Tuesday Team Talks №23
TruX — Smart Business Financing Platform
Dear Community,
We have had an amazing outpour of support for our innovative, next gen financing solution since our announcement last week. We would like to thank our supporters for the kind, encouraging, and eager comments that have been coming in through social media and emails.
As mentioned in our last blog, over the course of the next few weeks we will be educating our supporters about our solution via videos, GIFs, infographics and more; as well as updating everybody on the status of beta testing and regulatory approval. On this note, we have decided to remove the updated whitepaper from the website as we would like to maintain competitive advantage during the testing period.
Introducing TruX, the Smart Business Financing Platform from FintruX Network that enables creditors to easily become lenders.
FintruX adjudicates every borrower on the platform, constructing a transparent trust profile which provides their creditors with a detailed understanding of their clients’ creditworthiness. Based on the adjudication, digital credit tokens representing their credit limit is granted for the borrower to send to their creditors, enabling them to earn interest with option to cash out any amount of the debt within 30 days. This ensures transparency and trust between all involved parties.
Loans facilitated on our platform benefits from our novel credit enhancers, which provides lenders levels of cascading insurances in the case of defaults. Additionally, we provide decentralized reputation profiles which enables lenders to provide ratings and reviews to their borrowers. Any delinquency on the financing can directly impact borrowers’ credit score. With all these measures in place, lenders on FintruX Network are participating in risk-reduced financing.
Using digital credit tokens our platform removes the need for physical infrastructure and unnecessary legal paperwork, enhancing convenience and total automation; increasing efficiency, reducing manual processes and improving the overall user experience.
The net result is faster growth of the small business sector, a major driver in any economy; through greater employment and innovation, ultimately driving income equality.
What are Credit Enhancers?
FintruX implements novel credit enhancers to perform unprecedented risk reduction in SME financing. To protect and incent the lenders, borrowers may choose to deposit <10% of their FRX credit limit in a global credit-risk-pool which will cover potential borrower defaults. Lastly, the FintruX reserve serves as the ultimate protection for all potential defaults.
TruX Deck
Here is an informative pitch deck that explains our model and business in a nutshell.
Please keep a lookout for other interesting collateral and feature updates about TruX in the weeks to follow.
Happy Tuesday,
The FintruX Team
About us: FintruX Network is a global provider of financial and business solutions for underserved start-ups and SMEs. By offering businesses access to a dynamic knowledge base and next generation financial platforms, FintruX Network aims to be the one-stop resource and solution provider for business growth and sustainability.
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