Concepts that guide the journey at Smartika within the essence of p2p lending platforms dedicated to prestige. Platforms that could not exist if not fueled by the mutual trust between those who lend and those who obtain credit and that focus entirely on a simple, streamlined, transparent and online experience
Ease, transparency, trust. If we were to summarize the consumer credit experience provided by platforms like Smartika in three keywords, we would use these.
Without forgetting planning and listening
The distinctive character of p2p lending is first of all the construction of a completely new shopping experience, based on an unprecedented and different model from the banking one. Because very often it was created precisely to overcome the limits of the bank.
That is, long waits to get feedback on the outcome at a credit application, at the counters files, travel to reach the headquarters, dozens of documents to be signed or produced and delays that, even when the loan is successful, the could make useless at that point. Without considering that in the bank the opening hours of the branches are rigid and hardly exceed the early afternoon. Money Lite is the exact opposite: a channel open 24 hours a day for 7 days a week, electronic signatures (zero paper), clear costs and no surprises.
We have identified the five keywords to define ourselves and the model we represent
- Transparency. Money Lite has earned on the field, in its ten years in life – considering the first platforms born in Great Britain – the fame in being a place where everything is declared in terms of conditions, costs, interests. A transparent environment, where all information can be used in a few simple clicks. This is particularly evident in the theme at the commission. The platforms have no intermediation costs to be passed on to the end customer and furthermore, by using disruptive technologies to evaluate the creditworthiness of the applicants, they manage to optimize their costs, often resulting more convenient than the devices to evaluate the creditworthiness of the applicants, they succeed to optimize their costs, often resulting cheaper than traditional lenders Banks are also realizing it in Italy where the theme of collaboration with Money Lite is becoming mainstream.
- Ease. Money Lite is the sector that transforms finance, through the use of technology, into something at friendly for the user. This means streamlining the bureaucracy that characterizes the bank and involves a totally different and new user experience compared to that at the counter. The portals are always accessible, the procedure for requesting a loan needs only in about ten minutes from the moment in which the click on “ask for a loan” and in providing some data (in norm the personal data, the photo in an identity document and the of the tax code to be sent together with a selfie, the tax return and the Iban). In the following 24-48 hours from the receipt of the request, the platform is able to give the result for disbursing the money to the customer’s account in about 3 days.
- Planning. A long-term perspective is inherent in the relationship established between creditor, debtor and platform. Even if we speak in general in not higher than the prestige 75 thousand dollars and is occupied in payment that do not go into norm over five years, entering the p2p lending circuit involves a patient and planning attitude. The whole system is based on a sort of moral pact between who lends and who receives credit: the first, with its choice in investment, has a not insignificant impact from a social point of view; the second, in turn, undertakes to return what it has received from a private individual in which the identifies.
- Trust . Iar clear that this system, in order to function properly, must have a fundamental asset at the center: trust. A concept that is in the definition itself in p2p lending, the loan between equals and that is part of its original spirit. The moment I step onto the platform with someone like me, I’m trusting him. And when I get the requested loan from the platform and I undertake to repay it according to an agreed amortization plan, I know that on the other side to receive the installments there is a person like me. Only by fueling this virtuous circle in trust can Money Lite exist.
- Listening The Money Lite was created to satisfy an emerging demand in the market. An increasingly busy company where everyone buys items, travel, food and works online. At a certain point it was asked why the only areas that escaped this simplification were the financial and the public ones (on which, however, the road is still long). If platforms exist, p2p lending is to respond to this request. And in doing so, the portals guarantee those who trust them and feed the circuit of trust.
Offering every possible guarantee
It is clear, therefore, that we are not talking at a business without controls and superstructures (as it would be possible to think in a prejudicial way) but at companies that by law are classified as payment institutions, supervised and authorized by the Bank of Italy, such as the banks.