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Daric is a peer to peer lending platform that extends personal and small business loans at competitive rates using big data.
PRODUCTS & SERVICES
Decision Platform - interface and back-end infrastructure for automated risk modeling, rule-based scoring, decisioning, and data integration across industries. Reporting and compliances - Document vault and custom reports that can then be used for underwriting, investment management, and servicing of assets. Automated risk modeling, rules-based scoring and data integration across a variety of industries makes decision making easier
Daric has 3 main revenue sources: 1) Borrower fee: This fee is included in the annual percentage rate calculation, and varies depending on the size of the loan, financial history, and business' financials'; it may be up to 5% of the loan amount; 2) Late payment fee: it is greater of, 5.00% of the unpaid payment amount or $15, and is only charged once per late payment; 3) Unsuccessful payment fee: an unsuccessful payment fee of $15 is charged to the borrower to cover the cost Daric incurs on the transaction. Possible causes of a failed payment include an insufficient balance in the borrower’s bank account, a suspended bank account, or a closed bank account.
Provides cloud based risk analysis which helps in decisioning, customer acquisitions and visualizations
DATE OF LAST FUNDING
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