Online lending project implementation

Vasil Kisil & Partners acted as a legal advisor to one of the largest and innovative banks in Ukraine on online microlending project launch. The project initially provided for business-to-peer (В2Р) consumer lending, with a prospect of expanding to include Р2Р and Р2В lending services.

Vasil Kisil & Partners’ lawyers conducted a comprehensive review of the legislative regulation of lending and borrowing relationships in Ukraine, in particular requirements for lenders, borrowers and other participants in microlending, verification and KYC processes applicable to borrowers, while also focusing on the issues of financial monitoring, use of electronic signatures, possibility of outsourcing the collection, scoring, call center, accounting and legal services, and other related matters. The firm’s lawyers also offered an optimal structure for building relations between lending companies, servicing banks, Internet platforms, acquirers, and borrowers.