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agentsmit12

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  1. https://www.financemagnates.com/thought-leadership/micromoney-taking-steps-combat-financial-exclusion/
  2. Micro Money Presentation meet-up Date and time: 10/28/2017, 19:00-22: 00 Location: COEX, conference hall №300 513, Yeongdong-daero, Gangnam-gu, Seoul 06164, Republic of Korea https://www.coexcenter.com/ Registration: tel: 010-4911-5806, e-mail: dori6218@naver.com ONLY 110 SEATS AVAILABLE !
  3. MicroMoney Raises 5 Millions with Token PRE-Distribution Event MicroMoney Intl, the headliner of the social movement for financial inclusion of “the unbanked” around the globe, has attracted $5 millions during its AMM token pre-distribution, with just hours remaining before the distribution campaign start on MicroMoney.io. In total, MicroMoney reports $5,000,000 of contributions during the initial phase. The pre-distribution campaign had a minimum swap threshold valued at $10,000 and a soft cap of swaps valued at $2 million. “Now we are aiming for the soft target of $15 million in swaps and a $30 million hard cap during our token distribution. The activity of investors has exceeded our expectations, which is built upon reliance on MicroMoney’s social mission — to help eliminate poverty through the blockchain technology,” said Anton Dzyatkovsky, MicroMoney co-founder. “Millions of the undiscovered unbanked population in Southeast Asia and around the world are hoping to get a chance — maybe the only chance — through our transparent social and green microfinance program.” MicroMoney’s goal is to change the “catch-22” reality for the unbanked, when billions of people cannot receive loans without having a bank account, credit history or financial records. MicroMoney is a thriving business in Myanmar, Cambodia, Thailand, Indonesia, and Sri Lanka totaling 100,000 registered users and 40,000 loans so far this year. Dubbed as the first Blockchain Credit Bureau, it creates credit profiles using loan applicants’ mobile phone data and proprietary blockchain-based Decentralised A.I. Neural Network Scoring System. Once approved, loans go to borrowers’ e-wallet for disbursement. Valued at $1.85 million, MicroMoney provides social lending services with no collateral or paper-based documention. MicroMoney plans to use attracted funds to expand to Vietnam, Malaysia, Singapore and Nigeria and include over a million of previously unbanked customers into the global financial system. More Info: https://goo.gl/pC5jtx
  4. MicroMoney Raises 5 Millions with Token Distribution Event MicroMoney Intl, the headliner of the social movement for financial inclusion of “the unbanked” around the globe, has attracted $5 millions during its AMM token pre-distribution, with just hours remaining before the distribution campaign start on MicroMoney.io. In total, MicroMoney reports $5,000,000 of contributions during the initial phase. The pre-distribution campaign had a minimum swap threshold valued at $10,000 and a soft cap of swaps valued at $2 million. “Now we are aiming for the soft target of $15 million in swaps and a $30 million hard cap during our token distribution. The activity of investors has exceeded our expectations, which is built upon reliance on MicroMoney’s social mission — to help eliminate poverty through the blockchain technology,” said Anton Dzyatkovsky, MicroMoney co-founder. “Millions of the undiscovered unbanked population in Southeast Asia and around the world are hoping to get a chance — maybe the only chance — through our transparent social and green microfinance program.” MicroMoney’s goal is to change the “catch-22” reality for the unbanked, when billions of people cannot receive loans without having a bank account, credit history or financial records. MicroMoney is a thriving business in Myanmar, Cambodia, Thailand, Indonesia, and Sri Lanka totaling 100,000 registered users and 40,000 loans so far this year. Dubbed as the first Blockchain Credit Bureau, it creates credit profiles using loan applicants’ mobile phone data and proprietary blockchain-based Decentralised A.I. Neural Network Scoring System. Once approved, loans go to borrowers’ e-wallet for disbursement. Valued at $1.85 million, MicroMoney provides social lending services with no collateral or paper-based documention. MicroMoney plans to use attracted funds to expand to Vietnam, Malaysia, Singapore and Nigeria and include over a million of previously unbanked customers into the global financial system. More Info: https://goo.gl/pC5jtx
  5. You can meet Anton Dzyatkovsky, co-founder of MicroMoney here https://monacogrowthforums.com/ next 3 days. More information about the project you will find folowing the link : https://goo.gl/pC5jtx
  6. Why did I contribute my money to MicroMoney? For the first time in my life, I acted not randomly contributing to one of the many modern token distribution campaigns. The information received in time helped me to take a decision. You can take it as Insight or as Inside – it doesn’t matter a lot! =) About MicroMoney token campaign I learned about it through the friend’s message so I decided to look into the details. Actually, I had to spend a decent time to examine many documents. So detailed business plans and reports I didn’t meet for a long time. As it turned out - that the company exists and successfully runs its scrupulous business for several years. It’s widely expanding the business of social lending services in five countries - Thailand, Cambodia, Sri-Lanka, Indonesia, and Myanmar. You know, it all started with the ideas. Everyone aware that the basic problem of credit has two sides. For those who borrow - the interest rate of a credit and the complexity of the application and its approval. For those who lend – the returns percentage of all given credits. Have we all heard about the credit bubbles? As it turned out, MicroMoney has been able to find a solution! Using smart and complex AI algorithms of a customer’s creditworthiness assessment, they achieved an incredibly high percentage of returns. It allowed the company to run and expand its business and to receive a profit successfully. The first questions that I arose with: Who they are? What is their experience? The project is the mature Asian business, the founders of which are professionals in their countries in banking and IT sectors. In the year 2015, to create a platform, this company drew more than 1 500 000 USD from the major investors. The investments created and successfully started a working system. The company is already having the finished and working products – a sophisticated scoring system and a Big Data platform with client’s database available for banks and other businesses to reach a new audience in emerging markets quite cheap, which believed and attracted a bunch of serious investors. Using of MicroMoney system is simple. There is the mobile application that allows you to apply for a loan through the smartphone with no paper-based document, collaterals or persons to vouch for you. And no office visiting, of course – just quickly and conveniently wherever you are. Moreover, to get the requested and approved money fast. After you allow the access to your personal data from the application, AI algorithm analyses gigabytes of data available from your smartphone almost instantly. These are, for example, your social accounts, all your posts and likes, searches, applications downloaded, even the music you play more often on your phone. All this data get the certain score increasing or decreasing your creditworthiness. On this basis, a decision would be taken on your capacity to pay and the credit issued in just several minutes. Easy as 1 – 2 – 3 =) Loan money can be sent to your bank account (if there is one), or to your mobile phone account (it is always you have), or to your crypto-wallet, as well as in other ways, up for cash money from the authorized partners. At present, the company works in several densely populated countries of Southeast Asia and plans further expansion in the coming months (such giants will join as Philippines, Nigeria, and China). On the calculations, the potential audience in the world is huge - over 2 billion of unbanked people (those who still do not use the loans and, actually, have no access to other financial services as well). They all will be able to begin and to create an initial credit history using the MicroMoney platform. To speed up the world implementation the company needed its own tokens. This will involve not only conventional financial structures but also ordinary users of crypto-currencies. In addition, the token will get a number of useful functions for all the parties of the loan processing: the opportunity to invest in the lucrative business, sell and buy the Big Data information or credit histories. The banks control the people and the state control of banks. Thus, through the banks of the state control over the people. However, what if a person has no bank accounts or credit history? There are so many migrants and persons deprived of the banking services. MicroMoney offers its money for all! The token distribution campaign starts on 18th October 2017. More Info: https://goo.gl/pC5jtx
  7. Blockchain company will provide one million people in Asia with their first loans By 2020, about 1 million people in Asia will receive their very first loans ever. Crypto economy is the tool that will help them to merge into financial markets and to apply for approximately 3 million payday loans annually. MicroMoney, a global blockchain company and lending services provider, aims to support this process allowing people with no credit rating score to enter Asian banks with positive credit histories. MicroMoney’s co-founder, Anton Dziatkovsky, is going to form a market for the credit histories creation from scratch and their further support in emerging markets. Now his company works as a microfinance business helping the unbanked and underbanked people to provide their primary needs with payday loans. On the other hand, MicroMoney helps banks and other financial organizations to access new markets in the Southeast Asia and other emerging regions with lower risks providing them with a database of reliable borrowers in each region with all the segmentation by an audience, risk level and costs related to each segment. MicroMoney’s platform uses Big Data methods, all the data is keeping with the help of blockchain technology, and the unique scoring model based on information received from client’s mobile phone with the special application designed by the company. The process looks quite simple for a lender: the Big Data platform drives all the data received from the phone through neural networks, analyzes the result, and evaluate a customer’s trustworthiness. Clear and full information about a person based on the analysis of a customer’s data available from all the mobile sources and includes career information, interests, social networks accounts (confirming that this particular person is real), travel notes, family status, penalties received and so on. According to Anton Dziatkovskii, this content sounds more truthful and allows predicting a customer’s behavior to avoid excessive risks. The company chose the mobile phone because of a high level of smartphones’ penetration, even in countries with a low level of banking services distribution. For example, in Africa, 80% of the population does not have a bank account but 63 of 100 people use mobile phones. Secondly, this is a higher popularity of smartphones above laptops and computers. Finally, it’s practically equal capabilities of smartphones’ and PCs processors and features along with significant progress in financial services mobilization, cloud services, and Big Data systems to analyze all these data. “95% of our clients take their first loan ever, — Anton Dziatkovsky says. — Usually, they get stuck in a kind of endless circle: if they need a credit, they need a credit history, and to get a credit score and the history they need a credit. Meanwhile, banks are keeping a focus on medium and large enterprises lending in emerging markets. Microfinance companies embrace the others but the process of loan applications approval in Asia is extremely complicated and long due to the lack of automation. The common practice there is to keep all the data in Excel or even in paper ledgers. For the loan application, a person needs a collateral (in Cambodia and Myanmar, for example, it can be real or land property) and a lot of papers such as references from police, municipality, property owner, income statement, a letter from job manager etc. A person may find four or six friends and band them to achieve a group loan. In Indonesia, Cambodia, Myanmar, and Sri Lanka, for example, the process may last from 1 week to 2-3 months. MicroMoney approve or decline a loan application within 15 minutes without any collaterals or documents required. The first loan will be small — about $23 usually but after 5-10 loans, a borrower can rise up to $200-300”. In turn, banks, credit, and insurance companies have to spend up to 15% of the budget for the customers’ verification and purchase credit histories from credit bureaus in order to explore their risks and loan percentage to establish for each audience segment. According to statistics, banks make 2-3 requests per one person per year with the price of inquiry $1-10 average. MicroMoney plans to give all these financial organizations an access to its list of the most reliable borrowers from each region with positive credit score rates. The market seems to be very perspective: 39% of the world’s population doesn’t have a bank account. According to the McKinsey, the most affected regions are Africa, Latin America, and the Middle East (about 65-80% of the adult population are unbanked). MicroMoney now employs about 200 people in Cambodia, Myanmar, Singapore, Sri-Lanks, and Thailand to service its microfinance business and some software developers, marketing, and PR managers, copywriters from the United Kingdom, Israel, and Russia to promote the company. In Asia, the project works with local partners. The first partner is the adviser to the Prime Minister of Cambodia for Economic Affairs, and CEO of one of the largest development companies in the country Sonatra Group, Okna Sorn Sokna. The second is the East Wing ASA Capital venture fund with about $100 million of capital and its member, the head of Sonatra’s affiliate companies — Mr. Tetsuji Nagata. They both are not only the stakeholders and top-managers of MicroMoney but also enthusiastic advisors for the company’s token distribution campaign that will start this October. Anton Dziatkovsky is sure to win the game and promises that the company’s tokens will grow constantly supported by the growth in the company’s microfinance business and payday loans approved, along with Big Data platform high demand from banks waiting for an entrance to emerging markets. “We will do our best to raise the price of our tokens up to +1000% for the first year due to our launch in five new markets by the end of 2017”. MicroMoney plans to issue about 600 thousand payday loans per year and, thus, involve 1 million of unbanked people into crypto-economy by 2020. “Now about two and a half billion people worldwide are unserved and don’t have any access to bank services. Our goal is to connect banks and unbanked”, — notes Anton.
  8. Who owns the technology, owns the world The phrase “He who owns the information, he owns the world” became famous thanks to the desire of the Rothschilds to be the first to know the news. Winston Churchill loved to repeat the same phrase. But all the great men said the phrase knew that information is only precious if you know how to use it further. Our world thirsts for information. Just a couple years ago the worldwide market went crazy about Big Data and possibilities they might open but dreams became phantoms – no one knew how to work with all the collected information. Now the situation is totally different. There are a lot of tools to analyze the raw data and to turn them into the useful statistics and accurate forecasts now on the market. Companies can use this information to enhance their services, to automate processes, to gain insights into their target market and to improve the overall performance using the feedback they get. For example, the online retail giant Amazon has access to a massive amount of data about its customers, what kind of purchases they make and what are they searching for. While this data is obviously put to advertising algorithms, Amazon also uses the information to improve customer relations, the area that many Big Data users overlook. General Electric uses the data from sensors on machinery like gas turbines and jet engines to identify ways to improve working processes and reliability. Starbucks uses Big Data to determine the potential success of each new location. One more innovative and promising tool to transform the data from raw to useful is neural networks. Even though they have been established as the well-known method in business, there is enormous space for additional research, and here is the case to show it. In the Southeast Asia, the fintech company MicroMoney uses the neural networks and Big Data tools in its own scoring system for a rapid creditworthiness assessment of a client with no credit history. Instead of papers, certificates, and cross checking scoring system analyzing personal data from a borrower’s smartphone. All that's needed is to install the MicroMoney application, sign the agreement to use the personal data and to complete the loan application online. Then the scoring system analyzes all the available data, sets a credit rate and identifies potential credit risks with an accuracy of more than 95%. In case a customer reaches the certain credit score points the system approves the loan automatically and sends the money to a user’s e-wallet. Scoring system constantly reviewing data within its increasing database. The more data processing, the faster and more accurate is the result of customer’s creditworthiness evaluation. In future self-learning algorithms can provide people with all kind of services even before they think about it. For example, a man announces in his social account that his wife is pregnant. This man is known as a reliable client of the MicroMoney, he has a high credit rating. The scoring systems catch this fact, correlate this information with his recent searches for houses to rent in search engines, evaluate his credit rate and he receives a special offer of mortgage for house buyers, with all interests and payments specified due to his monthly income. Or, let’s say, a girl is graduating with a bachelor’s degree with her marks higher than average score and searches for other universities to continue her education. The systems are able to analyze her bank account, to find that she has not enough money to enroll and offer her a student loan. There is no doubt that these technologies can change not only banking industry but the way people consume, spend and save their money. We already face all benefits of targeting advertising but it is only beginning of the integration of smart technologies in our everyday life.
  9. Mobile phones and the Internet are changing the banking The emerging markets have outpaced the mature one’s development significantly, experts say. Let’s check out two of the major trends. Smartphones golden age The first trend implies that emerging market buyers are shifting from PC, laptops, and tablets with a high penetration in mature countries right towards a new generation technologies. That means that smartphones there have been adopted not only before PCs but instead of them. Due to continuous smartphone penetration on the market, the growth in a number of mobile phones in emerging markets is proceeding exponentially. According to GSMA Intelligence, for instance, it stands for 76% in Taiwan and for 70% in Myanmar. The reason is that smartphones in Asia have recently become rather affordable and its cost varies just from $30 to $50. Moreover, the capabilities of smartphones processors are on par with PCs’ processors, and the features sometimes wider — photo shooting, for example. Contrary to all the rules The second trend covers rising of the Internet penetration even among people with very low income. The emerging markets show interesting statistics: usually, they have a high percentage of the unbanked and underbanked population and, at the same time, the high level of penetration of the Internet and mobile services. For example, Asian region overall is expected to become the world’s fastest-growing Internet region by 2020. While Internet industry is flourishing, only 27% of the South East Asian population have a bank account. In 2017, China has 731 million internet users and 53,1 %t of them are online. The country demonstrates a fast development pace but still has 21% of unbanked. In Myanmar, the Internet traffic growth is 58% and, at the same time, Myanmar has one of the lowest banking penetration rates in Asia, with over 70% of adults (aged 15+ years) unbanked. Traditional banks and alternative fintech projects battle What is more surprising, these trends have the strong impact on the totally different industries, for example, on the financial markets. Emerging market consumers, in the same way, skip traditional banking services and move to online wallets, payday loans cards, P2P credits and to online applications for loans that can be taken via smartphones! That happened since people found it is much easier and faster to do it by phones, however, this fact formed a new trend in financial services. As mobile and Internet services do not need paper documentation, therefore, neither financial services nor their customers need such traditional creditworthiness proofs as papers, credit histories, collaterals, persons to vouch and so on. All the traditional banks’ requirements make sense as they are just trying to de-risk their businesses, especially for the emerging markets banks. In Kenya, for example, M-Pesa financial service lets customers store, transfer and send money via simple text messages. Usage of WeChat Pay and Alipay apps is approximately 7 times greater than average of top five conventional banking apps in China! However, at the same time, alternative mobile services market is growing rapidly making all the classic rules senseless because the fintech projects found the way not only to accept applications online from mobile devices but to assess their customers online too. For instance, the blockchain company MicroMoney has developed the mobile scoring system based on neural networks technologies that allow estimating of customer's creditworthiness remotely just having an access to a customer’s smartphone data. So its clients don’t have to collect a pile of papers, to provide a collateral and a one to vouch, or to wait for the bank approval. No struggle to prove that they are reliable credit customers or wasting the time if they had no credit history before (because for a bank it means the obvious rejection). MicroMoney’s mobile scoring system after getting the access to mobile data explores around 12 000 different parameters of data stored on a phone (SMS, contacts, social accounts data, searches and purchases, and even a music a user likes) within just several minutes and approves (or disapproves) a loan. In case it approved, MicroMoney immediately sends money right to a client’s e-wallet. With the trends we mentioned before, it’s obvious that the banking industry will not stay the same anymore. Moreover, these changes give the banks the key to the audience untapped before — to the unbanked and underbanked people in emerging markets and worldwide.
  10. Data are NOT the new oil But a mobile phone is a key to the new data economy Data is the oil of the digital era. You are a little bit tired to read the hundredth time, aren’t you? We are going to declare a mobile phone data shaping the new landscape of the world instead. It seems that nothing can stop fast-growing digital corporations such as Amazon, Apple, Facebook, or Alphabet, which are accumulatively earned over $25 billion in net profit in the first quarter of 2017. Every company from these five is collecting and controlling enormous database. Taking into account that nearly 80 percent of social media time now spent on mobile devices and the mobile access aspire to reach the same amount of other online pages, we can name all these gathered data the mobile phone data actually. The next step on the way of data economy’s development after gathering a huge amount of data is consumer services reinventing. Yes, that’s right, all the data analyzed have the one and the main goal - to enhance companies’ services. An innovative approach to the data usage by Uber, Airbnb, Spotify, Foursquare, and many others changes the way of listening to the music, traveling, purchasing, and retailing. And the banking, of course. “How much” doesn’t matter Every single device in the world can be a valuable source of data. The question is HOW will you analyze all those gigabytes and what decision will be made be based on this analysis. Hard work of analyzing is taken by AI, artificial intelligence, extracting more value from the raw data with such techniques as machine learning and Big Data tools. Algorithms, for example, analyzing lots of running traces, helping sporting goods store or health foods company locate their stores in districts where the number of runners is the highest. Whether a client started watching cartoons and purchased pregnancy test or canceled Netflix subscription and bought a canoe, algorithms can predict his or her further behavior. What for? To offer this client a better service, of course, and, as a result, to reduce the risk to lose the customer. Analysis is the way to new opportunities MicroMoney, the global fintech company, developed its own way in neural networks and self-learning algorithms using. The company created an app for the instant loan application approval so it doesn’t need any papers, documents or collaterals, or even a borrower in its office. A customer should just download the app on a smartphone, to agree to process personal data and let the scoring system do all the work. In several minutes the system will evaluate about 12 000 parameters available from this mobile phone - from contacts to music saved, from social accounts to Google searches and will take the automatic decision about the client’s creditworthiness, and will give a status of loan approval then. This is when your data are working for you. Scoring system based on neural networks can predict with high probability if you can be trusted depending on every single action you did with your mobile phone. And if the answer is “yes”, then you can plan a significant purchase or have the MicroMoney’s credit support for on urgent cases. Whenever you need money, you can complete a loan application and get a money within some minutes. Data economy for companies and for people We are witnessing the new digital world is taking shape. None can be blindsided for the new fields of knowledge, where the tech industry is the path breaker. The companies should consider new approaches. Mutual sharing data with other businesses might give both sides a financial extension. For example, MicroMoney can give banks the access to the completely new audience — to unbanked people around the world. The company can share the database of reliable borrowers not only for lending organizations but for insurance, service and retail businesses because these exact people are ready to purchase services for their lives improving and have all the means to pay for them. Mobile phone data are the world’s new oil, let’s use them wisely and collaboratively. Your reputation hides within your mobile phone A mobile phone is your friend, business assistant, a way to connect your dear ones, and even a boss sometimes if you set the alarm on. However, what if your phone can be a reputation tool able to give you an access to the services never available for you before? MicroMoney, a global fintech blockchain company and lending services provider, has found a way to turn a mobile phone into a tool to build and prove your reputation that can make a revolution in the lending and many other industries. They designed a new scoring system based on all data received from a mobile phone and analyzed by machine learning and artificial intelligence tools. Therefore, the company does not need any paper documents from its borrowers and no collaterals, by the way. A customer should just complete an application form within a special mobile application. By ticking a certain box in the app client agrees to process and assess all the data from his or her mobile phone. The system approves a loan and sends the money to a borrower’s e-wallet. That seems to be much easier and simpler way to get a loan, isn’t it? However, behind the scenes are some sophisticated technologies making all the work done. One of them is neural networks technology. When the agreement received, the system gets all data from all the sources available from a mobile phone: contacts, messages from banks, all the information from the user’s social accounts and even games and apps downloaded and the music playing often. Almost everything. The system compiles all these components and processes them through neural networks and Big Data tools, assigning each piece of data some points of a credit score, drawing an individual picture of a person applying for a loan. Has a job? High points. Has the same job in the online application form completed and in your Facebook account? Higher points! Listening to hip-hop? Fewer points (sorry, hip-hop fans). Completes the form very slowly, doubting what to write in each field? Very low points. Then the system counts all the points achieved altogether. If the score reaches the certain rate set by the company, the system approves the loan automatically and sends the money out. There is no way to cheat the system. For example, if a client gives false information about age, occupation or loan purpose, the system will check all customer’s accounts to compare the data given and in case they are different a client will get a lower score or even a signal for the AI to reject the application immediately. With the ability of the company’s system to capture data, the company can be secured and work conscientiously with responsible borrowers, who get benefits from using this application. And this way obviously makes it convenient for both. It’s time to think about a new role for your mobile phone and start to respect it as a key to your reputation asset!
  11. Your reputation hides within your mobile phone A mobile phone is your friend, business assistant, a way to connect your dear ones, and even a boss sometimes if you set the alarm on. However, what if your phone can be a reputation tool able to give you an access to the services never available for you before? MicroMoney, a global fintech blockchain company and lending services provider, has found a way to turn a mobile phone into a tool to build and prove your reputation that can make a revolution in the lending and many other industries. They designed a new scoring system based on all data received from a mobile phone and analyzed by machine learning and artificial intelligence tools. Therefore, the company does not need any paper documents from its borrowers and no collaterals, by the way. A customer should just complete an application form within a special mobile application. By ticking a certain box in the app client agrees to process and assess all the data from his or her mobile phone. The system approves a loan and sends the money to a borrower’s e-wallet. That seems to be much easier and simpler way to get a loan, isn’t it? However, behind the scenes are some sophisticated technologies making all the work done. One of them is neural networks technology. When the agreement received, the system gets all data from all the sources available from a mobile phone: contacts, messages from banks, all the information from the user’s social accounts and even games and apps downloaded and the music playing often. Almost everything. The system compiles all these components and processes them through neural networks and Big Data tools, assigning each piece of data some points of a credit score, drawing an individual picture of a person applying for a loan. Has a job? High points. Has the same job in the online application form completed and in your Facebook account? Higher points! Listening to hip-hop? Fewer points (sorry, hip-hop fans). Completes the form very slowly, doubting what to write in each field? Very low points. Then the system counts all the points achieved altogether. If the score reaches the certain rate set by the company, the system approves the loan automatically and sends the money out. There is no way to cheat the system. For example, if a client gives false information about age, occupation or loan purpose, the system will check all customer’s accounts to compare the data given and in case they are different a client will get a lower score or even a signal for the AI to reject the application immediately. With the ability of the company’s system to capture data, the company can be secured and work conscientiously with responsible borrowers, who get benefits from using this application. And this way obviously makes it convenient for both. It’s time to think about a new role for your mobile phone and start to respect it as a key to your reputation asset!
  12. MicroMoney launches the new tool for credit scoring based on Big Data and neural networks MicroMoney, a global fintech blockchain company, announced the launch of its updated scoring system which is based on Big Data tools and neural networks. The company uses these technologies in the process of loan applications approval in its lending services line of business. The system works with all the data from a borrower’s mobile phone gathered after a customer completes the online application form within the MicroMoney’s mobile app and agrees to give the company access to personal data. MicroMoney’s solution uses thousands of alternative data points from multiple sources, combined with the sophisticated algorithms to return accurate results. After a customer completes the application form, a loan can be approved in literally two clicks and within some minutes. Behind the scene is sophisticated technology which is able to quickly come through in analyzing process over 12 thousand points of data and the results available in seconds. Those are data from the user’s social accounts, contacts, financial transactions, searches in search engines, and even the music a customer like and a time spent to complete each field in the online application. The process returns results instantly, wherever the user might be. The results will be in numerical form between one and a thousand, allowing the system to approve the loan application automatically after a set amount is reached. The scoring system not only evaluates each parameter found but uses social network information to confirm a customer’s name, date of birth, employer, school or university degree and contact details. The scoring mobile application designed to help the clients to apply for a payday loan within a few minutes without any collaterals or paper documentation required. At the same time, the neural networks technologies help the company to process applications quickly and efficiently aiming to improve customer service, to reduce fraud and default, and to cut costs. “We were able to empower our scoring system with adding data of more than 500 thousands of customers in Myanmar to make it more accurate. In Big Data industry, the more data you can gain the more precise results you can achieve. Our margin depends on the exact risk rate we can forecast, so the scoring system is critical for our core business”, says Anton Dzyatkovskii, the MicroMoney’s co-founder. The company also works with neural systems for its call center operations. For example, all the scripts used in sales, customer care, and debt collection are based on neural networks allowing to improve their preciseness and effectiveness while keeping and analyzing customers questions and responses to the operation manager’s speech. If a person allows sharing personal data with other companies, all the information is available for them to access and interpret via simple integration with the secure APIs. The Big Data and neural networks platform allows businesses to serve an even larger customer base with the growing smartphone penetration worldwide.
  13. Anton - Co-founder of the MIcroMoney project talks about the details and ways of the company's development: https://www.cointelegraph.com/news/get-me-my-wedding-present-how-we-run-a-micro-lending-business-in-cambodia
  14. Some more info about the project: White Paper https://docs.google.com/document/d/1Lz3SaFqsrgrJjcuk4sW3D34-yWrWnG5clyMoNnEAXTg/editVideo from office https://goo.gl/YvJT6z10 Countries Roadmap BRIEFLY: https://goo.gl/GHSu7o10 Countries Roadmap FULLY: https://goo.gl/NNEUocWorldWide Roadmap: https://goo.gl/t6pSpwwe have working product and thousands of customers:TELEGRAM: https://t.me/micromoneyicoFB: https://www.facebook.com/micromoneymyanmarTWITTER: https://twitter.com/MicromoneyIOINSTAGRAM: https://www.instagram.com/micromoney.io/MEDIUM: https://medium.com/@micromoney.ioCRUNCHBASE: https://www.crunchbase.com/organization/micromoney-empire#/entity
  15. MicroMoney starts a $30,000,000 token distribution campaign MicroMoney, a global fintech blockchain company and lending services provider, announces the worldwide launch of token-generating event and the start of the token distribution campaign. Having two years of successful business behind its back, MicroMoney will start its token crowdsale as of October 15th. Having already accumulated over $1.8 mln from current campaign participants, MicroMoney initiates a $30 mln worth token distribution campaign with an intention to use funding for further business expansion to other regions via a franchise model. In its mission of financial inclusion for over 2 billion of unbanked and underbanked people to the global finance system, the company, already a sustainable business in Myanmar and Cambodia, has expanded its presence to Thailand, Indonesia and Sri-Lanka over the previous couple of months. According to the founder and CEO Anton Dzyatkovsky, MicroMoney makes use of the best ingredients to offer opportunities both to citizen and enterprises alike. Billions of people are locked inside a vicious circle, not being able to apply for their first loan due to credit records absence, an indispensable prerequisite of having a history of bank loans which, in turn, they are not able to get until they get their first loan from a bank or submit a number of papers. Micrononey unties this knot by offering people an opportunity to obtain their first loan thanks to an intelligent scoring solution based on neural networks, Big Data and AI technologies. The only thing they need is the access to a borrower’s smartphone data. At the same time, by just ticking one box on the questionnaire, MicroMoney clients may make their digital footprint available to other stakeholders, thus becoming rightful participants of the global economy and holders of their credit score, now eligible to offerings from other banks and organizations. As Dziatkovsky states, MicroMoney places thousands of potential clients in reach for companies, banks, insurance and telecom service providers, offering one of the lowest-cost customer acquisition models if compared to traditional banks and credit bureaus. ‘Where traditional banks spend hundreds of dollars to attract new customers, we offer Big Data at a hundred-fold less cost’, Dzyatkovsky adds. “With stable position and experience in crypto community, we are creating a blockchain-based credit score bureau which will solve the inclusion problem for billions of potential clients all over the world”. “We are happy to have earned trust from the community and received an impactful boost to our global expansion plan. We have 2 years’ track record of a stable, mature business, and our win-win business model is backed up by our shareholders, all of them with great market experience from Bloomberg, stock exchange investment companies, venture funds, banking and microfinance organizations. In our ambition to make our successful business model available for a worldwide franchise, we count on a successful token distribution campaign which will serve for a greater cause and offer token holders a true value for money”, Dzyatkovsky added. About MicroMoney MicroMoney is a global FinTech company providing the access to financial services for unbanked people on emerging markets and the access to the emerging markets audience for banks, trade, and financial organizations. MicroMoney focuses on lending services without any collaterals or paper documents requirements thanks to its scoring platform based on neural networks. We use data collected from a customer’s mobile phone to assess the potential borrower's score rate and to share the data and their analysis results with companies worldwide via platform’s API. MicroMoney is a fast-growing company with $1,25 million share capital and more than 200 employees across offices in Singapore, Thailand, Myanmar, and Cambodia. More Info: https://goo.gl/pC5jtx White Paper: https://docs.google.com/document/d/1Lz3SaFqsrgrJjcuk4sW3D34-yWrWnG5clyMoNnEAXTg/edit