I saw the plan of Micro Money in next 2 - 3 years, and I amaze because they choose Asia in 2018. This gonna be a good challenge to them before they go to America and Europe.
yes and i saw that they are ready to open the phillipine branch.with the help of BPI,BDO and metrobank in the philippines based on their businessplan https://www.micromoney.io/MicroMoney_whitepaper_ENG.pdf
Those banks are have a good reputation in the country of Philippines, this is a good spot for Micro Money. No wonder MM has a bright future in Lending Business.
is this true? If they will be venturing here, well i believe it will be a very good thing. This might disrupt the lending businesses here and put an end to those filipino capitalist who doesnt deliver good services.
yes it is true.
based on my research, micromoney is not the first in the philippines who caters micro financing but as always, document and other credentials are needed to loan quick.
the competitors are : BPI Banko, Smart telcoms Mbank, 2go's pawnhero, microbank, cashnow and lenddo.
but the good thing is MM is the first to use blockchain technology to give an instant loan to those in need. but the question now is how?
Micromoney create an app that gathers 10,000 parameters. analyze big data using AI neural network scoring and this is enough to obtain approval decision is just 15 seconds.
that is the edge of MM to other competitors plus the credit history of the borrower is ready because it is digital. isnt it great?
your explaination is clear and i do understand now how does micromoney approve loans in just 15 seconds. but the problem now since the target market of micromoney is the class D sector does the app will be available only to be downloaded or there are MM offices to cater and assist the applicants to grant loans?
i do remember that the philippines is has slow internet connections, do the internet in the philippines is stable enough to hold the app?
