DailyFunding, a peer-to-peer (P2P) lending platform, announced Monday that it has introduced a "one-stop limit review system" that automatically raises investment limits for users of online investment-linked financing (P2P) services.
P2P lending platforms currently offer different investment limits based on individual investor classifications, including general, income-qualified, and professional investors. General investors face a total investment cap of 40 million won ($29,000) and can invest up to 5 million won in a single loan product. To raise these limits, investors previously had to meet qualification requirements for income-qualified or professional investor status and submit documents to each P2P platform — a cumbersome process. Maintaining the status also required annual document resubmission for re-evaluation.
To address this, DailyFunding developed a one-stop limit review system that raises investment limits without complex paperwork. When investors whose invested amount reaches 90% or more of their limit complete a simple authentication process, DailyFunding automatically scrapes the required documents, verifies qualification requirements, and upgrades the investor's classification.
DailyFunding described the new system as a cornerstone for expanding inclusive finance and productive finance. By making it easier to raise investment limits and enhancing portfolio flexibility for investors, the company said it can develop and sustain additional niche financial products. The company also outlined plans to lead a virtuous "investment-growth" cycle in the P2P industry, where the growth of inclusive and productive finance beneficiaries directly translates into returns for investors.
"Productive finance, where the financial sector creates future added value and drives sustainable growth, is being increasingly emphasized," DailyFunding CEO Lee Min-woo said. "As investors gain greater investment capacity, individuals and businesses will be able to secure the funding they need at the right time according to their life cycles, driving economic growth."