Peer-to-peer lending, sometimes abbreviated P2P lending, is the practice of lending money to individuals or businesses through online services that match lenders with borrowers. Since peer-to-peer lending companies offering these services generally operate online, they can run with lower overhead and often provide the service more cheaply than banks. As a result, lenders can earn higher returns compared to savings and investment products offered by banks, while borrowers can borrow money at lower interest rates.
We explore how Klear, the first Bulgarian P2P lending platform has implemented its platform entirely on Microsoft Azure, using different Azure services – Application Service Environment, Azure Storage, SQL Database, Azure VNet, Virtual Machine, Azure KeyVault, SQL DataWarehouse and Azure Machine Learning, platform architecture and how using the Pay-As-You-Go billing allowed Klear to decrease running costs for IT infrastructure thus providing better prices for its customers.
We explain how we tackle different challenges: continuous integration, security, availability, performance, scalability, and compliance.