APAC CIO Outlook
  • Home
  • CXO Insights
  • CIO Views
  • News
  • Conferences
  • Newsletter
  • Whitepapers
  • About us
Apac
  • Admired Tech

    Agile

    AI Healthcare

    Artificial Intelligence

    Augmented Reality

    Aviation

    Big Data

    Blockchain

    Cloud

    Cryptocurrency

    Cyber Security

    Digital Transformation

    Drone

    HPC

    Infrared

    Internet of Things

    Networking

    PropTech

    Remote Work

    Scheduling Software

    Simulation

    Startup

    Storage

    Wireless

  • Banking

    E-Commerce

    Education

    FinTech

    Food and Beverages

    Healthcare

    Insurance

    Legal

    Manufacturing

    Pharma and Life Science

    Retail

    Travel and Hospitality

  • Atlassian

    CISCO

    Microsoft

    Oracle

    Salesforce

    SAP

    ServiceNow

  • Business Intelligence

    CEM

    Cloud-based Planning

    Cognitive

    Compliance

    Contact Center

    Contact Tracing

    Contactless Payments

    Content Management System

    Corporate Finance

    CRM

    Custom Software Development

    Data Center

    Enterprise Architecture

    Enterprise Communications

    Enterprise Contract Management

    ERP

    Field Service

    HR Technology

    IT Service Management

    Managed Services

    Procurement

    Product Management

    RegTech

    Revenue Management

    Sales Tech

Menu
    • FinTech
    • Augmented Reality
    • Agile
    • Cognitive
    • Cyber Security
    • Digital Transformation
    • Atlassian
    • E-Commerce
    • Managed Services
    • RegTech
    • CISCO
    • Blockchain
    • IoT
    • MORE
    #

    Apac CIO Outlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIO Outlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    • Home
    • FinTech
    • Vendor
    • Minterest
    Previous
    Next

    Minterest: Marketplace Financing for Underserved Businesses

    Charis Liau,Co-Founder & CEO, MinterestCharis Liau, Co-Founder & CEO


    Tired of your bank saying no to you? Whether it is for business expansion or working capital requirements, small & medium sized companies (“SMEs”) face challenges in bridging the financing gap. Fortunately, there is a great way for these companies to raise funds effectively to meet their business needs. “However, not many companies are aware of marketplace funding,” begins Charis Liau, co-founder and CEO of Minterest. The majority of SMEs today are still struggling to access finance effectively. The key obstacles are the “one size fits all” and “no-go industry sectors” approaches taken by traditional finance providers as well as lack of financial track record of SMEs. These barriers have resulted in the emergence of a huge credit gap–banks, with high cost structures and strict regulatory compliance requirements, are unable to serve the needs of these corporate effectively. Driven by the zeal to empower both borrowers and investors, Singapore-based Minterest has built a user friendly online funding platform with a proprietary workflow and credit scoring algorithm (“MintGrade”) enabling the quick and efficient processing of loan requests. “Our ultimate aim is to fill the credit gap by on-boarding the creditworthy borrowers and providing investors with well-structured, risk-mitigated investments,” enthused Charis.

    Minterest along with four members of the Singapore FinTech Association founded a marketplace lending sub-committee with a vision to create industry standards and spread awareness about marketplace financing through education and publicity.

    Having more than 155 years of experience in the financial industry, Minterest’s team works with borrowers to understand their financing requirements and then structures a feasible funding request, which enables borrowers to borrow and investors to invest at a pricing that is appropriate with the level of risk. Utilising the company’s workflow and MintGrade, a funding request could be completed in a matter of days.

    The experience of the team allows Minterest to provide a variety of financing solutions to its borrowers. These are divided into four broad categories: (i) working capital loans that allow borrowers to borrow for business expansion, finance a purchase order or project, (ii) invoice financing allowing borrowers to recycle their cash flow effectively, (iii) structured loans where structural elements are incorporated into the facilities e.g. insurance cover or physical assets as collateral, and (iv) convertible loans where quasi-equity raising is more appropriate for the borrowers enabling them to fuel their growth without the pressure of making scheduled debt payments. “We are also breaking new ground by introducing psychographic tests which will add a new dimension to our credit assessment. The psychographic test enables us to determine the “willingness” of the borrower and/or the promoters in repaying a debt,” adds Charis.

    To better highlight Minterest’s value proposition, Charis cites the case of Banama Corporation Pte Ltd, a Singapore company with Indonesia-based operations serving the coal mining industry. Banama was not spared by the difficulties facing the coal mining industry and this led to the company recording significant losses. Equity was negatively affected leaving Banama without any access to financing from banks and had to rely on support from family and friends. Minterest’s partnership and unique approach to structuring a series of loans for Banama enabled it to raise financing with progressively lower financing costs as it built a track record with investors on the Minterest platform. “Subsequent loan requests were participated quickly, the last one being fully taken up in 13 minutes,” extols Charis.

    The company also intends to integrate blockchain into their investment process to provide a powerful audit trail and recording capability that will enable users to reduce errors and protect data from being tampered. “With a robust technology suite and depth of our financial expertise, we are dedicated to stirring a change in the fintech space and assisting our SMEs which are the workhorses of the region’s economy,” ends Charis.
    Previous
    Next
    Share this Article: Tweet
    ON THE DECK

    Compliance 2021

    Top Vendors

    IT Service Management 2021

    Top Vendors

    Previous Next

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    CIO Speaks

    • IT Service Delivery Models Evolving with Business

      Todd Larson, CIO, Sentinel Benefits & Financial Group

      E-Mortgage, The Next Big Thing is already here: Make it Bigger

      Nafees Ahmed, CIO, Indiabulls

      Technology and Business Conscience Collision

      Winston Benedict, CIO, Dentsu Aegis Network ANZ

      eMortgage, The Next Big Thing is Already Here: Make it Bigger

      Nafees Ahmed, CIO, Indiabulls

      The Right Technology And Reliable Partners; The Business Next Frontier

      Luke O'Brien, CIO, ISS Facility Services Australia & New Zealand

      Service Organisations Make Great Places To Work, And Deliver Better Value

      Matthew Perry, CIO, Orora Limited [ASX: ORA]

    • How Have Recent Advancements in Big Data Been Impacting Businesses?

      Marc Solomon, CIO, Bvn Architecture

      BI & Analytics in Aquaculture

      Matthew Leary, CIO, Tassal Operations

      BI and Analytics

      Gary Peel, CIO, SYNERGY (ASX:IS3)

      A Blend of Six Technologies to Enhance Teaching-Learning Processes

      John Hui, CIO, The Education University of Hong Kong

      Creating Integrated Workflows for an Evolving Company

      Mike Everly, CIO, D&H Distributing

      Modern Software Development Methodologies

      Kevin Glynn, VP and CIO, DSC Logistics

    Copyright © 2021 APAC CIOoutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy and Anti Spam Policy 

    |  Sitemap |  Subscribe

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://fintech.apacciooutlook.com/vendor/minterest-marketplace-financing-for-underserved-businesses-cid-3470-mid-176.html