Fintech is one of the hot topics these days. It seems that innovation has come for the financial sector, and it’s coming for it hard.
More and more people are getting access to new types of services – and simple ones that make their financial lives easier.
From payments to insurance, from lending to investing, the landscape is more and more competitive, and options available to consumers have never been so big.
Today we will take a look at one of those companies that is trailing its way into our lives with a very compelling offer.
Iban Wallet – a democratizing agent
Iban Wallet, in its essence, provides access. It is an online financial marketplace where several products are available to those that register on their platform.
And access is actually the key-word in this case. Not only is user experience very user-friendly, but the requirements to start using it are very easily met, which means that virtually anyone can use it to start getting returns on their investments.
First of all, you can start exploring the platform for as little as $1/€1. This gives you plenty of space to get acquainted to all of its features and offers.
Moreover, it is completely free to use. There are no commissions or service fees whatsoever – everything you put into it goes towards your investments. They might be fees if taking the money out before time in some accounts.
Adding more freedom to your experience, with their entry product – the Iban Account – you are able to request withdrawals of your funds at any time.
How it works
The way they are set up takes advantage of a lean technological structure with low upkeep costs, which is how they are able to offer these rates.
The platform acts as an intermediary in lending money. Investors are able to get returns on their capital by providing it to Iban Wallet, who then connects with several loan originators that have already underwritten and issued loans to borrowers.
Since the loan originators’ rates are higher than those they offer Iban Wallet, they are able to make a profit on that difference, while covering their own operational costs. The borrowers are able to access capital and investors can get their returns.
What protections are in place?
First of all, there are the technical security features provided by the platform. You can set up different identification options, and for sensitive operations a 2 factor identification is required.
On the investment side, all loans are asset-backed (meaning a collateral can be executed in case of default), and your investment is tied to several aggregated loans, never exposing you to the performance of one specific loan.
The loan originators also provide a Buyback Guarantee, by which they are obligated to repurchase the loan at the nominal value of the investment, plus interest accrued, should the loan obligations be delayed for more than 90 days.
Finally, there is a Safeguard Trust in place, comprised of a capital reserved set aside to cover any issues that may arise with the loan originators.
The offer on innovative financial services has never been greater. Everyday new and better solutions keep appearing, and the traditional complicated and rigid institutions we were used to will need to adapt or move over.
So this is the perfect time to join an ever growing community of people getting fairer returns on their funds.
There are a lot of other players out there, but I strongly recommend that you take Iban Wallet into careful consideration, as it seems to be one very straightforward and compelling offer.
What do you think? Do you have any experience with Iban Wallet? Share your experience in the comments!