Carilend is a Caribbean p2p lending platform operating in Barbados, Jamaica and Trinidad. Carilend kicked-off their online lending in Barbados in 2017. In 2019, Carilend expanded into Jamaica, partnering with the VM Group and now adds Trinidad & Tobago alongside Massy Finance. Carilend utilizes Madiston software to run the p2p lending platform. The supplier stresses that this has been achieved on a single instance of Madiston’s lending technology with different currencies, different banking arrangements, different processes, all managed separately but operating within one platform. Each country offers different lending products too, from institutional lending, peer to peer lending, Buy Now Pay Later loans to salary deducted loans.
The company claims that due to automation they have managed some 50 million USD loans with minimum staff, and many of those were peer to peer loans which each have hundreds of micro-transactions to process.
Mark Young, CEO of Carilend is quoted: ‘We have worked with Madiston for over six years now and they have provided the digital lending technology on which the whole Carilend Group operates, from customer onboarding through loan servicing. It is a robust and highly flexible platform which has enabled us to keep our operational costs down, add new products as we grew and expand geographically. …. As we take our digital lending service into our third country, Trinidad & Tobago, launching the Instaloan in partnership with Massy Finance, we continue to use the reliable and innovative Madiston technology as our platform. …‘