SAVY is a virtual lending platform, implementing the peer-to-peer or marketplace lending model, which was developed in the UK in the middle of last decade. It works like this: Internet users who are looking to invest money lend directly to other users who wish to borrow money. They do this through our platform which, because of the technology used, acts as a powerful intermediary. The platform not only brings together lenders and borrowers, but also reduces the risks for both sides, all while automating and simplifying the process.
SAVY is an underwriting and brokering platform. Lenders register on our site together with those who are looking for an easier way to borrow money. Users wishing to obtain a loan are verified by the Bank of Lithuania’s policies for responsible lending regulations: analysis of credit history, income and financial obligations ratio, and so on. After verification, borrowers become eligible for loans from lenders registered on the platform. SAVY does not perform any direct monetary transactions. We only carry out the risk assessment, underwriting and auction process, data which of course is transparent and available for all users. The actual transfer of money from lender to borrower occurs on the integrated platform PaySera, which is an electronic payment service licensed by JsC EVP International.
The SAVY platform in Lithuania is managed by UK registered company New Chartered Limited… Continue reading about SAVY here