“In many emerging countries, it is cumbersome for people to prove their identity and access financial services,” said
“Social networks have enabled people to become more empowered by their reputation, helping them achieve their financial goals and ultimately provide them with something tailored for their individual needs,” said
The app allows members to join Lenddo, connect their social media accounts including Facebook, Google, LinkedIn, Yahoo! and Twitter and obtain a LenddoScore. Based on the LenddoScore they are eligible to access financial products for educational purposes, healthcare, home improvement or small business support. The app also allows members to invite Trusted Friends to join their path to achieving their goals and act as character references for loans, bolstering the trustworthiness and financial credibility of the Lenddo community.
“We came up with this idea after being inspired by the pioneering microfinance work of Nobel Peace Prize winner,
Lenddo's mission is to economically empower the middle class in developing countries. To accomplish this, Lenddo has created the world’s first online platform that allows members to use their online social connections to prove their trustworthiness and access local financial services.
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