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Loan Management System

How Visartech helped to develop a loan management application that regulates the borrowing/lending money process between the closest people and beyond.

PayMyParents is a P2P lending and borrowing platform built out of a desire to financially educate children and regulate the money lending process between family members, friends, and particularly anyone.



Partnership since: 4 months

Featured on top Australian news TV shows and magazines

$2.3 million-worth loans processed within a year

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The Brief

Loantech software as a solution to personal pains in finance that saves family relationships.

The best inventions come from a particular need of people. Once recognized and implemented, the solution becomes truly popular as its founders got through it by themselves. That’s the case with PayMyParents loan tech application.
Like most parents, the founders wanted to help their children financially. But, the money lending process was not regulated clearly. It became quickly obvious that children lack the needed knowledge about their responsibilities and the money lending process.
Loan Management App - Case Study

The repayment procedure was hugely delayed and any reminders caused family disputes.

The founders realized the need for an online loan tech app that will be able to regulate the whole money lending process with the loan agreement and teach children good financial literacy. The reminder system allows for avoiding personal conflicts.

Service Core

Precise execution of the lending platform development process.

Business Analysis

Infrastructure Update

Front-end Development

Back-end Development

Project Management

Quality Assurance


How to shift a fintech software product to a new business model without interruptions.

The Visartech team has stepped into fintech solution development, not from the ground. The money lending platform was already launched and well tested by the founders and their families in the first place. Once the idea was proven to be in demand, the founders wanted to make it available for everyone.

It required us to evaluate accurately the existing functionality for both the Borrower and Lender roles, get acquainted with the codebase, and propose the necessary improvements along with the clear step-by-step app development roadmap.

Among the most crucial challenges ahead of our app development team were:

  • Introduce the business model change

    Our business analysts needed to calculate all the details of shifting a loan tech software product to a new business model. In particular, from a system for parents and children solely, it should become a fully-functioning platform for lending money to anyone. No wonder, it required changes in the payments model as well.

Loan Management App - Case Study
  • Update the platform’s functionality

    Apart from the implementation of new features upon the new business model, the existing functionality required proper improvement and smooth fine-tuning. It will guarantee stable platform functioning interconnecting all the parts of the system into a unified fintech solution.

  • Improve the loan tech app interactivity

    Instead of the form-based technique, we saw the need to enhance the loan tech solution with the AJAX-based approach. This way, all that needs to be changed are reloaded on the page, not the whole thing.


Smooth transition to a high-grade loantech software product with great user experience.

A bunch of technical changes was introduced by Visartech developers to implement the requirements of our clients while ensuring the safety of user data and consistency in user experience.

The key development solutions implemented by the Visartech experts are:

Loan Management App - Case Study
  • Business Logic Upgrade

    Our business analysts have created a thought-through roadmap of changes to set a clear picture and eliminate system redesigns.

  • Subscription Model Change

    We have reworked the subscription plans. Now not only parents, but all the users need to pay a certain percentage of the loan amount to carry out transactions.

  • Payment Provider Integration

    Our developers have implemented smooth payment processing through a Split payment gateway directly to the user’s bank account.

  • Loan Repayment Schedule

    We’ve introduced flexibility into payment schedule calculation allowing users to choose the date of repayment based on their preference.

  • Loan Agreement Signature

    We have developed a document signing feature. The agreement comes into effect when both parties read, make the necessary corrections, and sign a document. New conditions are formalized in amendments and are required to be signed by both parties.

Loan Management App - Case Study
Iryna Markova
Sometimes we do not notice certain things, however, they deserve special attention. The main idea of the project shows how financial operations between people can become absolutely transparent and organized. It would be great if everyone could have such a responsible attitude to loans and financial relations within the family. Since I love planning myself, I enjoyed checking schedules out on this project, and not only looking for potential flaws, but also suggesting options for improvements.
Iryna MarkovaEngineering Manager

The Result

PayMyParents becomes a full-fledged P2P lending platform.

The Visartech development team has significantly improved the initial idea of a money lending solution for family members and turned it into a high-grade loan management software servicing any person.
The improvement roadmap offered by the Visartech specialists has resulted in accelerated proceedings, enhanced app responsiveness, preserved user data, and an attractive user experience.
Loan Management App - Case Study

Our fintech development expertise helped to create a loan tech app that gains traction in the Australian P2P lending market:

  • The loan management system has been numerously featured on top Australian TV shows.
  • The user base has grown by 35% within the first 3 months after the new app version launch.
  • The lending app’s popularity continues to grow among families interested in expanding their children’s financial literacy.

With a $30 billion yearly capacity in family loans on the Australian market only, the P2P lending software strikes into the in-demand market uncovering the huge potential for business growth.




PayMyParents Today

On Top Australian media
Private lenders
Loans processed within 1 year
Years of loantech experience

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