Getting an unsecured loan can be easy, fast, and affordable with FintruX ecosystem of rated agencies, decentralized technology and revolutionary credit enhancements.
But how do FintruX differs from already available P2P lending Systems, when there are already a number of players in the market?
Peer-to-peer platform lenders use other investors to fund their loans. This means that the money for your business loan might be originating from dozens, or even hundreds of individual investors all over the world. They usually offer more flexible approval and repayment terms than either bank or direct online lenders, but their interest rates are generally a bit higher.
However, something is still missing, the current P2P platforms are not true P2P because they are using intermediates such as trust accounts and others, just like direct lenders; they lack transparency and they do not provide adequate protection to lenders' investments.
Advantages over other similar players:
FintruX Network partners with rated agencies such as identity, KYC/AML, credit scoring, credit model, and payments to provide lenders a wide variety of choices to adjudicate their loans. These agencies all play a role in the instant matching of our lenders and borrowers.
Many service agencies are still charging an upfront licensing fee, annual maintenance fee, and hourly customization fee. FintruX Network will convince them to charge our lenders by transaction, in FTX tokens. This simplifies the onboarding experience by removing the barrier to entry.
The Ethereum blockchain provides the highest availability. It is decentralized and its hashing provides immense security on identification and privacy. Smart contracts are not prone to failures such as power cuts, node failures etc. There is no risk of misplacing or losing the customer contract as the contract is saved on a distributed ledger
Smart contracts provide transparency to both borrowers and lenders. It is unambiguous and choices made are visible on a user-friendly interface. Both parties can examine each contract at a granular level and continue to monitor ongoing performance. Instead of one huge program to process millions of borrower contracts, our platform is comprised of millions small smart contracts, fully-customized and simplified for each borrower contract. No more "if ... then ... else" statements and unnecessary code. Smaller programs lead to lower gas fees. This provides tremendous time and cost advantages
Fintrux cascading credit enhancements provides unprecedented risk reduction for unsecured loans making it easy to borrow at a reasonable interest rate. This is ideal in serving the underserved by unlocking funding for small businesses that need it most, especially startups
We provide a decentralized review platform for all participants built on Ethereum smart contracts. Borrowers can now rate their lenders and have a reliable source of comparability between different lenders. The same for lenders who can now rate and write reviews on their borrowers and agencies; these can be used for the assessment of credit risk.
For more information visit:
website: https://www.fintrux.com/
whitepaper: https://www.fintrux.com/home/doc/whitepaper.pdf
Twitter: https://www.twitter.com/fintrux
Telegram: https://t.me/FintruX
Ethereum Address: 0x8027cb9fD18F935bB06cC98e0dfd48D074F87dc2
BTC: 19Apd2goafbofkndwkpmgxqMNpfsfJVaUX