesn’t require any special skills to use it.
Create that free site and share easily.
4. Register a hosting and domain name package
Hosting is what keeps your site up. However, when you use OLITT your site is hosted for free, you need just to register for the domain.
A domain name is a name that customers use to find your site. A good name should be simple yet informative. Read more here:
At Truehost, it’s easy to get a domain. One just needs to visit the site and key in the domain name they need.
Truehost finds if the name is already taken or it’s not. One then chooses the right extension to use for their site.
Get more insights here.
5. Find funds
These are the driving force; of course, one also needs passion, dedication, and commitment. Funds help with start-up and registration.
It helps pay for many other services the business needs. One can consult investors or use their assets and start-up.
One also needs to be careful when seeking funding. There are many scams out ready to prey on those desperately seeking capital.
6. Hire the right team
These are the ones who will help you run the business. Having qualified candidates is not enough. One needs the right team that solves all issues.
Customers need to feel safe when transacting. They also need to feel satisfied with the services they get.
Take time to evaluate each member before adding them to your team. The right team will boom and make the business grow.
7. Develop and test the platform
The platform is the one uses to transact. However, the site ought to be safe and user-friendly to help clients transact smoothly.
Make good research and hold promotions to create awareness. Have a way to verify users to prevent incurring fraud and losses.
Test the site:
This involves running a series of assessments to certify the site. These tests help one know how it will perform and what to change it.
Consider the following:
- Usability– how will the site look like? Will the clients interact and use the site smoothly? A good site should be simple, navigable, and user-friendly.
- Security– how secure is the client’s data? A good site should be safe and protected against malicious people.
- Performance– does it have downtime? How well does it perform when many clients access it? A good site ought to be scalable and flexible to accommodate many customers at once.
8. Launch the site
This is the final step. Once the tests have been conducted and passed it’s time to go live. This means that clients can start transacting with you.
One also needs to consider this:
- Customer support system– it serves to help smooth customer transactions. One needs to have a plan that will solve technical and all issues.
Always strive to provide the best and maintain this since this business is competitive. The right team contributes a lot.
Always start small and aim for high results as the business grows. Remember to be honest don’t overpromise and underdeliver.
Digital Lending Platform has come to ease transactions. Here is also some other financial solution to help you lend. Yes, help with the workload and efficiency.
Introducing Jisort:
It is a web-based financial accounting software automating transactions for Microfinance Institutions, SACCOs, Banks, Cooperatives, Credit Unions, Lending Organizations, and other financial institutions.
Jisort is used to manage clients’ information, keep track of their transactions and generate reports and business statements.
Here is the system demo:
The demo shows:
- Simplicity– in that it is an all-in-one platform that is easy to use.
- User-friendly– one doesn’t require any special skills for running the system.
Jisort has been up and running for over 6 years. It has helped thousands of both local and international clients.
However, it has specialized in the building of core banking systems and applications by applying the latest technology.
For that reason, it can easily be integrated with banks and other payment gateways. Jisort Core Banking System has successfully integrated with:
- Banks
- M-Pesa
- PesaLink
- Credit Reference Bureaus (CRBs)
- Vodacom
- Tigo
- Among others
Why use Jisort:
Jisort uses confidence and dedication are drawn from the success stories of our clients. This means that feedback helps them improve and provide the best.
It also offers an alternative real-time integrated banking channel that allows Financial Institutions to offer banking services with minimum cost.
Here is a reason to use Jisort:
- It is simple- get all under one platform, make transactions easy and fast through automation.
- It is affordable– for as little as $20 one can manage all their customers fast and easily.
- Report and business statements provided- get details of all transactions and generates statements fast.
- Payment options- it has integrated with many payment methods allowing flexibility and on-time payments.
Jisort is the best system to implement. It provides you with the best tools necessary to run that business. Read more about Jisort here.
Sign-up for Jisort now and continue growing the business. Save time and hassle by using Jisort as your financial book store.
Record keeping is crucial in all businesses. It is also usable when planning and gives one an overview of the business performance.
Those using the Digital Lending Platform can attest to making profits, saving time, and good customer satisfaction. Boost the business fast and easily.
