FintruX : innovative credit system!
Fintrux - innovative credit system
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Loan problems: today's system
Today, there is one big nuance in lending: the need to apply to third parties: brokers, intermediaries, who will confirm the possibility of financing a start-up. But, a large number of intermediaries slow down the process of business development. They sell their contracts to banks, as well as initiators with credit lines, which they give to the bank. After that, the interest rate is given to borrowers. And if there is a significant increase in the personal portfolio, in order to reduce the cost of financing, the initiators are given the opportunity to securitize contracts.
One of the most pressing problems for issuing loans is the lack of an automated system at a sufficient level. This is reflected in changes in records and regular exposure to censorship, in accordance with the Law on Combating Terrorists in Countries of Residence. To date, different parties are able to keep personal copies of data and independently handle their processing. For this reason, the operation of joint operation creates difficulties that prevent synchronization and cooperation without interruption. As a result, the audit becomes difficult to perceive and has a high cost. Loan systems are not always sufficiently transparent, and are also difficult for an understanding of small businesses that first encounter such a question. It is necessary to comply with special rules, including getting a loan with more favorable terms, advance payment and so on. Owners of small business and a team of start-ups do not have the opportunity to get the proper level of service.
The world is developing, and so many people are trying to create something new, they are resorting to the bank for help, but every second is not given financial opportunities, this can be connected with a chain of factors. For example, the amount of loans is small, which is why banks are not interested in the transaction. This directly depends on the fact that when registering and issuing loans directly involved brokers. They are trying to find for themselves in each transaction a financial interest, which is supported by a large amount of the loan start-up. In most cases, if people resort to the help of banks, they expect that they will be able to receive money as soon as possible, despite the fact that the representatives of banks are working in a hurry. The increased requirements of banks for documentation also suspend the development of small business. Not all start-ups meet the criteria of the domestic policy of banks.
Competitive advantages of the FintruX project
The team plans to realize its full potential in the market and do something absolutely unique. The main task is to reduce risks and increase the level of security for all participants of the system. Individual mechanisms for gradual improvement eliminate the risks of avoiding financial responsibility.
The team plans that soon the FintruH platform will be actively filled with new members. The online site will take advantage of the network effect due to the number of users and funding through the FintruX platform. Due to a steady increase in the number of participants, important data will be created that will affect the efficiency of issuing financial loans and Ingredients provided by agents. By improving and improving the quality of the service, users will gain confidence in the platform. Rating agencies that are direct partners of the project will be able to provide services that affect the productive identification and exposure of scammers. Also, they will help analyze the solvency of customers and influence the decision to pay a loan. The blockchain technology will provide users with the highest level of decentralized availability. To maintain privacy: the system will be implemented hashing. If there is a need to get rid of system interruptions, which can be caused by a temporary light outage, a node failure, the platform will have a smart contract system. That is, the FintruH platform will not be exposed to incorrect settings or the risk of losing customer data, because at the automatic level the contract is maintained in the system's database.
The first place in the platform priority list is the satisfaction of the needs of the two parties to the transaction. With the help of fast and timely financing, you can save time, it is enough to use the self-service interface. Thanks to the FintruX platform and a clear interface in the user's personal cabinet, it will be convenient to work with the project. The system of smart contracts is simplified: it will have no conventions. The commission that takes the transaction will be reduced, and the system of smart contracts is simplified. The system will not contain conventions and unnecessary codes. Accordingly, both sides benefit from favorable conditions.
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