Investigating peer-to-peer lending with Wonga
The experienced team at Wonga wanted to get their new peer-to-peer lending platform to market quickly. However, a lack of specific background in building P2P systems, coupled with internal restraints on resources. led them to seek support. Our track record of building and launching P2P sites within their timeframes meant we were a perfect fit.
The 10-week target was a challenge; but one that we embraced. Wonga had explored the possibility of building their own system, but concluded that the cost, time and uncertainty involved were not conducive to meeting their deadlines, especially given the pace of growth in the market.
We deployed the world’s first pay-day-loans P2P solution. By incorporating their business model and technological requirements, we were able to provide a reliable platform quickly. They accessed opportunities to arrange finance and their site went on to take over 200 applications in the first few weeks alone.