Hero — Promoting Financial Inclusion, Transparency, and Efficiency for the Unbanked
Hero’s mission is to revolutionize the banking industry to make credit more readily available and affordable for the unbanked or underbanked starting in Southeast Asia.
Since 2015, we’ve helped thousands of Filipinos access short-term credit and that number is growing fast. As a pioneer in online lending in Southeast Asia, we have become one of the most distinguished Fintech startups to disrupt the highly entrenched, multi-billion dollar lending industry. Through our platform, we are already providing a revolutionary solution to a significant problem among the unbanked and underbanked across emerging markets. Headquartered in Singapore, we fully operate online with no branch infrastructure, allowing us to keep operating costs low and to stay focused on our customers. We are transforming lending into a frictionless, transparent, and highly efficient digital experience for Southeast Asia.
Our vision is to disrupt the current financial system that excludes 2 billion people from the banking system by leveraging technology to create a more inclusive system that allows people access to credit.
Hero is the future of banking that provides collateralized loans to the unbanked and underbanked consumer across Southeast Asia. With the launch of its crypto-currency unit called Hero Token, HERO intends to expand into blockchain-based uncollateralized loans. Backed by venture capitalists such as Softbank, Alibaba and 500 Startups, the organization started operating in the Philippines in 2015 and has since helped thousands of Filipinos to obtain access to affordable credit.
Hero has been created to make both financial return and positive social impact. A Hero token represents the right to receive a reward, which is part of the interest income earned. It does not represent equity in the company nor have any intrinsic value. All tokens in aggregate will have the right to receive up to 20% of interest income.
Hero, The PawnShop:
It is a digital platform designed to impart credit grants, without economic biases. The lack of access to primary financial services has given place to major barriers for the people to overcome poverty by making it almost impossible for them to borrow or save money. Savings and lending are the two pillars of the modern society, serving as both fuel for funding economic boost and funds in times of financial crisis; former being the capital, and the latter being the credit.Both national and local economies are influenced by the easy flow of capital. Access to credit is a crucial factor responsible for the growth of any economy. Hero is an enterprise that started with the aim of making credit smoothly available and relatively economical, to outreach the unbanked and under banked community. It is an e-Platform created to allow credit grants, without partiality.
The project started out in Southeast Asia, with the further plan of expanding and growing. . The plan is to delve in this market and develop a system where credit and loans could be granted to the masses.Hero Pawnshop uses blockchain technology which liberates many financial services breaking through the old institutions, fostering competition and innovation to provide improved, quick, and economical financial services to those who are outside or heavily burdened by their local and formal financial systems. Their vision is to renovate the current financial system that excludes 2 billion people from the banking system by leveraging technology to create a more intact system that permits people access to credit.
Pawnshop in Everybody’s Pocket
PawnHero disrupts the traditional pawnshop experience by providing a hybrid virtual and physical service. The PawnHero operating platform (“Opus”) combines a seamless frontend customer experience with backend operational processes allowing PawnHero to manage and control the customer experience and the business.
The customer submits item information (“Requests”) at pawnhero.ph through their phone or desktop computer. After the customer submits their item details through a series of drop down menus, Opus links the request to our Magnus Loan pricing model which instantly delivers several loan offers with different loan maturities to the customer. The customer then selects their preferred loan offer and is guided through Customer Information, Payment Method, and Delivery modules.
Opus then arranges for a PawnHero motorbike courier (“PawnTrooper”) to pick up the item from the customer’s home at no charge to the customer. At the time of pickup, the PawnTrooper completes the legally required Know Your Customer (KYC) procedures, issues a pawn ticket to the customer, and receives the item for delivery to our Operations Center.At the Operations Center, our expert appraisers authenticate the item and assess the condition of the item.
If the item authenticity is confirmed and the condition of the item is as represented in the Request, then the loan is released through Opus to the preferred pay-out option selected by the customer. If the item inauthentic, then the item is returned to the customer and the customer is charged a 100 pesos (USD 2) delivery fee. If the item is authentic but not in the condition represented in the Request, then the appraiser estimates the revised value of the item and Opus delivers a new loan offer via SMS and email to the customer. If the customer accepts the revised offer, then the loan is released through Opus to the preferred pay-out option selected by the customer. If the customer declines the revised offer, then the item is returned to the customer at no charge to the customer.PawnHero stores the pledged items at the Operations Center in a secure and environmentally controlled centralized vault. Opus tracks the movement of the pledged items throughout the process until the items is either returned to the customer upon redemption by a PawnTrooper or the item is sold.
Upon or prior to the maturity date of the loan, the customer may, through various payment options, make the loan redemption payment or apply for a loan renewal. If the customer fails to redeem or renew prior to the maturity date, then the loan enters a legally required notice period of between 1 month for electronics and up to 3 months for non-depreciable items. Upon the completion of the notice period, if the customer has not made the required redemption and payment of additional interest due, then Opus completes the legally required public notice and auction process and then makes the item available for sale in our marketplace.
PawnHero offers multiple payment options for the loan release (“Pay Out”) and the loan redemption and/or loan renewal (“Pay In”). Primary payment partners include Paynamics, which offers multiple over the counter transactions at banks nationwide, and Pay In and Pay Out at various retail locations including leading convenience stores such as 7/11 and other retail locations across the Philippines. We partnered also with a blockchain-enabled platform that enables anyone, including those without bank accounts, to easily access financial services directly from their phone. Using Coins, customers have access to a mobile wallet and services such as remittances,
air-time, bill payments, and online shopping at over 100,000 merchants who accept digital currency. Another option includes cardless ATM withdrawal. PawnHero continues to add Pay Out and Pay In options with leading Philippines companies in the banking, money transfer, e-wallet, digital money, and retail processing location businesses.
HERO total supply 250,000 Ethereum (ETH) worth of Hero Tokens (equivalent to 50,000,000 Hero Tokens). The final number of Hero tokens is defined after the end of the token sale based on amounts contributed.
Hero Tokens are created and given to buyers as soon as they give ethers to the sale contract. Trading and transferability only starts after the end of the token sale. From a practical point of view, this achieves the same thing as not giving the tokens until after the sale. But from a technical standpoint, we avoid the problem of the token handout at the end of the sale from running into the gas limit.
1 HERO token is equal to 0.005 ETH (1 ETH will buy 200 Hero tokens)
Ethereum (ETH), ETH Classic, BitCoin (BTC), Ripple, LiteCoin, Waves
Hero present earning opportunities to those who hold Hero tokens. Individuals earn real rewards that are directly correlated to their contributions. Those rewards will have dollar value and are liquid.
THE TOKEN SALE START
You may join our Slack https://herotoken.herokuapp.com, subscribe to our newsletter or email firstname.lastname@example.org to receive the latest updates.HERO tokens provide other facilities for those who are committed early on. Extra tokens are offered to those who commit early. Please see the table below for the bonus token schedule.
Website : https://herotoken.io/
Telegram : https://t.me/herotokensale