P2P Lending Solution: Signia Money

Signia Money is a web application offering peer-to-peer lending services. This cost-efficient online platform brings together borrowers and lenders allowing them to arrange direct deals.

The majority of financial institutions tries to gain huge profit by offering high interest rates. Signia Money, in turn, boasts a different approach: it lets people with little cash on their saving accounts invest part of it (by lending to people who are in need) and get a higher interest.

Project Background

The customer addressed EffectiveSoft and asked to create an easily accessible
platform that would grant the chance to make lending deals without financial intermediaries
involved. Beyond that, the client provided several design mock-ups and initial specifications
that were extended afterwards.

Solution Highlights

The solution performs a bevy of functions: it handles borrowers’ loan applications,
matches them with relevant offers from lenders, tracks incoming and outgoing
transactions, holds missed loan payments, and makes relevant operations logs.
To reduce default risks, the application spreads lender’s deposits among at least 5 borrowers.

Signia Money is compatible with all the popular Internet browsers. Its stylish and user-friendly
interface gives an opportunity to easily navigate through the website, monitoring the current
status and finding valuable information on complicated terms, deposit/withdraw funds, rates, etc.

Among other perks of this application are statements upon request and event notifications.


To ensure perfect functioning, all the components and key features of the application were tested by savvy-tech QA specialists. Furthermore, twice a week the customer held code reviews to check the work progress according to the planned schedule.

During the development process EffectiveSoft experts closely communicated with the customer, sharing smart ideas on some features, UI, etc. The client was pleased with the result, as it exceeded the expectations.


Business model Time and Material
Development model Agile
Project workload 8,400 man-hours
Project team 1 Project Manager, 3 PHP developers, 1 QA
Documentation Mock-ups and requirements specification
Lines of code About 77,000
Languages PHP, MySQL, JavaScript, CSS, HTML, XML
Technologies & Tools Symfony2, JQuery (+plugins), Twitter Bootstrap, Third-party APIs
Industry Finance

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