P2P Lending

P2P lending has gained momentum as the internet becomes more widely used everyday and people lose more confidence in traditional financial institutions. P2P lending, or peer to peer lending, is a financial transaction that takes place between two individuals, without the involvement of a traditional lending institution, such as a bank or credit union. The internet has created many online marketplaces, where people with cash can offer it directly to people in need, and the interest rates are typically worked out in some sort of bidding process. There is also friend and family P2P lending, where people who know one another enter into a transaction directly with one another.

Kwik-Loan is a suite of software tools that was originally developed for the consumer finance industry. But as borrowers and lenders get more creative in how they do business with one another, Kwik-Loan believes that service providers who can make these processes more efficient will find ways to add value. Please contact us if you would like to learn more about Kwik-Loan and P2P lending.

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Credit Central has been using EnCompass for more than a year and a half now. To begin with, the Compass staff was very helpful in converting our old data over to their real-time platform. The b...

David Terrell, Credit Central

Previously, we were running on a system that required a server at each location. Our branches had to run daily reports and forward to the home office where we consolidated them for management review....

Brad McClure, Central Financial Services

By moving to the Compass Kwik-App program, Kitch as been able gain an edge on competitors by electronically providing all necessary loan documents to our indirect dealers. Dealers love the fact that ...

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