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Financial Technology Services Firm

Real-time settlement through a distributed blockchain architecture

Blockchain-based solution

Situation

Lendwill, a fintech company, was looking to release a peer-to-peer, mobile-based lending application that could perform direct bank-to-bank transactions and securely store sensitive data. In addition to these requirements, the company sought to leverage blockchain technology to build a global verifiable credit history to stand out in the market. Its investors loved the idea of the application, so the company began looking for a development partner. As a result of Relevantz’s established thought leadership and expertise in developing blockchain-based enterprise applications, the company turned to us.

Impact

Lendwill needed to bring the application to the market quickly to satisfy its investors and to fend off competitors. There was therefore immense pressure from investors to onboard a team to develop the application.

Resolution

After conducting design thinking workshops with Lendwill to see how blockchain could help, we developed a scalable and high-performance blockchain-based solution. With it, Lendwill was able to automate the lending, borrowing, and trust management process using smart contracts on a blockchain. This resulted in real-time settlement and auditing with reduced processing times.The peer-to-peer, mobile-based lending application could also:

  • Integrate with banks through Open Banking APIs and PSD
  • Derive transparent and dependable trust scores due to the immutability of blockchain technology
  • Securely store credit information, trust scores, and transaction data with distributed blockchain architecture

Outcomes

For Lendwill who were, looking for a scalable and high-performance platform for its business, we enabled:

  • Successful launch of its peer-to-peer, mobile-based lending application
  • Revolutionized user experience for Gen Z and millennials
  • Real-time settlement and auditing with reduced processing times

“I wouldn’t have done it without the blockchain and software expertise of Relevantz. Building a cloud-native blockchain product takes serious knowledge that Relevantz has in abundance. We are honored to have been working with you.”

Osmanova Anzhelika

Entrepreneur, Founder & CEO, Lendwill