FintruX is a blockchain project that provides peer-to-peer (P2P) networks for market lending. Their platform connects borrowers, lenders, and service agents, enabling them to make every contract of the borrower in real-time. This provides an unrealistic level of efficiency with the current lending market. Better efficiency is just one of the many benefits that this platform provides.
FintruX networks is one of the world's first Blockchain, based online marketplace and automated administration platform connecting borrowers, lenders, and specialized servicing agents, enabling them to configure and construct each borrower contract real-time.
FintruX Network is creating a marketplace and automated administration platform for credit enhanced financing serving small businesses as borrowers, accredited investors and financial institutions as lenders, and specialized service agents as partners.
By disrupting the way financing is being secured, we make borrowing and lending a no-brainer for both borrowers and investors. FintruX Network is the necessary ecosystem for unsecured loan participants, placing more and more freedom in the hands of the people.
Marketing strategy FintruX
The funding raised through the crowdsale will be used to accelerate the building of the FintruX Network to move it from alpha into beta and production in partnership with a few financing partners during Q2-2018. Pending on the success of the crowdsale, the distribution of funds will mainly go towards development, infrastructure and key hires such as developers and marketers.
Problems
Most sources of funding are made by third parties, such as brokers and other intermediaries. It increases the cost, time and complexity of the process. In addition, the administrative process is usually labor-intensive. Most of the financing agreements are difficult to understand, and special instructions such as trade, repurchase, refinancing, prepayment, processing at the end of time, etc., are mainly executed manually in spreadsheets.
Most systems used by investors who are not fully automated, records are changing, censored and obeyed the patriotic act of the country of domicile.
The financing industry has not yet adopted or adopted new technologies to meet the demand for new products and growing concern about data confidentiality, increased competition and consumer behavior change in this direction.
Financing processes that manage risks, bonuses, and claims are typically related to significant data exchanges between multiple parties. At present, different parties will store their own copies of data and process them separately.
This makes it difficult to synchronize and collaborate through the overall process.Internet finance portals, trying to circumvent intermediaries, could not solve the above problems.
How do they solve these issues?
The FintruX team wants to make unsecured loans highly secure by using blockchain technology.
They are the pioneers of using blockchain in P2P platforms and are planning to administer smart contracts to configure specialized contracts for each borrower in real time depending on the agreed upon terms by both parties in the transaction.
Using smart contracts, eliminates the need for physical infrastructure, automates the process and improves the overall lending experience and reduces the cost too making it cheaper for all the stakeholders.
To solve the issue of the inconsistent credit rating process, the platform uses cascading levels of credit enhancements to improve credit worthiness and to reduce the risks while sanctioning unsecured loans. This technique guarantees the lender that the borrower will honor his obligation by over-collateralization as additional collateral, local third — party guarantor, cross-collateralization as insurance, and FintruX ultimate protection reserve
FintruX will reserve 10% of every money lent transaction to create a buffer level. So, if any of the borrowers defaults on his repayment, the lender will be protected by this buffer level provided by the platform.
Benefits to Lenders
Access to Risk-Reduced Investing. Credit enhancements historically only available to securitization funding of large portfolios is now available to lenders on FintruX Network. By applying cascading credit enhancements, FintruX loss.
Superior Lending Experience. We offer a fully automated application process and provide lenders with access to live support and online tools throughout the process and for the lifetime of the financing. Our goal is to form longterm relationships with lenders, facilitating their relatively risk-free offerings to their borrowers.
Branding Opportunity. Borrowers can provide ratings and transparent reviews on a blockchain to establish trusted lenders within the ecosystem. With better ratings, lenders can build up their brand and reputation. Moreover, lenders can gain access to qualified feedback and market research data to enhance the service they provide to borrowers. Access to a
Network of Expertise. A network of rated agencies such as fraud, identity, credit scoring and credit decision are readily available.
Attractive Returns. By having access to lower risk of funding and cutting major costs associated with administering the financing, these savings become additional profit margins. Once their decision tables are chosen and configured, this automated money machine can generate revenue while the lenders spend time with their families.
No Upfront Cost to Lenders. No lump-sum license fee, no enhancement fee, no maintenance fee, no support fee for a system; in fact, no upfront cost is necessary. The only fee to a lender is a transactional based fee and servicing cost that can be transferred to the borrowers. Each financing is managed programmatically by individual and independent smart contract. It is essentially a self-serve engine for the borrowers; saving labor and time servicing the borrower contract.
ICO DETAIL :
Token Name : FINTRUX
Symbol : FTX
PRE SALE ICO AT : 07–21.01.2018
PRE SALE SOFT CAP : 5000 ETH
MAIN ICO SALE AT : 7–28.02.2018
OVERALL HARD CAP : 75,000,000 FTX (25M USD)
for more information on fintrux please visit the link site located below:
Website : https://www.fintrux.com/#about-section
WhitePaper : https://www.fintrux.com/home/doc/whitepaper.pdf
Facebook : https://web.facebook.com/FintruX/
Telegram : https://t.me/FintruX
Ann Thread : https://bitcointalk.org/index.php?topic=2286042
Twitter : https://twitter.com/fintrux