By Mathew Сroth

 

MicroMoney; a global fintech-blockchain company, announced the launch of its updated scoring system which is based on Big Data tools and neural networks. The company uses these technologies in the process of loan-applications approval in its lending-services line of business.

 

The system works with all the data from a borrower’s mobile phone gathered after a customer completes the online application form within the MicroMoney’s mobile app and agrees to give the company access to personal data. MicroMoney’s solution uses thousands of alternative data points from multiple sources, combined with the sophisticated algorithms to return accurate results.

 

After a customer completes the application form, a loan can be approved in literally two clicks and within some minutes. Behind the scene is sophisticated technology which is able to quickly come through in analyzing process over 12,000 points of data and have the results available in seconds.

Instant Results from Big Data

 

Those are data from the user’s social accounts, contacts, financial transactions, searches in search engines; and even the music a customer likes, and the time spent to complete each field in the online application. The process returns results instantly, wherever the user might be.

 

The results will be in numerical form between one and a thousand, allowing the system to approve the loan application automatically after a set amount is reached. The scoring system not only evaluates each parameter found but uses social network information to confirm a customer’s name, date of birth, employer, school or university degree and contact details.

 

The scoring-mobile application is designed to help the clients to apply for a payday loan within a few minutes – without any collaterals or paper documentation required. At the same time, the neural networks technologies help the company to process applications quickly and efficiently aiming to improve customer service, to reduce fraud and default, and to cut costs.

Empowering Hundreds of Thousands

 

“We were able to empower our scoring system with adding data of more than 500,000 of customers in Myanmar to make it more accurate,” Anton Dzyatkovskii; MicroMoney’s co-founder said. “In Big Data industry, the more data you can gain the more precise results you can achieve. Our margin depends on the exact risk rate we can forecast, so the scoring system is critical for our core business.”

 

The company also works with neural systems for its call center operations. For example, all the scripts used in sales, customer care, and debt collection are based on neural networks allowing to improve their preciseness and effectiveness while keeping and analyzing customers questions and responses to the operation manager’s speech.

 

If a person allows sharing personal data with other companies, all the information is available for them to access and interpret via simple integration with the secure APIs. The Big Data and neural networks platform will allow businesses to serve an even larger customer base with the growing smartphone penetration worldwide.

MicroMoney ICO Planned

 

21 September 2017, Singapore – Crypto funds and “whales” generated almost $1m worth of token swaps with MicroMoney, a global fintech blockchain company, and lending services provider. MicroMoney’s AMM token pre-distribution is ramping up, paving the way to the actual token swap valued at $30 million.

 

Kicked off on September 15, AMM token pre-distribution has a minimum swap threshold valued at $10,000 and a soft capitalization of swaps valued at $2 million. Thus far pre-distribution generated $930,000 worth of AMM transactions. The actual token swap is scheduled to start on October 18; with a soft target of $15 million worth of swaps, and a hard capitalization of $30 million.

 

To learn more about MicroMoney please visit https://micromoney.io/.

 

https://i0.wp.com/geekcrunch.reviews/wp-content/uploads/2017/09/1-kvpEtJAi5eEzyVLy3Jf1nw.jpeg?fit=1024%2C682&ssl=1https://i0.wp.com/geekcrunch.reviews/wp-content/uploads/2017/09/1-kvpEtJAi5eEzyVLy3Jf1nw.jpeg?resize=150%2C150&ssl=1Daniel JenningsInvestmentsactual token swap valued at $30 million,AMM token pre-distribution,and lending services provider,Anton Dzyatkovskii;,Big Data and Neural Networks,Big Data and neural networks platform,Credit Scoring,Empowering Hundreds of Thousands,global fintech blockchain company,Instant Results from Big Data,loan aplication,MicroMoney,MicroMoney ICO Planned,MicroMoney launches the New Tool for Credit Scoring based on Big Data and Neural Networks,MicroMoney’s AMM token pre-distribution,MicroMoney’s solution,minimum swap threshold valued at $10000,New Tool for Credit Scoring,pre-distribution generated $930000 worth of AMM transactions.,secure API,soft capitalization of swaps valued at $2 millionBy Mathew Сroth   MicroMoney; a global fintech-blockchain company, announced the launch of its updated scoring system which is based on Big Data tools and neural networks. The company uses these technologies in the process of loan-applications approval in its lending-services line of business.   The system works with all the data from...From A Geek to a Geek