FintruX aims to make unsecured loans highly secure. Harnessing over two decades of experience serving the securitization sector, we apply cascading levels of credit enhancements to offer unprecedented risk reduction towards unsecured loans. Interest cost reduction is one of the most important motivations in securitization. It is often done via credit enhancement.
We can apply the same principles to reduce the high interest rates normally associated with unsecured loans, making it attractive to both borrowers and lenders. Our goal at FintruX Network is to disrupt the way unsecured loans are being originated and administered. This innovative concept solves three major issues for small businesses, especially startups, to borrow from accredited investors and financial institutions. By applying credit enhancements, FintruX Network seeks to neutralize the lender's credit risk and, in the case of a default, provide cascading levels of insurances to cover the loss – thereby increasing the overall credit rating and lowering interest rates simultaneously. The four cascading levels of credit enhancement include over-collateralization as additional collateral, a local third-party guarantor, cross-collateralization as insurance, and FintruX ultimate protection reserve. A unique smart contract is generated and deployed by FintruX Network for each individual borrowing at real time to provide unambiguous, immutable, and censorship resistant records where no arbitration is required. In addition to simplifying the loan application process via instant matching, FintruX Network also provides borrowers with post-funding self-serve administration options such as refinance and prepayment. FintruX Network is a multi-sided marketplace and ecosystem that delivers value not just to borrowers and lenders, but also to third-party guarantors and specialized service agents. We are making borrowing and lending a no-brainer for both borrowers and investors.
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 make borrowing and lending a no-brainer for both borrowers and investors.
FintruX Network 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.
Our technology supports this innovative marketplace and administration model to efficiently connect and process the global supply and demand of capital.
Our platform also removes the need for physical infrastructure and brings out convenience and total automation, increasing efficiency, reducing manual processes and improving the overall borrowing and lending experience.
By applying credit enhancements, FintruX Network will virtually neutralize the lender’s credit risk and, in the case of a default, provide cascading levels of insurance to cover any possible loss. With risk reduced, lenders have peace of mind and the interest rates for borrowers is lowered.
LEVEL 1: Over-Collateralization
Covers 1 out of 10 bad loans
FintruX Network holds back 10% of each loan as over-collateralization for additional default protection. This serves as the primary level of security for lenders.
LEVEL 2: Third-Party Guarantors
Takes care of overflow losses
Individuals are invited to participate on the platform as a guarantor to the loans of their choice. Guarantors choose their risk & compensation packages, and in the case of defaults, cover the losses.
LEVEL 3: Cross-Collateralization
Covers multiple bad loans
The 10% held back from every loan is pooled together in a cross-collateralization pool which functions as an insurance to cover all loans within the same class. When invested properly to match the obligations, this pool can offer a sufficient coverage ratio against the average loan loss.
LEVEL 4: FintruX Reserve
Last resort protection
5% of all FTX Tokens have been reserved to cover any unexpected losses in the unlikely event that all previous credit enhancers fail. This is the ultimate protection.
Shortly about ICO:
PreICO Price 1 ETH = 1,650 FTX
Price 1 ETH = 1,500 FTX
Minimum investment 0.1 ETH
Soft cap 5,000 ETH
Hard cap 75,000,000 FTX
Website - https://www.fintrux.com/
Whitepaper - https://www.fintrux.com/home/doc/whitepaper.pdf
ANN - https://bitcointalk.org/index.php?topic=2286042.0
(My profile at BitcoinTalk https://bitcointalk.org/index.php?action=profile;u=1362052)
(My Ethereum adress 0xe319324f0599159081204669428d1860d6740359 )