Quote from: globalcitizen on October 29, 2017, 02:18:16 PM

Quote from: cuenzy on October 29, 2017, 10:18:47 AM

Hi Guys,

What makes it different from other competitions in the market today? Elixir for one has a good roadmap and user interface in the future

Good question. Dev please, how can you explain what gives you an edge over the competition. And by the way, who are the competitors and what are you doing differently as your USP?

Those are great questions, thank you for asking! Please allow me to answer your question in two stages.

We have an edge over the competition because no one else is making unsecured loans secure. Cost reduction is one of the most important motivations in securitization. It is often done via credit enhancement. We can apply the same principals to reduce the interest rate required by unsecured loans, making it attractive to both borrowers and lenders. Our team combined >50 years of experience in the securitization sector enables us to leverage our skills and expertise to effectively apply these concepts to FintruX.

Our goal at FintruX Network is to disrupt the way unsecured loans are being originated and administered. An unsecured loan is a loan that is not protected or secured by any asset. In this case the lender is taking a lot more risk and would likely charge a higher interest rate. The riskier the loan, the more expensive it will be. We are going to change that.

There are options to obtain an unsecured loan for your business. Local banks, private lenders, and marketplace lenders such as peer-to-peer and direct platform lenders. However, there are rooms for improvement in the areas of transparency, risk & rate reduction, and ease & speed of funding. FintruX Network can deliver an experience to address all of these at the same time.
At FintruX Network we facilitate marketplace lending in a true peer-to-peer network. Through credit enhancement, we improve credit worthiness. The lender is reassured that the borrower will honor the obligation via additional collateral, insurance, and a third-party guarantor. Credit enhancement reduces credit/default risk of a debt, thereby increasing the overall credit rating and lowering interest rates simultaneously.

Our competitors are platform lenders that lend to small businesses which can be divided into two main categories:
1. Traditional P2P and Direct Lenders - Lending within the same country with the countrys currency (eg. Funding Circle, OnDeck and Kabbage)
Overall, all three of these companies seek to address one major structural flaw in the current small business credit environment: banks and other traditional capital sources are not lending to SMB's. That is why more and more business owners are turning to alternative finance to grow their companies.

2. Crypto currency using smart contract - Lending using blockchain smart contract as an intermediary (eg. ETHLend, Lendoit, SALT)
Using tokens as a collateral, ETHLend is a fully decentralized peer to peer lending platform using smart contracts on the Ethereum blockchain for lending Ether. ETHLend does not generate score and does not have any compensation funds to protect lenders.

Lendoit is similar to ETHLend but it adds borrower scoring, reputation, collector and 2% from the crowdsale as compensation fund to protect lenders.

SALT lends in fiat currencies. It is a centralized loans platform for loans amount higher than US$5,000. It uses the smart contract only for depositing crypto currency as collateral. Their target market is borrowers with crypto currencies who dont want to liquidate into fiat. Only Accredited Investors and qualified financial institutions can become lenders on SALT.

Where we differentiate is the following:
FintruX Network is a fully decentralized peer to peer platform generating and deploying one unique smart contract on the Ethereum blockchain for each individual lending. For unsecured loans, it uses credit enhancing tools such as over-collateralization, guarantors, cross-collateralization, and 5% of all FTX tokens to neutralize risk for lenders.

Our target borrowers are small businesses, especially startups, who wish to take advantage of lower rates offered by our platform because we make unsecured loans highly secure. Specialized agents on fraud, identity, credit scoring and decisions are partners in this ecosystem. Only accredited investors and financial institutions can become lenders on phase I of FintruX Network.

There are hundreds of marketplace lending platforms out there, we differ in that we enable borrowers to borrow at a significantly lower rate at ease and lenders lend with confidence in no time at all.

I hope this answers your questions, and if not, feel free to ask more! If you are interested, and want additional reading, please feel free to read our whitepaper by clicking the link below.

WHITEPAPER