There are 196 countries in the world, and 100 of those countries represent our target market. And since 2015, we provide individuals and SMEs with short-term loans as the best solution for their financial needs. MicroMoney uses innovative risk scoring powered by artificial neural network.
MicroMoney is establishing new branches in Indonesia, Sri Lanka, and the Philippines. The next target countries are Vietnam, Malaysia, Singapore, Hong Kong, Nigeria, and China as a promising market. These branches will start operating in Q3 2017 - Q1 2018. For the purpose of further business expansion and developing new products, MicroMoney has decided to start a Token Distribution.
Mission
- Solving hunger and poverty by providing unbanked people with the access to financial services and a possibility to build their first credit history on a Blockchain.
- Helping unbanked small entrepreneurs grow their businesses by offering them online loans.
- Enabling banks, financial companies, einstitutions, and retail businesses worldwide to efficiently scale and serve customers, who previously had no access to their services.
- Raising financial awareness among our clients by offering consulting services and educational materials.
- Creating an extensive micro-financing ecosystem by providing our franchise to local partners.
- Enabling Blockchain companies to efficiently scale their customer base by getting access to our open source Credit Bureau with millions of un(der)served people.
- Bringing financially excluded people to the new global crypto economy.
MicroMoney was established as a company focused on micro-financing in the money lending
industry. We aim to provide the best solution to individuals and SMEs to meet their financial
needs. MicroMoney is successfully operating in Cambodia, Myanmar, and Thailand, where
our back office is located.
We provide customers with online loans without any collateral requirements. Clients can get
the money by just filling in the application form on our mobile app. Using machine learning
algorithms, we can approve a loan in just 15 seconds and are able to deliver the funds in 1
hour. After setting up our branch in Cambodia it took only 3 months to make the business
profitable. Founded in 2016, MicroMoney Myanmar is equally showing stable performance
growth.
Products
Social/Emergency Loans (PDLs) and Installment Loans
- Loan tenor: 14, 21, 28 days; 2-3 months.
- Сost of a loan: No interest rate, fixed commission per day. In 85% of cases, the over payment does not exceed 30% of loan amount.
- Loan amount: for first loans - just ~$23. The amount increases for the following loans.
- We teach our customers to borrow wisely. For example, not to borrow more than 20% of one’s monthly income.
- Average loan amount: $23-250 for MM, KH, PH, ID, LK. For SG, HK, CH - may vary.
- No collateral.
- Time-to-money: immediate loans; decision on loan approval takes 15 seconds, money delivery occurs within 1 hour.
- Loan disbursement channel: 1st loan is disbursed through a domestic remittance or a bank account (also by teaching customers how to open a bank account). The following loans are disbursed through domestic remittance, bank accounts, and payment systems. We are going to implement Everex’s e-wallet in order to, provide our customers with loans in cryptocash.
- Documents required: applying online. Loan approval is based on our own scoring algorithm (see respective paragraph for more details).
Loans for Small Entrepreneurs (SME Loans)
- Loan tenor: 2-3 months.
- Сost of a loan: competitive interest rate depending on business type.
- Loan amount: no more than 30% of SME’s monthly turnover, $200-500.
- No collateral.
- Time-to-money: immediate loans; decision on loan approval takes 15 seconds, money delivery occurs within 1 hour.
- Loan disbursement channel: 1st loan is disbursed through a domestic remittance or a bank account (also by teaching customers how to open a bank account). The following loans are disbursed through domestic remittance, bank accounts, and payment systems. We are going to implement Everex’s e-wallet in order to, provide our customers with loans in cryptocash.
- Documents required: Applying online. Loan approval is based on our own scoring algorithm (see respective paragraph for more details) + analyzing cash fl w of borrower.
Even in countries with a developed lending market, credit bureau coverage remains low. For instance, in Indonesia, there are almost 10 thousand lending entities operating. Still, there are no countrywide credit bureaus. This inhibits market development and is detrimental for both business and customers.
Big Data collected by MicroMoney may provide business value for banks and MFIs. It could be beneficial for e-commerce, telecom, and insurance industries as well. The data at MicroMoney’s disposal helps to facilitate access to a new audience, segment potential customers by interests, and effectively target consumer offers. Thus, the business gets an opportunity to reduce risks, and MicroMoney customers receive more advantageous consumer offers.
Combined Operation Diagram
Token Distribution
The MicroMoney Token distribution and the corresponding token creation process will be organized around smart contracts running on Ethereum.
Token name: AMM
Total Token Supply: 60,000,000 AMM.
Tokens that are not sold during the Token Distribution will be destroyed.
Team
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