Open Banking Apps – P2P Lending

OFS recently reached an agreement with Norwegian company Lendonomy to develop and maintain a blockchain – based application that allows users to lend and borrow money while building a blockchain -verifiable credit history.

How it works: When you first sign up you are not allowed to borrow big loans. They have a concept with a “trust tree” where you earn points that enable you to borrow and lend more money over time. The initial target group are largely students and families with young children who need to borrow small amounts.

More information can be found on www.lendonomy.io

By john michael smith

Experienced International Software Account and New Business Manager, gained in the IT Security & Office Automation Fields, mainly within the vertical markets of Finance, Banking, Insurance & Manufacturing Industries.

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