SoKay Launches SoKay Borrowers to Help People Borrow From Friends and Family in a Better Way

NEW YORK - Nov. 25, 2019 - PRLog -- SoKay, a start-up company based in New York that is dedicated to providing solutions to the social and financial challenges arising from loaning money between friends and family ("FnF loans") while improving the whole ecosystem that supports such transactions, has added SoKay Borrowers to their product line.

SoKay Borrowers offers the borrowing side a working framework for managing the transactions as well as the relationships with the lending side in a FnF loan. It is built on SoKay Protocol 1.0, which encourages the borrowers to be responsible, transparent and responsive during a FnF loan process, from beginning to the end. SoKay Borrowers integrates the existing SoKay service products and strealines the user experience to make it more effective for the borrowers, in particular.

"It's definitely a new perspective since we were more focused on helping lenders deal with the loan situations," says Robyn Zhou, founder of SoKay. "Now, SoKay Borrowers, lacking a fancier name, just serves the borrowing side, in their shoes, from their angle."

SoKay Borrowers provides the borrowers with a variety of options, such as the signature Launchpad service, which reaches out to potential lenders to negotiate loan terms, and legal templates.

SoKay Borrowers also features a smart solution center that automatically directs borrowers based on their situations.

"That's part of our automation transformation," explains Robyn. "We have, actually, automated most of the site. Once we get more data in, we will optimize the experience using more AI and big data."

SoKay is currently in phase one and has begun the transformation toward the FinTech phase.

Learn more: https://www.sosokay.com

SoKay Borrowers is live at: https://www.sosokay.com/borrowers

About SoKay
SoKay is a new social FinTech innovation that provides solutions to the financial, social and psychological challenges arising from acquaintance and FnF loans, the lending and borrowing activities between friends and family.