Finovate - Conferences Showcasing the Future of Financial & Banking Technology
Check out FinDEVr


TopicsTopics   TopicsArchives  

Weemba Plays Matchmaker For Borrowers

Thumbnail image for weemba.jpgAfter yesterday's CNNMoney article portrayed Lendio as a matchmaker, Bank Technology News published an article entitled, "Matchmaker Matchmaker, Make Me a ... Loan?" that shows Weemba in the same light.

This article, however, highlights Weemba's role as a friend to borrowers by treating them more as a partner than a product. Here are Weemba's borrower-friendly features:

    • Potential lenders are screened for predators 
    • The borrower decides when to open up communication
    • The borrower controls which personal pieces of information the lenders see
    • Borrowers do not pay fees, lenders do
It also gave some stats on the startup:

    • Loan requests are between $1,000 and $5 million
    • 2,000 members
    • 32 lenders
    • Competitors includes Kiva, Prosper, and Lending Club
City National Bank of Miami has been working with Weemba since launch. 

To learn more about Weemba, watch its FinovateFall 2011 demo.

Watch Demos

Click above for video archives of all demos.



See all Finovate tweets