Singapore: Blockchain Lending Services Karma and MicroMoney Announce Strategic P...
Singapore, October, 06 2017 -
According to the agreement, Karma now can use MicroMoney’s unique scoring system based on AI algorithms and neural networks to assess any of its customers. Also, Karma will share information about its users’ social rating with MicroMoney, which will enhance MicroMoney’s scoring database with more detailed data and help assess customer creditworthiness more accurately.
Blockchain lending services providers MicroMoney and Karma announced their strategic partnership today. MicroMoney, a global fintech company and a market pioneer blockchain credit bureau, and Karma, a global transcend p2p-scoring blockchain platform, have signed an agreement allowing them both to receive benefits from user networks and technologies.
According to the agreement, Karma now can use MicroMoney’s unique scoring system based on AI algorithms and neural networks to assess any of its customers. Also, Karma will share information about its users’ social rating with MicroMoney, which will enhance MicroMoney’s scoring database with more detailed data and help assess customer creditworthiness more accurately. In the upcoming months, partners intend to build a data and technologies exchange.
MicroMoney, with its mission of financial inclusion for over 2 billion of unbanked and underbanked people into the global financial system, and Karma, which intends to create a global community with high level of mutual trust, are now able to work together to implement their vision and become mutually beneficial. Both companies are currently engaged in token distribution campaigns to speed up expansion into the emerging markets.
“I have met the MicroMoney team and they are ready for the joint project. Their scoring methods are based on how people interact with their smartphones, and a mobile phone is a useful tool to enrich our set of scoring parameters. The social services that MicroMoney provides now are critical for emerging markets where the majority of people are still unbanked and credit bureaus have no people with valid credit histories. Now investors who are involved in the Karma project worldwide can get quality assessment of borrowers’ creditworthiness in several Asian countries. We believe it is an important step to increase the level of trust between different cultures,” said George Goognin, the founder of Karma platform.
“We are happy to start the partnership with Karma as we share the same vision and the same mission to help billions of people to be financially included. MicroMoney has its unique scoring tool that allows to manage risks and assess creditworthiness in the countries where 90 percent of people never applied for any bank services. It is important for us to provide them with green and transparent social loans,” said Anton Dzyatkovsky, co-founder of MicroMoney.
The companies are going to fulfill their missions to provide access to extra funding for billions of people in Asia, Latin America, and Africa and to improve their quality of life.