MicroMoney Expansion Blitz Continues with New Franchise Opening in Malaysia

MicroMoney Expansion Blitz Continues with New Franchise Opening in Malaysia
MicroMoney, a blockchain company focused on helping unbanked people obtain social loans and credit history, announced today an imminent expansion into Malaysia. This latest expansion brings MicroMoney’s count of Southeast Asian operations to six, with presences in Cambodia, Myanmar, Thailand, Indonesia, Sri-Lanka and now Malaysia.
Chosen to head up MicroMoney’s Malaysia franchise was the same award-winning, sustainably-driven Micro and SME finance organization as in Sri Lanka — Prosperous Capital & Credit Limited . In 2015 they won the best new Micro and SME Provider Award from ‘The Global Banking and Finance Review’, and again in the same category from ‘The International Finance Magazine’. The company already boasts to its name the title of first microfinance organization in Sri Lanka to have been given full ISO certification, and intends to bring these same accomplishments to Malaysia.
“With the existing partnership between Prosperous Capital & Credit Limited and MicroMoney we knew we had a winning combination. It seemed logical then that they would be chosen to help establish our next presence in Malaysia.” explained Anton Dzyatkovskiy. “The news comes at an exciting time for our company. As we enter the final phase of our token distribution campaign, it’s encouraging for our supporters to see that we are continuing to aggressively pursue our roadmap and fulfil our promises.”
The Malaysian money lending market is one of the most promising markets in Asia due to several factors. Chiefly, they have are a high GDP per capita ($10.9k), a high average income per GDP ($1.05k) and high bank account penetration (70%). There are also other factors supportive of MicroMoney’s business model, such as smartphone penetration of 63% as of 2015. According to the World Bank Data, the penetration of the banking sector in Malaysia, which is measured by M2 (Broad Money) to GDP ratio was at 130.6% in 2016. 
MicroMoney clients are given loan approvals over the phone, by installing the MicroMoney app onto their smartphones, eliminating the need to go into a physical bank and ultimately saving clients precious time. By apply a social loan with MicroMoney, customers will have a credit score intelligently assessed in less than 15 minutes, and if approved, can receive up to $20 instantly. As their credit history improves, their loan amount is increased. Once a credit history is created, the information stored on the MicroMoney blockchain is shared with banks and financial organizations, giving users the ability to enter the traditional financial system.
 
About MicroMoney
Founded in 2015, MicroMoney International (micromoney.io) is a global fintech company offering financial services for the unbanked in the emerging markets, and access to the unbanked audience for banks, trade, and financial organizations. MicroMoney is a fast-growing company valued at $1.85 million, with over 85 employees in six international locations.

MicroMoney makes lending decisions using a proprietary, A.I. algorithms, machine learning, and Big Data based mobile scoring system. MicroMoney’s lending process doesn’t require any collateral or paper-based documentation. MicroMoney collects customers’ opt-in mobile phone data to establish potential borrowers’ credit score. MicroMoney uses the score to generate credit profiles, stored with MicroMoney Blockchain Credit Bureau, which in turn shares this data with financial institutions worldwide. For more information please visit: https://micromoney.io/

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