WHAT IS MICROMONEY ?
MicroMoney is a team of professionals experienced in working in emerging markets. There are 196 countries in the world, and 100 of those countries represent our target market. Who are our potential clients? They are more than 2 billion of unbanked people, they run cash-only households, have no credit history, have no debts, and widely use smartphones and Facebook. They are the so-called “blue collars” and “white collars”, and SMEs. Their monthly income is around $200-500. This implies a huge amount of new customers and we are here to bring them to the new global crypto economy. In an emerging market, a smartphone can tell us everything we need about its owner, so that we can estimate his/her creditworthiness. No joke, your smartphone knows you much better than even your best friend. So we made an app, which gathers 10,000 parameters. We analyze this Big Data using our AI Neural Network Scoring and this is enough to obtain a loan approval decision in just 15 seconds. Now, to borrow money using our app is as easy as to order an Uber. Of course, we are always improving the system too. We realized that 90% of our customers take the first loan in their life. At the same time, we were overwhelmed by the idea: by providing money to people, we are not just helping to address daily needs. We are helping to create a digital financial identity, to build creditworthiness and reputation and to start their credit history.
THE GLOBAL PROBLEM
As people worldwide lack access to basic financial services, they have limited capacity to overcome poverty and to increase their living standards. That implies a lack of access to both banking services (loans, mortgages, or bank accounts) and access to all other services and opportunities. No credit history means limited access to banking services, which means no loans and, no credit history… However, there is hope to break this vicious circle. There is a large percentage of unbanked individuals in the Asia-Pacific Region, which is now home to more than half of the world’s internet users, 54% of the world’s social media users, and 56% of all mobile social media users. This trend proves that although most Asian people may be unbanked, digital services and innovative solutions have improved people’s lives. And we are here to help bring all those millions of people to the new global crypto economy.
WHAT WE CAN DO ?
Our Mission
- Solving hunger and poverty by providing unbanked people with the access to financial services and a possibility to build their first credit history on a Blockchain.
- Helping unbanked small entrepreneurs grow their businesses by offering them online loans. Enabling banks, financial companies, einstitutions, and retail businesses worldwide to efficiently scale and serve customers, who previously had no access to their services.
- Creating an extensive micro-financing ecosystem by providing our franchise to local partners. Raising financial awareness among our clients by offering consulting services and educational materials.
- Enabling Blockchain companies to efficiently scale their customer base by getting access to our open source Credit Bureau with millions of un(der)served people.
- Bringing financially excluded people to the new global crypto economy.
Building and Open Source Credit Bureau on Blockchain
Loans through smart contracts, transparent and reliable credit history. We must enable businesses to get access to our customers, offering them the best service possible.
Providing Big Data for Businesses
Our products represent a digital financial identity encrypted on the Blockchain and Big Datagathered from borrowers’ smartphones. That Big Data of previously unserved customers becomes really useful for business: people need money and services, while businesses need new customers. As you can see, we started as a company fully focused on micro-financing in the money lending industry, aiming to provide the best solution to individuals and SMEs. But nowadays we are proud to be a Fintech company, working towards the goal of global financial inclusion. Since 2015, MicroMoney has been successfully operating in Cambodia. In 2016, we started in Myanmar and have since decided to expand worldwide. In 2017, MicroMoney established a back office in Thailand for the purpose of reducing operational costs and making further expansion in region: Philippines, Indonesia, Malaysia, Sri Lanka, Singapore, Hong Kong, China.
Expanding Worldwide
While considering scaling our product, we have identified100 most populated countries with billions of unbanked and a huge demand for our main solutions. We took this idea from McDonald's and completely standardized and packed our business processes in our CRM system (BPM`Online). It is now a ready-to-go Franchise Financial
Platform. Hence, expanding to new countries and opening new branches has been dramatically simplified.
How does the MicroMoney Work?
Our History: Two years of hard work
MicroMoney was established as a company focused on micro-financing in the money lending industry. We aim to provide the best solution to individuals and SMEs to meet their financial needs. MicroMoney is successfully operating in Cambodia, Myanmar, and Thailand, where our back office is located.
We provide customers with online loans without any collateral requirements. Clients can get the money by just filling in the application form on our mobile app. Using machine learning algorithms, we can approve a loan in just 15 seconds and are able to deliver the funds in 1 hour. After setting up our branch in Cambodia it took only 3 months to make the business profitable. Founded in 2016, MicroMoney Myanmar is equally showing stable performance growth.
Two years of diligent work have resulted in a unique scoring technology, a wide network of business partners, and stable business growth. As for customer feedback, our Facebook page6 reached more than 500 thousand followers, and our app7 in Google Play has a customer rating of 4.8 out 5
We have more 95,000 registered users, of which 90 percent took out the first loan in their life. About 73% got back to us for a second loan. Currently, our retention statistic show an average of 4.5 social/emergency loans per client.
We help our clients achieve their goals and deal with challenging life circumstances. To accomplish that, MicroMoney has formed a team of technical and business experts. We constantly update our financial products, produce educational content, and expand the business to new markets.
in December 2015, we issued 21 loans, only ~$800 in total. By the end of 2017, our disbursement volume will reach $4.9 million.
Two years of profitable business has proved the robustness of MicroMoney’s existing business model. The behaviour of our customers shows that there’s a high demand for micro-loans among individuals and SMEs who previously didn’t have access to financialservices.
ROADMAP
Token details
What does AMM token represent AMM is a utility token. The token is an integral part of the MicroMoney ecosystem and can be used as an internal payment mean or to get access to MicroMoney’s services. The token model is built so that our clients will want to use it frequently, thereby creating higher demand for the token.
Symbol AMM
Total supply (Token distribution) 60,000,000
Plan to raise $ 15,000,000
Hard cap $ 30,000,000
Adjustable 100% pre-mined. Any unsold tokens during the Token
distribution will be burned.
Token type ERC20
Can be sold before No, all tokens can be sold only after Token distribution finished.
Token distribution finished
Initial price 1AMM=1USD
MORE INFORMATION :
Website : https://www.micromoney.io/
Facebook : https://web.facebook.com/micromoneymyanmar/
Medium : https://medium.com/@micromoney.io
My Bitcointalk Profile Link : https://bitcointalk.org/index.php?action=profile;u=1210304
My ETH Address : 0x14cC709Dd926e3384E6fC4b6E2b13c9570B3796a
My ETH Address : 0x14cC709Dd926e3384E6fC4b6E2b13c9570B3796a
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