MicroMoney For People BigData For Business
What Is MicroMoney?
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.
MicroMoney as a Solution For Financial Problem
MicroMoney is an Open Source Credit & Big Data Bureau that connects new customers to all existing financial services. MicroMoney A.I. platform uses complex algorithms to predict creditworthiness of all customers and in just 15 minutes a borrower can get their very first loan in his/her life just from their smartphone. All customers have an ability to pay less interest and have a higher credit rating, if they use our platform more often . All aggregated Big Data and Credit Histories are stored on the Blockchain. Thousands of existing businesses will get access to millions of new customers which we will bring to the global economy.
How Does MicroMoney 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 page 6 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 financial
services.
- 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 Token distribution finished : No, all tokens can be sold only after Token distribution finished.
- Initial price : 1AMM=1USD
Overview of Tokens
The Tokens are based on the Ethereum protocol and conform to the widely-used ERC20 standard. The utility of the Tokens may probably be enhanced over time to the extent that more Drive
Farming and Bandwidth Farming resources are added to the Network, such that the amount of storage
that can be obtained for each Token will grow. Company will not support or otherwise facilitate any
secondary trading or external valuation of Tokens.
AMM token has a lot of features within the MicroMoney’s financing platform:
- Premium access : AMM ownership will give access to advanced platform’s features, such as instant loan application approval on demand.
- Global Credit Scoring : The more AMM you have, the better is your credit rating in Micromoney ecosystem. A person or a SME customer after each payback of loan will be awarded with AMM token. All members of Micromoney ecosystem can accumulate AMM tokens to improve their credit score and it will work in part of the world.
- Encouragement and rewards : Firstly, borrowers in Micromoney are rewarded with a AMM bonus for paying back their loans in time while delays cause the AMM number reducing depending on the overdue time. Secondly, if a borrower has persons vouching for him or her and all the payments made in time, the co-signers will receive the AMM token reward as well.
- A collateral : AMM can be used as a collateral to secure a loan application allowing customers to achieve the lower rates and the other possible privileges and discounts.
- Getting free access to Customers data : Customers of our database Bureau - Banks, Financial and Insurance companies, e-commerce, retail, telecom - should have minimum balance of AMM tokens to get limited free access to depersonalized customers’ data.
- Getting payable access to Customers big data & credit histories : Banks, Financial and Insurance companies, e-commerce, retail, telecom - should use tokens to pay for accessing personalized information in Big Data & Credit Histories Bureau.
- Getting payable access to Decentralized A.I. Neural Network Scoring system : Banks, Financial and Insurance companies, e-commerce, retail, telecom - should use tokens to pay for accessing Decentralized A.I. Neural Network Scoring system [1}
- Award for Micromoney customers who agreed to share their Private Information : The depersonalized data is completely open. Personalized data is paid. Businesses can pay for data by using AMM token. If there is a request for paid data, thanks to a smart contracts, 50% of the net profit from the request goes to developing Micromoney ecosystem, 50% of the net profit goes to our borrower/customer who agreed to share his/her Private Information. Only WIN-WIN! We respect all our customers and they private information.
- The right to any contribution to the system to support Sustainable Development Goals by United Nations: No Poverty, Zero Hunger, Quality Education, Gender Equality, Decent Work and Economic Growth, Reducing Inequalities.
Bounties
Let's participate in introducing micromoney, we will get 4 - 36% from total reserved AMM. Here are the conditions for each participation that we follow :
MicroMoney Privacy Policy
This Privacy Policy explains the ways in which MicroMoney uses personal and other
types of information we receive when you visit our website MicroMoney.io. This policy
does not apply to the practices of companies not owned or controlled by MicroMoney
or to people whom MicroMoney does not employ or manage. If you do not agree with
our practices, please do not use our Site and the Services. Your access and use of the
Site and Services is also subject to the Terms of Use. All terms not defined here are
defined in the Terms of Use.
Types of Information MicroMoney collect:
- Personal Information : We collect personal information you provide us when creating an account use it to conduct client scoring. More details on the use of personal data by MicroMoney is written in the section Scoring App Powered by Artificial Neural Network in White Paper.
- Aggregate and Anonymous Data: Aggregate and anonymous data is information does not identify you specifically, including data collected automatically when you enter our Site (“Non-Personal Data”). It may include cookies, pixel tags, web beacons, browser analysis tools and web server logs. It also includes information from the devices you use to access our Site or mobile platform, your operating system type or mobile device model, browser type, domain and other system settings, as well as the language of your system and the country and time zone of your device. Our server logs may also record the IP addresses of the devices you use to interact with the Site. We may also collect information about the website you had visited before you browsed our Site and any website you visit after leaving our Site, if this information is supplied to us by your browser. We may also use software tools, such as Javascript, to measure and collect session information, including page response times, download errors, and methods used to browse away from the page. Non-Personal Data also includes some data collected by location services. We use Personal Information and Non-Personal Data to perform user analytics, provide customer support or compliance with the law.
- When and Why We Disclose Personal Information and Non-Personal Data Except as provided herein, we will not display on the Site, or otherwise disclose your personal information to any third parties unless it is necessary to provide the Services, when required by law, or if we have a good faith belief that such action is reasonably necessary to:
- comply with the current judicial proceedings, court order or legal process served on us;
- protect our rights, property and interests, as well as by enforcing our agreements, policies and the Terms of Use;
- respond to claims that any submitted content violates the rights of third parties;
- respond to your customer service requests;
- protect the rights, property or personal safety of MicroMoney, its members and the public;
- in connection with, or during negotiations of, any merger, sale of company assets, financing or acquisition of all or a portion of our business by another company;
- with your consent to share the information. - Your Choices : You can opt-out of receiving our emails by following the unsubscribe instructions included in each such email or by contacting us in social media. You can modify or delete your personal information. We will retain your information only for as long as needed to provide you the services or as long as necessary to comply with our legal obligations, resolve disputes and enforce our agreements.
- Security of Personal Information : We employ generally accepted industry standards to protect your personal information and we continuously strive to protect your information and privacy as much as we can.
- Modifications : We may occasionally modify the Privacy Policy. All changes take effect upon posting on the Site.
- Questions about Our Privacy Policy : If you have any questions or concerns regarding this Privacy Policy, you may contact us by e-mail or social media.
To find out more about privacy police you can click this link https://www.micromoney.io/Privacy_policy.pdf
For More Information Please Visit The Link Below :
- Website : https://micromoney.io/
- Whitepaper : https://www.micromoney.io/MicroMoney_whitepaper_ENG.pdf
- Twitter : https://twitter.com/micromoneyio
- Facebook : https://web.facebook.com/micromoneymyanmar/?_rdc=1&_rdr
- Telegram : https://t.me/micromoneyico
- Terms Of Token Distribution : https://www.micromoney.io/Terms_of_token_distribution.pdf
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