Social Lender
Social Lender is a digital financial service platform that uses social reputation as alternative collateral for individuals lacking formal credit histories. The company's proprietary algorithm performs a social audit across mobile, online, offline, and social community platforms to generate a Social Reputation Score that guarantees access to credit, savings, and leasing products from banks and other organizations.
- Financial Technology
- Software Only
Funding
Funding not disclosed
Founders
Founder details are not available yet.
Product
Problem
Millions of individuals, particularly in emerging markets, lack formal credit histories and collateral, limiting their access to traditional financial services like credit, savings, and leasing. This financial exclusion forces them to rely on informal lenders or remain outside the formal banking system, stifling economic opportunity and upward mobility.
Solution
Social Lender provides a digital financial service platform that leverages social reputation as an alternative form of collateral to bridge the access gap for underserved individuals. The company uses a proprietary algorithm to perform a social audit across mobile, online, offline, and social community platforms, generating a Social Reputation Score for each user. This score serves as a guarantee for financial services, enabling banks and other organizations to extend credit, savings, leasing, and related products based on the strength of a user's social profile and network. By turning social capital into financial capital, Social Lender empowers users to access services they would otherwise be denied.
Target Audience
Primary users are individuals with limited access to formal financial services who need credit, savings, and leasing products, along with banks and other organizations seeking to extend financial services to this underserved market using social reputation as a guarantee.
Features
- Proprietary social algorithm computes a Social Reputation Score based on a user's mobile, online, offline, and social community activity
- Integrates social network connections as a form of social collateral to guarantee financial services
- Supports access to multiple financial products including credit, savings, and leasing
- Designed for rapid cash requests with a quick, simple user process as demonstrated in platform walkthroughs