Place/Date: Mahe, Seychelles - October 10th, 2017 at 6:32 am UTC · 4 min read
Contact: Denis Kabanets, Source: Inspeer
Inspeer, one of the few players to recognize the need for revolutionary technology in the financial services industry has opted to introduce additional utilities backed by cryptocurrencies and their underlying blockchain technology. The platform, designed to use cryptocurrency alongside fiat currency for the purpose of peer to peer lending has announced the launch of its upcoming crowdsale campaign.
With the rapid advancement of blockchain technology and a fundamental shift away from traditional lenders being the dominant intermediary in the lending industry, peer to peer lending is gaining momentum as the next evolution in the financial services sector. Inspeer has established expertise in creating online financial services within the lending sector for 3 million users in Russia. With their primary operations located in Russia under the LightFin.ru brand, more than 200,000 loans applications were processed within the first year of platform deployment.
Traditional lending institutions maintain stringent regulatory and loan approval requirements. Consequently, a large portion of the world’s population does not have access to lending services. Immigrants, those without a mandatory minimum credit history, and small businesses within emerging markets are locked out of the traditional financial system. It has resulted in an increasing demand for peer-to-peer lending services.
LightFin provides customers with short-term online loans while also reducing loan approval time to a mere 1.5 minutes. Inspeer uses a high-quality and robust scoring system to provide a safe, transparent, and reliable lending solution for individuals and small businesses. Based on the success within Russia, Inspeer is scaling their peer to peer platform to reach a worldwide user base.
Inspeer’s Unique Technology
Inspeer’s platform uses loan pipelines and scoring algorithms which consist of the InsCore system and OLAF algorithms. Together, these two components help to effectively execute an assessment of the borrower’s likelihood of repayment as based on more than 20,000 predictors. Additionally, Inspeer’s technology is able to identify fraudsters at the earliest stages of the loan application. Indeed, the predictive algorithm can detect fraud before a loan application is sent.
Inspeer is proud to announce the ICO launch and attract investors who share a similar vision regarding this newest evolution within the cryptocurrency and blockchain technology market.
It is a rare chance that the lending industry is getting shaken, it is no longer the banks who monopolize the market. It is going to be a way fairer game for all parties. – Denis Kabanets, CEO & founder
ICO will start on Nov 6 and continue for Dec 6.
Inspeer is the first customized and decentralized token designed by crypto lending professionals. There is a total supply of 50Mln INSP tokens and available for sale at $1.00 per INSP. For more details visit inspeer.io. Inspeer encourages interested investors to purchase tokens in advance and offers up to a 15% of bonus for investors during the first two weeks of ICO.
Inspeer is seeking market expansion within Estonia, Latvia, Spain, UK and more. The essential goal is to create a large, peer to peer financial institution that uses machine learning to solve the prohibitive lending issues within traditional financial organizations. With this in mind, Inspeer directly addresses the needs of the 21st century financial services consumer.
Inspeer is led by a group of professionals who are experts in online microlending, peer to peer lending, and traditional bank lending. CFO Nikolay Otvechalin is skilled in the development of business plans, financial models, and leadership management for capital investment projects at all stages. CTO Denis Ryabikin has been developing projects for a wide variety of microfinance organisations which vary in scope and complexity. CEO and founder Denis Kabanets is a serial entrepreneur with a copious amount of experience in executive management.
The advisory team will work closely together with Inspeer’s core team to ensure smooth operations and maximal outputs.
Ambisafe is Inspeer’s technological advisor for this implementation. Oleksii Matiiasevych, EDCC architect at Ambisafe worked together with White Hat Group to return the hacked cryptocurrencies to their owners. On July 19, 2017, Oleksii followed up a critical vulnerability during the Parity Ethereum wallet Attack and together with the White Hat Group, he ended up saving $1,4 Mln worth of Ethers from the compromised wallets.
Our goal is to make lending readily available for those who need liquidity and have the ability to repay. This is achieved by simplifying the process and enhancing both scoring and predictive accuracy. Conventional lending is outdated and the banks are losing their competitive advantage within the lending market. Innovative technology companies now have the opportunity to capture as much market share as possible. Everyone is fighting to be ahead in the market but I know Inspeer is well prepared. – Nikolay Otvechalin, CFO