Vancouver, British Columbia, Canada – April 24th, 2018 – Subscribe Technologies Inc. (CSE: SAAS, OTC Pink: SRBBF, Frankfurt: 6GQ) (“Subscribe or “the Company”) is pleased to announce the beta launch of LenderTech, a software as a service (SaaS) based financial lending platform, at www.lendertech.com.
For its part, the LenderTech platform helps facilitate greater and broader access to capital for those in need, including across a number of traditional and emerging areas such as mortgages, commercial lending, auto loans, student loans, and small business loans, among others. While also serving more traditional channels and applications, the Company also envisions the Lendertech platform to be of particular service to the impact investing and microfinance communities, as these stakeholders work to empower low income communities in developing countries around the globe.
According to Research and Markets, the global microfinance market, that is investments in micro, small and medium enterprises, as well as the provision of financial services to those businesses, is forecast to grow 15.56% from 2016 to 2020. Put into perspective, as of late 2016, there were 123 million customers at microfinance institutions worldwide, for a loan portfolio of approximately $102 billion. (BNP Paribas)
At the same time, the International Financial Corporation (IFC), a World Bank Group, suggests nearly three billion people in developing countries have little or no access to formal financial services. They further suggest that financial services for poor people are a powerful instrument for reducing poverty, enabling them to build assets, increase incomes, and reduce their vulnerability to economic stress, where formal financial services such as savings, loans, and money transfers enable poor families to invest in enterprises, better nutrition, improved living conditions, and the health and education of their children. For its part, Planet Finance Japan suggests 80% of the world’s population has no access to loans, while the Association of Microfinance suggest more than 200 million small businesses may lack access to adequate financing, a basic savings account, and other financial resources.
As such, through LenderTech, the Company intends to help improve these conditions by providing an easy to use cloud based loan management platform for lenders, that helps keep track of borrowers, loan approvals, payments and missed payments, accrued interest, and human resources, among others. The platform has been specifically designed to simplify the task of the entire lending lifecycle including borrower management, from loan origination to debt collection, where management believes the platform allows for better evaluation of borrowers, decision making support, and online-lending process automation as well. Meanwhile, the platform also services mortgages, simple interest, revolving credit, bi-weekly and other methods of interest calculation, where, with no upfront fees and a trailing transactional fee model for its customers charged on a per loan, performance basis, the Company feels Lendertech represents an easy to use, affordable, versatile, and professional loan servicing software solution for lenders around the world.
At this time, the Company is currently accepting a limited number of beta-testers to participate in new feature development and bug tracking, where, upon completion of the Beta phase, the Company intends to release the platform with a full service launch. At the same time, the Company is also currently exploring integrating new features into the platform, including cryptocurrency based lending, direct peer to peer matchmaking, reputation powered lending and borrowing capabilities, and a potential loan auctioning feature for borrowers as well, not to mention the deeper potential integration of further Blockchain technologies into the platform, as and where may be appropriate.
President and CEO Paul Dickson states, "We’re very pleased with the beta launch of LenderTech, and look forward to fully leveraging the potential this high impact financial platform may bring to aspiring entrepreneurs around the globe.”
To sign up and explore the new LenderTech platform, please visit www.lendertech.com.
About Subscribe Technologies
Subscribe Technologies (CSE: SAAS, OTC: SRBBF, Frankfurt: 6GQ) develops, partners with, acquires, and invests in cloud based distributed ledger compatible software as a service (SaaS) solutions for small and medium sized enterprises (SMEs).
To learn more about Subscribe Technologies, please visit: www.subscribetech.com.
On Behalf of the Board,
President & CEO
T: (778) 775-7297
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Subscribe Technologies Inc. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and the company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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