AI Bank – A Global Platform For Access To It Can Be Obtained By Anyone With Access To The Internet
AI Bank – Modern system of relations in the banking sector are designed to make a profit, not to meet customer needs, and leave much to be desired. Banks often work only as an accumulator of money, while they can not always provide the population with the same money. A bank itself is on top of all the institutions of a financial nature that should work for the benefit of investors, namely, attract a larger percentage of the funds raised may be a. In this case, people come to the bank for the money if the bank issues the necessary assumptions and interests. There are also restrictions on the number of banking products available to individuals. The average bank can have up to 20 different products, hundreds of cards, but they all operate in the same system, which was built by the Central Bank. And an opportunity for residents to borrow money easily, efficiently, with maximum ease and transparent rates just are not there. We present a project which allows one to realize the opportunity to withdraw the funds and ensure their own well-being, the ecosystem itself at the interface of technology and traditional financial institutions.
We offer a unique solution in the field of financial technology. The market is growing most in the world is the direct lending market. However, in general, market restrictions continue to be observed, and they are often constrained by regulations by the central banks of the countries in which the microcredit process takes place. In general, the market for issuing these loans involve high turnover funds and a very large degree of non-payment by major delays in payment. This leads to the fact that it is possible to issue a loan to the client only on the interest rate of over 100% per year. This, in turn, cut the traditional bank of possibilities injects funds into MFIs to reduce the interest rate.
Because the assessment system can not work very quickly and make decisions for each client, there is a need for a large number of personnel hired, the introduction of simplified scoring procedures as well as increased interest rates in order to attract potential investments. Of course, the company has a working scheme is completely opaque. The proposed project removes restrictions on a scoring system because the system itself evaluates potential borrowers are positive or negative on the basis of artificial intelligence (hereinafter – AI), which allows then to plan an interest rate below the market rate and does not depend on a central bank rate. Since the loan is done directly, it is possible to attract investors from any country.
As the application of AI technology will reduce the need for staff to a minimum and concretize offers for the client to a personal level. The proposed project is working on a technology bank blockchain and AI systems use independent scoring assessment. The proposed project is a unique, high-tech bank in the world that make up a solution using AI self-learning. We are committed to issuing the loan at the lowest interest rate in the world. We see that the future comes in a high technology field and only application of advanced experience in the field of financial and technical to ensure the implementation of all our plans. The bank itself is an information platform that integrates with credit platform and AI system, which assesses the borrower, generally mitigates the risk and make predictions about how far it is possible to set the interest rate for using credit funds. The current implementation allows not depend on the type of currency, legislative and regional regulatory restrictions. The project can use any currency, including cryptocurrency. It can be applied to cross-rate and can be transferred to the customer’s account with the best exchange rate. Clients can choose their own results.
A possible transfer will be expressed by any means – to a bank account, credit card or debit card, as well as the wallet cryptocurrency. P2P payment bank transfer and credit or debit card will be done through partner banks, which will become one and will be selected by a scale according to the Bank’s asset growth AI.
Approximately 200 million people worldwide currently clients of microfinance organizations, and according to various estimates, the market size is USD 60 to 100 billion. In 2018, analysts expect an increase of responsibility MFIs in the international market by 15-20%, with Asian countries that provide the major share of growth.
According to the study MICROFINANCE Barometer 2018, 2015, financial institutions non-bank working with 43% of borrowers worldwide, while among banks this figure was 26%, and among organizations, non-profit – 27%. At the same time, the average size of a bank loan of USD 1,576, loans from non-banking financial institutions – USD 766, loans from non-profit organizations – USD 334. It is also worth noting that the 100 largest microfinance organization works with 78% of the total number of borrowers.
It should be noted that in 2017 compared to 2015, between the regions of the world, the largest increase in the number of borrowers from MFIs was shown by the countries of the Asia-Pacific region – + 16.6%. Good growth is shown by the countries of Eastern Europe, Caucasus and Central Asia – + 12.5% and + 11.2% respectively. The smallest increase was recorded borrower microfinance institutions in Latin America and the Caribbean – only 2.3%.
Global Problems And Solutions
- Limited Fundraising
All MFIs suffer from the fact that they can not raise a lot of money. At the same time, the administration and short-term loans that are not attractive to banks because microfinance in the traditional mode requires a lot of offices and a perfect assessment system. Thus, the growth of the client base is very limited. The proposed project solves this problem by bringing AI to the Bank’s microfinance market, which does not require an expensive office, many of the staff, the cost of legalizing certain financial activities in the country and provide a scoring system based on AI.
- Scoring System
In order to evaluate the client, need to download all the data on them into the system. This, in turn, limits the accuracy, speed, and elasticity assign credit ratings. In the proposed project, the assessment system is based on an automated process and immediately perform all the necessary procedures with high accuracy.
In developed markets, it is minimal. In countries in transition and developing countries, is high. To withdraw funds in MFI loans to the turnover, the interest rate for investors to be higher than in bank deposits. Thus, the issuance of loans to MFIs only possible at very high-interest rates. The rate of interest in the proposed project is set automatically and thus influence the central bank’s problem is completely gone. The proposed project is fully competitive and has no competitors.
- The Risk Of Non-repayment Of The Loan
This risk is based on the non-return of funds from clients. The basis of this risk is the lack of verification of documents or the lack of detection of AI in fraudulent transactions with the bank. Average statistics of non-repayment of the loan is 10%. AI Bank offers self-learning AI will be able to reduce the percentage of non-return continuously when analyzing digital data of non-return. With successful analysis, the risk of non-return is reduced to 2%. Collaborate with pay fraud database, the AI will skip Bank loan request, but after rejecting a loan, all the digital information about the scammer will be stored in the database to improve the AI. Blacklist, including customers who ultimately refused to back the loan, the public and collectors will be able to redeem each of these loans. When asking for a loan, all the conditions will be set out in the agreement between the bank and the client without exception, which will need to be confirmed by the borrower. Thus, one of the main tasks of AI Bank not only to reduce the percentage of non-return to a minimum but to do so continuously throughout the operation.
- International Law
Client registration system state law may prohibit such activities. Basis risk is the imperfection of international law and national legal systems. counteraction of risk is the registration of AI Bank in the neutral zone and offshore areas under the law.
- Bank Secrecy
Bank secrecy is information that is protected by credit institutions on transactions, accounts, and deposit clients and correspondents, as well as other information that can be used to identify the client and the correspondent of credit institutions. AI Bank will use the most powerful cryptographic algorithms to maintain bank secrecy.
The Mission Of Our Products
No matter where the jurisdiction of the client is located. All processes are fully automated. A bank can receive and spend money in the currency of the world and the main cryptocurrencies. Restrictions on bank rate or monetary policy of regional banks completely disappeared. There is no limit on how often a bank can send money overseas or highly dependent on the possible formation of resistance currency. Sanctions, political decisions – all this becomes secondary.
- Bank Interest Rates
All prices constant bank. On the one hand, it will be easier because it allows you to maintain profitability at the same level. However, taking into account the level of regulation and circulation of money by the central bank, there is no certainty that the level will not be raised sharply. This directly affects the scale of business and public access to both credit and deposit sources. In the proposed project, interest rates and profitability depends primarily on product ecosystem. The rate will be equal to that value, which on one hand will allow improving the bank’s financial assets (increase the loan amount) and on the other – ensuring the minimum interest on funds borrowed. And given that the interest in the project would be enormous and the rate will be minimal – it would accelerate the growth of the turnover of funds and as a result, improve results.
- Provide Funds
Because the assessment system will be based on AI, the user would be identical to the banking conditions. This, in turn, will allow withdrawing funds in the amount previously inaccessible to traditional MFIs. That is, we offer the opportunity for banks to use the financial resources are almost limitless. At the same time, the risk of non-return will be reduced from 50% of the MFI’s risk for a 10% risk of a traditional bank, which already will allow reducing interest rates.
Traditional loans issued in 1-2 to 2-3 document applications. Not to mention the time and cost of document storage administration. Recent studies have claimed that AI was able to judge the people better than the people themselves do. Therefore, verification of documents into a formality. It is far more important to evaluate someone. AI will analyze more than 300 digital factors. AI system is completely autonomous in the decision-making process, the person does not participate in it, and is not essential to provide any documents to receive a loan. This will allow all decisions to be made immediately.
The credit market will certainly grow and project demand and growth experience. This, in turn, will lead to lay a foundation for growth and development as soon as possible. We’ve put the growth potential and the possibility of scaling up the business. Because it will be fully automated, there will be no additional cost to rebuild the business model.
In order to solve the many problems with the microlending market today, AI Bank offers its own ecosystem that is not guided by commercial interests but is designed to provide a complete alternative to the global financial system. AI Bank, like another blockchain system, directly linking supply and demand without the need for intermediaries.
An internal system that operates according to certain rules, restrictions, and norms.
External ecosystem supported by layers such as:
Income from financial activities of the Bank will continue to increase the assets in order to increase the number and value of loans in the future.
Resistance to external force through decentralization. Without departments, staff, and attachment to the material world, the system will interact with outside influences. With the help of dynamic web landing, apply to be possible from any device and from any country.
Machine faster and more accurately than humans. Because of coherent algorithms, every decision in AI Bank system created in real time.
On-chain transactions are recorded in the public registry will take place in the system. Data that is not banking secrecy will be opened to see but kept using cryptography.
AI Bank is a global platform for access to it can be obtained by anyone with access to the Internet. During the first two months, after the launch of the platform, the Bank will calibrate AI algorithms in the region of one of the advanced countries in the field of microcrediting to accept loan applications as possible in the shortest possible time. countries such as Spain, the Czech Republic, Poland, Mexico, Italy is being considered. After that, our products will be available to all countries in the world. A feature that will affect the scale will be a concentration on the dynamic web landing to accept the application, and not on applications for mobile devices. The number of possible micro-loans is determined relative to financial assets AI Bank, which will continue to increase due to the functioning of ecosystems. The main task of teaching the AI Bank AI with micro-level issue loans to 95-99% of a successful outcome, that will efficiently affect the increase in the scale of the project.
- AIB Utility Token
- USD 0.05 the price of one AIB token
- Emission: 856,750,000 tokens
- USD 250,000 private pre-sale of tokens, 5,000,000 tokens
- Bonus with a private pre-sale of 35%.
- USD 2,000,000 Soft Cap
- USD 30,000,000 Hard Cap
- Token distribution:
- Public tokens (private sale, ICO) – 70% – 600,000,000 tokens
- Economic reserve – 10% – 85,000,000 tokens
- Advisory – 5% – 42,500,000 tokens
- Bounty – 5% – 42,500,000 tokens
- Partnership – 5% – 42,500,000 tokens
- Marketing – 5% – 42,500,000 tokens
To know the latest information about the AI Bank project you can visit the link below:
Bitcointalk username: ubay
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=376156
Telegram username: @ubaygates
Disclaimer: “I’m not a representative or a member of the AI Bank team, I just give you the latest ICO info”