01:22:45 EDT Tue 19 Mar 2024
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Subscribe Technologies Inc
Symbol SAAS
Shares Issued 38,177,670
Close 2018-04-24 C$ 0.11
Market Cap C$ 4,199,544
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Subscribe beta launches LenderTech

2018-04-24 07:57 ET - News Release

Mr. Paul Dickson reports

SUBSCRIBE TECHNOLOGIES LAUNCHES FINTECH BASED FINANCIAL LENDING PLATFORM "LENDERTECH" IN BETA

Subscribe Technologies Inc. has beta launched LenderTech, a software-as-a-service-based financial lending platform.

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 per cent 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 Corp. (IFC), a World Bank group, suggests nearly three billion people in developing countries have little or no access to formal financial services. It further suggests 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 per cent of the world's population has no access to loans, while the Association of Microfinance suggests 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 life cycle including borrower management, from loan origination to debt collection, where management believes the platform allows for better evaluation of borrowers, decision making support and on-line lending process automation as well. Meanwhile, the platform also services mortgages, simple interest, revolving credit, biweekly 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 chief executive officer 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."

About Subscribe Technologies Inc.

Subscribe Technologies 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).

We seek Safe Harbor.

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