Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Companies

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors

Wish Finance Launches Blockchain and Artificial Intelligence Based Lending Platform for SMEs

10/11/2017 | 09:41am EST

SINGAPORE, SINGAPORE / ACCESSWIRE / October 11, 2017 / Wish Finance is an innovative cutting-edge technology start-up that aims to offer new alternatives to the traditional lending industry. The project extends the lending market from the popular P2P to SME (small and medium-sized enterprises) sector, offering a valuable solution to borrowers who find the extreme annual percentage rates (APR) of traditional banks unacceptable or simply unattainable. Standard financial institutions typically do not work with regular SMEs, due to poor liquidity and a lack of assets. Without available collateral, banks will not support any requested loans. Wish Finance decided to create a solution to this problem using new technologies:

  • Wish Finance is the first lender to use blockchain innovations. Integration with the Ethereum and Tendermint platforms will make Wish Finance fully transparent to government agencies, borrowers, current shareholders, and potential investors.
  • Diversified lending pools built on the decentralized ledger, with lenders providing funds to a large number of borrowers, mitigate investment risks.

Wish Finance offers a reliable short-term position with its auditing process. Rather than focusing on strictly available assets, it instead targets an SME's real cash flow, using an up-to-date big-data analytical mechanism to analyze the company's financial information, and thus credibility. Direct access and integration to the SME's POS transactions is designed to simplify scoring and create a straightforward repayment process.

Eugene Green, the startup's CEO, describes the advantages of this approach saying, "Wish Finance offers cash advances and business loans for SMEs with fair interest rates based on the company's real cash flow, not its assets. We have direct access to POS terminal infrastructure so we can view real-time financial transactions, deducting 2-5% of merchant customer's payments to automatically repay the loan."

By using cutting-edge technologies to process hundreds of applications at a time, as well as real-time transaction data, automatic repayments from POS transactions, a transparent portfolio on the blockchain and fully insured loans, the company will minimise the potential risks for borrowers and investors.

Aside from these innovations, Wish Finance is the first company to launch a unique Initial Coin Offering (ICO) with digital tokens that are convertible to real assets, company shares. "WISH" tokens, which are the foundation of the company, are smart contracts executed on the Ethereum platform and can be converted to shares in the Wish Finance company at any time. The company's ICO will launch in October.

www.wishfinance.com
Telegram: https://t.me/wishfinance
For Media Inquiries:
media@wishfinance.com
Ekaterina Dzhe

SOURCE: Wish Finance


© Accesswire 2017
Latest news "Companies"
05:55pMinerco Introduces Sean Kingston as the Company's Newest Ambassador
NE
05:42pNISSAN MOTOR : e.dams scores points in first two races of new Formula E season
PU
05:14pMANCHESTER UNITED : A 20th straight win for Man City, VAR anguish for Brighton
AQ
05:08pJUVENTUS FOOTBALL CLUB : Ronaldo scores but Juventus held 1-1 at Hellas Verona
AQ
04:50pDAIMLER : Tough day for Mercedes-EQ Formula E Team
PU
04:41pWARREN BUFFETT'S $10 BILLION MISTAKE : Precision Castparts
RE
04:18pCINEMARK : Investor Presentation - Q4 2020
PU
04:03pAPPLE : Warren Buffett again encourages investors to bet on America
AQ
04:01pWALMART : ROSEN, A TOP RANKED LAW FIRM, Encourages Walmart Inc. Investors with Large Losses to Secure Counsel Before Important March 22 Deadline - WMT
PR
03:53pAPPLE : Stock gains power higher Berkshire profit, Buffett presses on with stock buybacks
RE
Latest news "Companies"