Describe the company – the elevator pitch…
7Seconds is an existing fintech company, a marketplace for POS loans based on AI scoring. Now we are developing a blockchain platform for banks, which allows banks not to pay for scoring customers to whom they will not issue a loan. Under the existing system, all banks that have received a loan application, have to score a potential borrower. The lenders pay for credit information on the same applicant, who then chooses just one of them. The remaining lenders have wasted money and thus pass their costs on to customers by raising interest rates. So, we are building a decentralized unified data input protocol that is transparent, protected, and available to each lender in our ecosystem. Lenders will only have to pay for credit information on a customer to whom they issue a loan.
How are you different?
We have an already operable fintech business, good connections with banks and retailers and now we are developing a blockchain solution needed by banks. Thanks to blockchain technology, 7Seconds will make sure lenders get equal and immutable information, which will allow them to save significantly on credit scoring and, therefore, to lower their interest rates on loans.
This week, 7Seconds founders @alchalenko and @anantolycherne1 had consultations on blockchain with @ChristopheOzcan, a renowned blockchain speaker CEO and co-founder of @Crypto4All , an engineering and consulting company specializing in DLT technology. pic.twitter.com/9xYIZ65e9t
— 7Seconds (@7Seconds_io) August 3, 2018
Why will you do well?
Our innovative fintech service increases competition among lenders, which makes loans cheaper, thus raising the population’s purchasing power and improving people’s living standards.
Where are you based?
When was the company launched?
7Seconds Company was established in 2016.
What have been your biggest wins to date?
The launch of a credit platform in partnership with more than 10 banks and several major retail chains.
7Seconds’ advisor Kamlesh Kangya discusses the blockchain element in 7Seconds’ solution and the company’s prospects in the Asian marketshttps://t.co/eZPbAE2nQk
— 7Seconds (@7Seconds_io) August 6, 2018
Who are you trying to attract to your product?
We are primarily targeting banks and other financial institutions involved in POS lending.
Tell us about your team?
Our team consists of professionals in bank industry. Our CEO and partners have a huge experience in bank, retail and lending industry.
What are your plans for the future?
We plan to become one of the world’s top 3 POS lending platforms.
What are your favorite tech gadgets?
Our favorite gadgets are mobile phones and PCs.
What tech gadgets do you wish you could use to help you?
We wish we could use customers’ mobile phones to make things easier.
How do people get in touch with you?
We are open for any communication channels, such as social media, e-mails, phone talks and personal meetings.