Creating a digital marketplace for corporate loans
Corpia offers individuals and companies the possibility to invest in small and medium sized companies by giving out loans, thru their peer-to-peer lending platform.
Corpia was founded 2012 and has since then helped finance companies thru lending capital in a responsible way. The vision for the project is to create a marketplace for loans that connects investors and lenders in a secure, responsible and easy way.
The main challenge has been to develop a transaction platform with banking-grade level of security together with the flexibility of a modern open-source platform. The system would be responsible for handling money transactions, business logic and payouts. This requires secure logins, databases and multi layered secure architecture that few open source system could provide.
On top of this was the requirements of having a dynamic and beautiful front end user interface that is fast and easy to manage.
In order to realize the vision we chose to divide the solution in three parts/services - all with their separate responsibilities.
The backend system is responsible for all business logic, money transactions and secure data. It has an API that only the Marketplace service can consume. The system was custom created in Java and is hosted on secure servers behind many firewalls.
The marketplace is the actual web portal where end users interact and request loans and invest. It can be considered as the front end of the architecture. It is built on Silverstripe CMS, and hosted on Silverstripe Cloud for maximum security. It uses data from the backend together with its own data to give the best user experience possible.
The backoffice is the admin-system for managing all data in the Backend. The system is only for the administrators of Corpia, and gives overview and data of all loans and investments requested by the end users. It has a dashboard with relevant overviews, special triggers and actions connected to users, transactions and accounts. The system is built on Silverstripe Framework and is secured behind a IP & network wall.
On top this further products and services - specifically for the Swedish market - were integrated.
The architecture uses the Swedish identification service BankID for fast and secure logins, and verification of the users in both the Marketplace and Backoffice.
The official Swedish payment method Swish is used for helping investors deposit money to their account, with fallback for other more traditional payment methods.
When a loan is applied the system then fetches all information of the company and the credit score of the company thru the integration to Creditsafe.
Corpia is today a loyal client with good experience of Silverstripe CMS. Their system is flexible, secure and futureproof in the sense that it should be ready for any new typs of business requirements.