EIP ExchangeOnline platform for financial loan exchange
The EIP Exchange is an online platform for doing financial loan exchange or transactions through an online account. Client can create their own account or profile then sign into it, post their term deposits and from where they receive and view offers from various banks. Term deposits are liquid capital that can be lent to a bank in a limited time.
The process can be divided into the following 4 steps.
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Step.1 : Post the term deposits
After profile creation the client can post their term deposits after their requirements. I.e. Amount, time frame and minimum interest and other details.
Step.2 : Receive bids from banks
The banks have access to the platform where they can see all the clients’ offerings. I.e. Amount and time frame. the banks will see the profile of user where it can seek the offerings and thier posts and reviews . When then the banks make an offer they do it through the platform.
Step.3 : Select the best
I. When then the banks make an offer they do it through the platform it is collected. At 14:00 hours all the bids from banks are sent to the client. It would be done depend on time frame.
II. The client accepts which is the best offer.
Once the topic has been created a deposit query is sent automatically to be seen at the platform, and the competition among the banks in EIP Exchange, participating in deposit exchange can see a bid on it. The deadline for making term deposit enquiries is at. 12:00 o’clock on all working days, so if the client has registered at 11:00 then the query is already received one hour after. Have the client made an inquiry after 12:00 that is included on the next working day at 12:00. the banks offer deadline expire two hours later, at 14:00, in the week and at precisely 14:00, the results are sent via email, then the unit can (eventually) log into a user account to see banks’ bids.
The banks’ offer for the client is valid 24 hours from when the e-mail is sent at 14:00. This means that if the client wishes to accept an offer from the banks, then the client make it within 24 hours on working days. The exact deadline for accepting the offer will be in the email, the client receives from the EIP Exchange.
Step.4 : Acceptance of the best offers
If the client will accept a bank offer it has to be within the specified 24 hours, if later the acceptance is not binding to the bank. The bank will then see this as a positive indication from the client’s side relative to the client had rejected the consultant’s bid and nothing else so that it can be run in multiple languages. It has the ability to be integrated into other sites
Client wanted a system where liquid capital owners could find the best offer at one platform and that too in his inbox to make things easy.
Bid management system is the best way to fetch the best offer for the users.
We created a system where client can create their own account or profile and then sign into it, post their term deposits and from where they receive and view offers from various banks in the form of bids.