Tarya – the Israeli P2P lending platform – has recently introduced an employee loan system with a view to making lending more secure.
The platform launched earlier this year to provide a service for people to invest in fellow community members who require consumer credit – and has placed an early emphasis on “stringent underwriting algorithms”. Tarya will therefore be introducing an innovative new credit scoring product, which will enable it to perform a faster and more accurate ranking of potential borrowers.
But the truly distinctive element of the platform is that it is not only offering loans to the broadly defined general public – but also to the employees of external companies. These “employee loans” allow employers to partner with Tarya in order to offer highly attractive deals to their workforces.
So how does this system work?
Tarya is of the belief that this system introduces safer borrowers to their platform – and a new form of P2P lending with the potential to be a game-changer. The Israeli platform reckons that the concept offers the lender the unique ability to invest in social loans, without the high risk tag-on typically associated with such social investments.
A Tarya representative explained:
“Joining forces with local organizations from dissimilar market sectors characterizes our service – enabling us to reach credit-worthy borrowers which might otherwise not have reached out for our service. Our service transforms the way the public perceives P2P Lending”
“Organizations joining our platform enjoy great conditions due to economies of scale – bringing the lenders as groups and not individuals.”