Loanbook: Bridging the gap between investors and businesses with one solidified platform

10m read

What is Loanbook - XChange?

Loanbook is a software that helps financial institutions and lenders come together in one large online marketplace. Financial institutions like banks and insurance companies can come together and efficiently manage their loan and deposit portfolios. Moreover, Loanbook – XChange serves as a portfolio as a platform to diversify their portfolios or increase their exposure to certain loan types or industries. Thus, it facilitates trading of loans with institutional investors or other entities in the loan market.

Essentially, Loanbook – XChange helps in the secondary market with loans, where loans can be transferred or traded between financial institutions or other stakeholders. Mainly, it can be beneficial for lenders looking to optimize their portfolios or for those looking to gain exposure to different types of loans without having to originate them themselves. The software is standing tall in the multi-trillion market, serving big names in the global financial market.

Problem statement

Loanbook was founded by Siddharth Bhandari in 2017. First named Depositbook, Siddharth and his team wanted to introduce digital transformation in the financial field and thus began the journey of Loanbook. The market practices were heavily reliant on paper-based processes, voice communication, and traditional relationship-driven transactions, which Siddharth and his team wanted to change. And the solution was to transition these practices to digital solutions and speed up transactions in an increasingly fast-paced digital world. They collaborated with us at Momentum91, to develop XChange – a platform that can be a full-fledged solution to connect top regional and global banks and bring about a positive change in how transactions take place in this multi-trillion-dollar market. Today, Loanbook not only offers XChange but other solutions as well like TradeX, XRay and more.

Our involvement – Website design & development & Product development.

Website designing and development

The website for LoanBook was created by our talented website designer on Figma. Our focus was to create a professional-looking website that would reflect its position as a top financial service provider in the financial market. The website is created in a rich hue of dark blue and white, proclaiming the website’s position in the market as a top leader. Having 7+ pages, it is available both on mobile and web, having super mobile and web responsiveness. In addition, it also shows information about the product and the different solutions it offers.

Developing the product

Regarding the product, we created Loanbook’s XChange platform, for financial institutions to effortlessly lend to each other. Loanbook’s backend we created using Python, one of the finest programming languages, and for frontend our developers used React. Based on the information provided, there were 2 stakeholders involved: Partner Banks & Depositors. We created the signup journey in such a way that the depositor can register on the platform and create a central account.

With the account, the depositor can view the rates of the partner banks and also select which financial institution/partner bank he wants to partner with. Upon selecting the offering, the account would be collected in the custodian bank and then transferred to the partnered bank. And after that, through the platform the receipt can also be generated. The whole flow was created in a seamless way, so that the depositor can have a smooth transaction. The features supported data visualization. Moreover, we also created a custodian account on behalf of both the stakeholders, so they can view the rates shared, and with loanbook becoming the mediator facilitating the transaction between both the parties.‍