automatic money lending website
Budget: €1,500 – €3,000 EUR
Overview
The Automated Loan Management System is designed to facilitate seamless loan management between administrators and borrowers. The system automates transactions, tracks borrower progress, and manages user accounts, thereby reducing manual intervention and increasing efficiency.
The users side should be translated to Danish.
Key Features
--Admin Panel--
- Automated Fund Transfer: Upon loan approval, the system automatically deducts the loan amount from the admin’s bank account and transfers it to the borrower's account. For example, if a borrower purchases goods worth $750 , the admin’s account is debited $500.
- Loan Confirmation: Admins can confirm loan repayments without borrower intervention, ensuring accurate tracking of loan statuses.
- Loan Management: Admins can view and manage all active loans, including confirming payments and deleting users from the system.
--Borrower Portal--
- Loan Repayment Confirmation: Borrowers can log in to confirm repayment, triggering a level-up process that grants access to more expensive items.
- Spending Flexibility: Borrowers can purchase multiple items up to their maximum loan limit, with varying interest rates based on their choices.
- Automatic Purchase Authorization: Borrowers can purchase items directly without admin approval if they are eligible based on their current level.
- Interest Rate Calculation: The system calculates interest rates dynamically based on the borrowed amounts and items selected, providing transparency to borrowers.
- Step by step guide for the first time.
--Level System--
- Loan Amounts and Interest Rates: Borrowers advance through levels, each with predefined loan limits and interest rates. Higher levels allow larger loans and access to more expensive products.
- Loan Repayment Tracking: The system tracks total returns and admin’s wallet balances before and after loans, ensuring financial oversight.
--User Updates and Compliance--
- Periodic Documentation: Borrowers must upload new pay stubs and a photo of their residence every three months.
- Automated Updates: Changes in borrower account information trigger automatic updates in the Stripe withdrawal system, with admin notifications and approvals for sensitive data changes.
--Product Management--
- Interest Rate Display: The product page displays interest rates for each item, helping borrowers understand the cost implications of their purchases.
- Digital Goods: Admins can attach digital products to the borrower’s purchase, which are sent via email upon completion.
--Consequences of Non-Payment--
- Lockout Mechanism: Borrowers failing to repay are locked out of the system, preventing further borrowing until the outstanding amount is cleared. They revert to level 0 upon reactivation.
- Account Information Updates: Locked-out borrowers can still update their account information, and any changes trigger automatic deductions for outstanding amounts via Stripe.
--User Creation and Management--
- Referral System: Only users referred by an admin can create accounts. Admins send registration links, and borrowers must upload necessary documentation for approval.
- Documentation Requirements: New borrowers must provide detailed personal and financial information, including pay stubs, identification documents, and bank details.
--Technical Specifications--
- Integration with Stripe: For automatic withdrawals and payments.
- Admin and User Portals: Separate interfaces for admins and borrowers to manage their respective tasks.
--Ideal Skills / Experience--
- High proficiency in front and backend website development
- Expertise in secure financial tech applications
- Experience in creating user-friendly portals
The website needs to be high-performing and secure, ensuring sensitive information is always protected. Experience in the financial tech industry will be highly advantageous for this project.
The Automated Loan Management System is designed to facilitate seamless loan management between administrators and borrowers. The system automates transactions, tracks borrower progress, and manages user accounts, thereby reducing manual intervention and increasing efficiency.
The users side should be translated to Danish.
Key Features
--Admin Panel--
- Automated Fund Transfer: Upon loan approval, the system automatically deducts the loan amount from the admin’s bank account and transfers it to the borrower's account. For example, if a borrower purchases goods worth $750 , the admin’s account is debited $500.
- Loan Confirmation: Admins can confirm loan repayments without borrower intervention, ensuring accurate tracking of loan statuses.
- Loan Management: Admins can view and manage all active loans, including confirming payments and deleting users from the system.
--Borrower Portal--
- Loan Repayment Confirmation: Borrowers can log in to confirm repayment, triggering a level-up process that grants access to more expensive items.
- Spending Flexibility: Borrowers can purchase multiple items up to their maximum loan limit, with varying interest rates based on their choices.
- Automatic Purchase Authorization: Borrowers can purchase items directly without admin approval if they are eligible based on their current level.
- Interest Rate Calculation: The system calculates interest rates dynamically based on the borrowed amounts and items selected, providing transparency to borrowers.
- Step by step guide for the first time.
--Level System--
- Loan Amounts and Interest Rates: Borrowers advance through levels, each with predefined loan limits and interest rates. Higher levels allow larger loans and access to more expensive products.
- Loan Repayment Tracking: The system tracks total returns and admin’s wallet balances before and after loans, ensuring financial oversight.
--User Updates and Compliance--
- Periodic Documentation: Borrowers must upload new pay stubs and a photo of their residence every three months.
- Automated Updates: Changes in borrower account information trigger automatic updates in the Stripe withdrawal system, with admin notifications and approvals for sensitive data changes.
--Product Management--
- Interest Rate Display: The product page displays interest rates for each item, helping borrowers understand the cost implications of their purchases.
- Digital Goods: Admins can attach digital products to the borrower’s purchase, which are sent via email upon completion.
--Consequences of Non-Payment--
- Lockout Mechanism: Borrowers failing to repay are locked out of the system, preventing further borrowing until the outstanding amount is cleared. They revert to level 0 upon reactivation.
- Account Information Updates: Locked-out borrowers can still update their account information, and any changes trigger automatic deductions for outstanding amounts via Stripe.
--User Creation and Management--
- Referral System: Only users referred by an admin can create accounts. Admins send registration links, and borrowers must upload necessary documentation for approval.
- Documentation Requirements: New borrowers must provide detailed personal and financial information, including pay stubs, identification documents, and bank details.
--Technical Specifications--
- Integration with Stripe: For automatic withdrawals and payments.
- Admin and User Portals: Separate interfaces for admins and borrowers to manage their respective tasks.
--Ideal Skills / Experience--
- High proficiency in front and backend website development
- Expertise in secure financial tech applications
- Experience in creating user-friendly portals
The website needs to be high-performing and secure, ensuring sensitive information is always protected. Experience in the financial tech industry will be highly advantageous for this project.