Bank Mandarin, a large financial institution, has expressed support for 7Seconds' solution.
"We are glad to express our interest in the solution offered by the credit scoring platform 7Seconds," said Mandarin's CEO Maxim Nekrylov. "The share of POS loans in lenders' portfolios is on the rise, and attracting more customers for this kind of loans is important."
According to Nekrylov, the introduction of blockchain into 7Seconds platform will certainly take the solution to a new level.
"Currently, lenders spend substantial funds on credit reports and scoring information regardless of whether they will eventually issue a loan to a specific borrower," he explained. "With 7Seconds' blockchain solution, lenders will only pay for data on the borrower to whom they issue a loan. This will lead to reducing costs and, in turn, to lower interest rates lenders will be able to offer to borrowers."
Bank Mandarin is a digital platform that integrates banks and other financial companies, offering a convenient payment service to its customers. Mandarin also provide an installment payment service.
