VF2018 Silver Partner: FINTRUX NETWORK

FintruX Network | Conrad Lin | November 7, 2018

FintruX logo800 - VF2018 Silver Partner:  FINTRUX NETWORKMaking Unsecured Loans Easy, Fast, and Highly Secure

FintruX Network is the true P2P lending ecosystem built on the blockchain, powered by credit enhancements and no-code generation. The platform makes it easy for borrowers to connect with reputable lenders and servicing agencies, save money with competitive interest rates, and get an affordable loan within minutes in a fair and transparent process without physical collateral. FintruX Network aims to disrupt the way unsecured loans are being originated and administered, making unsecured loans highly secure.

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 are going to change that.

While pursuing traditional financing, small businesses do not have access to loans when they most need it. Banks prefer to lend cash on cash, and the loan amounts requested are usually too small for financial institutions to do efficiently. If a loan is procured from alternative financing sources, the interest rate is generally too high. Finance companies only utilize a few data sets to evaluate SME borrower worthiness resulting in poor representation of credit, and traditional p2p lenders offer high interest rates due to private equity backing. Additionally, capital that could have been invested in small business credit has been largely locked out of the market. Individual investors generally lack the size and access to directly invest in small business credit, and while institutional investors have had some access to this market, they lack the tools to customize portfolios to their specific risk tolerance.

See:  The lending revolution: How digital credit is changing banks from the inside

FintruX Network is comprised by a dynamic team of skilled professionals in strategy, commercial lending, operations, marketing, sales, and technology. Our technology is supported by Robocoder Corporation, which has over 20 years of enterprise software development experience. The technology team has been servicing the securitization industry in Canada since 1999, and is currently managing billions of dollars of assets for reputable banks and insurance companies. Our team is complimented with advisors and directors ranging from esteemed individuals who have held prominent positions such as managing director of Dun and Bradstreet Asia, and director of TNG Asia, chairman of the ELFA in USA, to leaders at various fortune 500 companies in the telecom, banking, and technology sectors.

We leverage our extensive expertise and technology to create an ecosystem of lenders, borrowers, and service agencies operating in a true peer-to-peer marketplace to reduce the friction of small business (SME) lending. Our platform makes unsecured financing easy, fast, and highly secure with credit enhancements, no-code generation, and an open ecosystem.


NCFA Jan 2018 resize - VF2018 Silver Partner:  FINTRUX NETWORK The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - VF2018 Silver Partner:  FINTRUX NETWORKFF Logo 400 v3 - VF2018 Silver Partner:  FINTRUX NETWORKcommunity social impact - VF2018 Silver Partner:  FINTRUX NETWORK
NCFA Newsletter subscribe600 - VF2018 Silver Partner:  FINTRUX NETWORK

FFCON20 Homepage Banner 600 - VF2018 Silver Partner:  FINTRUX NETWORK

World Economic Forum | Yuval Harari | Jan 24, 2020 Humanity faces three existential threats this century, warned historian Yuval Harari at Davos 2020. Technology risks dividing the world into wealthy elites and exploited "data colonies," he explained. "If you like the World Cup - you are already a globalist," he said, making the case for better cooperation to tackle the challenges. As we enter the third decade of the twenty-first Century, humanity faces so many issues and questions, that it is really hard to know what to focus on. So I would like to use the next twenty minutes to help us focus of all the different issues we face. Three problems pose existential challenges to our species. These three existential challenges are nuclear war, ecological collapse and technological disruption. We should focus on them. Now nuclear war and ecological collapse are already familiar threats, so let me spend some time explaining the less familiar threat posed by technological disruption. In Davos we hear so much about the enormous promises of technology – and these promises are certainly real. But technology might also disrupt human society and the very meaning of human life in numerous ways, ranging from the ...
Read More
how to survive the 21st century - VF2018 Silver Partner:  FINTRUX NETWORK
Verdict | Ellen Daniel | Jan 13, 2020 Open banking was first launched in January 2018 and received much attention from the financial community as the potential bringer of fintech disruption. The regulations require UK-regulated banks to share their customers’ financial data (with permission) with third party providers through the use of application programming interfaces (APIs) in order to make it easier for customers to access financial services and for TPPs to develop new products. Today marks open banking’s second anniversary and while it has impacted the financial landscape, prompting incumbent banks to adapt to innovation and opening up new opportunities in terms of consumer experience, some have argued that the regulation is yet to live up to expectations. See:  Open Banking in the UK: what’s happened so far Banks had until March 2019 to establish a “sandbox” environment that third party providers could access and use to test products and until June to make their APIs available to third parties, but many European banks have not adequately met key deadlines, stalling innovation. Although many traditional banks are now adhering to open banking regulations, more could be done to ensure that they also benefit from the new landscape in terms ...
Read More
open banking image2 - VF2018 Silver Partner:  FINTRUX NETWORK
The New York Times | Ruchir Sharma | Jan 20, 2020 To outsiders, China may seem like a surveillance state. But tech has fueled growth and helped stave off recession. Landing in Shanghai recently, I found myself in the middle of a tech revolution remarkable in its sweep. The passport scanner automatically addresses visitors in their native tongues. Digital payment apps have replaced cash. Outsiders trying to use paper money get blank stares from store clerks. Nearby in the city of Hangzhou a prototype hotel called FlyZoo uses facial recognition to open doors, no keys required. Robots mix cocktails and provide room service. Farther south in Shenzhen, we flew the same drones that are already making e-commerce deliveries in rural China. Downtown traffic flowed smoothly, guided by synced stoplights and restrained by police cameras. Outside China, these technologies are seen as harbingers of an “automated authoritarianism,” using video cameras and facial recognition systems to thwart lawbreakers and a “citizen score” to rank citizens for political reliability. An advanced version has been deployed to counter unrest among Muslim Uighurs in the inland region of Xinjiang. But in China as a whole, surveys show that trust in technology is high, concern about ...
Read More
Driverless delivery bot in China - VF2018 Silver Partner:  FINTRUX NETWORK
TechCrunch | Danny Crichton | Jan 17, 2020 I talked yesterday about how VCs are just tired these days. Too many deals, too little time per deal, and constant hyper-competition with other VCs for the same equity. One founder friend of mine noted to me last night that he has already received inbound requests from more than 90 investors over the past year about his next round — and he’s not even (presumably) fundraising. “I may have missed a few,” he deadpans — and really, how could one not? All that frenetic activity, though, leads us to the paradox at the heart of 2020 venture capital: It’s the largest funds that are writing the earliest, smallest checks. That’s a paradox because big funds need big rounds to invest in. A billion-dollar fund can’t write 800 $1 million seed checks with dollars left over for management fees (well, they could, but that would be obnoxious and impossible to track). Instead, the usual pattern is that as a firm’s fund size grows, its managing partners increasingly move to later-stage rounds to be able to efficiently deploy that capital. So the $200 million fund that used to write $8 million Series As transforms ...
Read More
VC funding rounds 1 - VF2018 Silver Partner:  FINTRUX NETWORK
NCFA and TFI | January 23, 2020 Strengthening Canada's fintech and financial reach through collaboration, competition and networking at FFCON20 TORONTO, ON / ACCESSWIRE / January 23, 2020 / The National Crowdfunding & Fintech Association of Canada (NCFA) and Toronto Finance International (TFI) announced today a collaborative partnership and the joint launch of the 2020 Fintech and Financing Conference and Expo (FFCON20) to be held in downtown Toronto on March 23-24, 2020. The theme for the 6th annual FFCON is RISE, reflecting the joint efforts of the two associations, NCFA and TFI, to build and increase the success and sustainability of Canada's fintech and financial sector. With finance and fintech touching virtually every business and entity of people's lives, FFCON draws national interest and global participation from high-growth startups and leading industry experts across a variety of disciplines and backgrounds. You will find fintech entrepreneurs from across all fintech sectors including digital banking, peer to peer finance, AI, capital markets, wealth management, payments, crypto and blockchain along with innovative financial institutions, investors, regulators, government and major industry stakeholders, all in one place. FFCON facilitates thought-provoking and relevant discussions, lively debates and personal networking for the cross-pollination of ideas and experiences ...
Read More
FFCON20 Homepage Banner v1 - VF2018 Silver Partner:  FINTRUX NETWORK
Wealthsimple | Press Release | Jan 21, 2020 Wealthsimple Cash offers 2.4% interest rate and lets Canadians save and spend through a mobile app and metal card TORONTO, Jan. 21, 2020 /CNW/ - Wealthsimple has launched its first hybrid saving and spending product: Wealthsimple Cash. The new account offers users the ability to save and spend with one of Canada's highest non-promotional interest rates of 2.4% - in addition to a host of features that help people earn more on every dollar in their Cash account. Wealthsimple Cash combines a saving and spending account to give Canadians the power to have both an account that allows for everyday purchases while also providing a safe place to grow their money. Cash clients will benefit from no monthly account fees, no low balance fees, no foreign transaction fees worldwide, and ATM fee reimbursements - all through a sleek, metal card designed to make spending responsibly easy. "Canadians are used to the status quo when it comes to everyday banking - multiple accounts, high fees and low interest," said Michael Katchen, CEO and co-founder, Wealthsimple. "With Wealthsimple Cash, users can enjoy the power of a high interest savings account for all of their day-to-day spending needs ...
Read More
wealthsimple account - VF2018 Silver Partner:  FINTRUX NETWORK
Investment Executive | James Langton | Jan 21, 2020 Grant Vingoe will take over as acting chair following Jensen’s departure on April 15 Maureen Jensen, the head of Canada’s largest securities regulator, is stepping down as chair and CEO of the Ontario Securities Commission (OSC) 10 months early. The OSC announced that Jensen will leave the helm of the commission on April 15. She has headed the OSC since 2016, and was reappointed to a second term that began in 2018 and was to run until February 2021. OSC vice chair Grant Vingoe will take over as acting chair in April. Prior to becoming head of the OSC and its first female chair, Jensen was executive director and chief administrative officer of the commission from 2011 to 2016. “It has been an honour to serve Ontario investors and market participants,” Jensen said in a statement. “These past nine years have been the most meaningful in my career. I have enjoyed every moment working alongside my respected colleagues and leadership team, and contributing to Ontario’s vibrant, healthy and internationally recognized capital markets.” As head of the OSC, Jensen championed improved retail investor protection. That effort culminated most recently with the adoption ...
Read More
Maureen jenson osc - VF2018 Silver Partner:  FINTRUX NETWORK
McKinsey & Company | By Martin Dewhurst and Paul Willmott | Sep 2014 As artificial intelligence takes hold, what will it take to be an effective executive? What would it take for algorithms to take over the C-suite? And what will be senior leaders’ most important contributions if they do? Our answers to these admittedly speculative questions rest on our work with senior leaders in a range of industries, particularly those on the vanguard of the big data and advanced-analytics revolution. We have also worked extensively alongside executives who have been experimenting most actively with opening up their companies and decision-making processes through crowdsourcing and social platforms within and across organizational boundaries. See:  The Enterprise Automation Imperative—Why Modern Societies Will Need All the Productivity They Can Get Our argument is simple: the advances of brilliant machines will astound us, but they will transform the lives of senior executives only if managerial advances enable them to. There’s still a great deal of work to be done to create data sets worthy of the most intelligent machines and their burgeoning decision-making potential. On top of that, there’s a need for senior leaders to “let go” in ways that run counter to a ...
Read More
Man vs machine - VF2018 Silver Partner:  FINTRUX NETWORK
FT Partners | Jan 2020 Executive Summary: The banking sector is experiencing a major shift globally, as Challenger Banks are becoming increasingly formidable competitors to traditional banks and have begun to capture significant market share. Furthermore, the lines between banks and other consumer financial services providers are blurring, with several alternative lenders and robo-advisors beginning to offer banking products to their customers. E-commerce / internet giants are also jumping into the fray with Google and Amazon, among others, beginning to offer banking products. In response to the emergence of Challenger Banks, a number of incumbent banks have launched their own FinTech brands, and traditional financial institutions will likely turn to FinTech solution providers in order to defend their turfs. Download this Jan 2020 FT Partners Fintech research (216 page PDF) -> Now The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in ...
Read More
FTP rise of challenger banks research - VF2018 Silver Partner:  FINTRUX NETWORK
South China Morning Post | Enoch Yiu  | Jan 13, 2020 Hong Kong residents can expect to benefit from cheaper and better banking services with the launch of more virtual banks this year, according to high-profile speakers at the Asian Financial Forum. Their comments came as it was revealed the Hong Kong Monetary Authority has hit an important milestone in its efforts to promote financial technology (fintech). Half the population of the city has now signed up to its Faster Payment System, which enables the free transfer of money between bank accounts via mobile phone. The development shows Hong Kong is moving quickly into a new era of branchless banking, a shift that brings up challenges for traditional lenders which must innovate to cope with the competition, said officials at the annual conference held by the Hong Kong government. “The Faster Payment System is an important move for the city to develop its fintech. The system has been very popular with the Hong Kong public,” said James Lau, Secretary for Financial Services and the Treasury during a panel discussion at the forum on Monday. See:  Banks have lost a quarter of the payments franchise to new players Hong Kong being ...
Read More
Faster payment system adoption grows in HK - VF2018 Silver Partner:  FINTRUX NETWORK