Kokos – p2p lending in Poland

Kokos.pl launched the first p2p lending service in Poland. I interviewed Dorota Janik, PR Manager of Bluemedia, about the new service.

P2P-Banking.com: Can you please describe Kokos?

Dorota Janik: Kokos.pl is the first p2p lending or social lending system in Poland. It opens new possibilities in e-finance industry and fills a niche between offers of banks and other financial institutions.

The main advantage of Kokos.pl is being able to offer a much more beneficial interest range for both the lenders and borrowers, and a higher level of security than on other web based auction systems.

The most stress has been put on the borrower verification process. Kokos.pl uses Biuro Informacji Gospodarczej (BIG) to check borrowers credit history and to assign their rating in the system.

Another method of ensuring security is spreading each loan across a large number of lenders. This offsets the risks taken on by any one single lender to great extent. In a near future both sides will also be able to purchase insurence for the credit.

The system offers 2 ways of lending – "borrow now" feature and auctions. The choice between  these options depends on the conditions of the loan and the intended purpose of the credit. The borrowers with higher rankings are more likely to find lenders and better interest rates.

The system is operated by Blue Media company, which is also funded the platform.

P2P-Banking.com: Who can borrow and lend at Kokos.pl?

Dorota Janik: Since we only have access to polish credit rating institutions, only residents of Poland may use the system at this moment.

P2P-Banking.com: Does Kokos administer and transfer the funds, or does it just make contact between lender and borrower and both handle the contract and the payment themselves?

Dorota Janik: The system generates single transfer definitions for both the lenders and borrowers. The users always transfer funds to Blue Media account, which are then sent out to the appropiate recipients.

P2P-Banking.com: Who is on the team behind Kokos.pl?

Dorota Janik: The team behind kokos.pl has extensive background in ecommerce, financial industry and IT. With years of experience working with banks, telecoms, insurance agencies and financial institution on many technologically advanced projects, the staff can ensure a high level of user experience and security.

As the first Polish social lending site, kokos.pl has received a large coverage by mainstream media, including the major newspapers, magazines and 2 TV stations, all within the first week of the launch. At present the system is largely discussed on the forums, industry portals and blogosphere.
A large marketing campaign is scheduled for March.

P2P-Banking.com: Thank you for the interview.

Screenshot of Kokos.pl homepage

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