P2P Company Lendit Receives Top Grade Certification in Technology Credit Evaluation

Lendit Loan and Investment Process

[Asia Economy Reporter Kim Min-young] Peer-to-peer (P2P) financial company Lendit received a top rating in a technology credit evaluation.

On the 11th, Lendit announced that it was certified with a 'TI-2' grade in the technology credit evaluation conducted by the credit rating agency NICE Information Service.

The technology credit evaluation is a technology certification system established by the government to promote technology finance. A credible Technology Credit Evaluation Body (TCB) comprehensively analyzes and evaluates a company's technological capability, rights, marketability, and business feasibility, and assigns a grade accordingly.

Lendit obtained this grade through the NICE Technology Credit Evaluation (NICE TCB) conducted by NICE Information Service.

NICE Information Service's evaluation grades range from TI-1 to TI-10, with TI-2 being the second highest grade classified as 'very excellent.' According to NICE Information Service, the TI-2 grade is awarded to companies with 'very excellent technological capabilities and future growth potential based on a market with strong growth prospects.'

Lendit added, "This means that we possess technological capabilities equivalent to those required for KOSDAQ technology special listing conditions as well as those of listed companies and large corporations."

Founded in 2015, Lendit is a tech-finance (technology + finance) company with core competencies in big data analysis and machine learning technology. Based on these technological capabilities, it operates a 100% online, non-face-to-face P2P financial platform connecting borrowers and investors.

They have developed and are operating the Lendit Personal Credit Evaluation System, a machine learning-based borrower screening and evaluation model. This system analyzes over 300 types of financial data provided by credit rating agencies to calculate a personalized appropriate interest rate for each loan applicant. A key feature is the analysis of recent 12-month trends in various financial data. Additionally, the company explains that it comprehensively reflects fraud information sharing data, workplace credit information, and repayment information provided by credit rating agencies.

In the investment field, they developed an algorithm based on big data analysis that recommends real-time diversified investment portfolios.

Kim Sung-joon, CEO of Lendit, stated, “Ahead of the registration application for online investment-linked finance business starting on the 27th, we have been certified by NICE Information Service for the core capabilities required to operate a P2P financial platform. We will continue to focus on technology development and grow into a tech-finance company that calculates personalized appropriate interest rates for every borrower.”