Last week ZoomiMoney pitched their innovation to Portugal Finlab.
What ZoomiMoney is doing?
CreditTech: 75 data points risk profiling vs standard 25 points bank credit; 10 years data review and analysis vs 2 years standard bank systems; 50 dynamic economic data inputs vs 5 static points. Plus, growth and risk research and analysis inputs by post code/zip code, state, country and region, industry and economic data review.
What’s next for ZoomiMoney?
ZoomiMoney is aiming to sign on a few bank partners for the coming quarters because bank systems just do not have this capability – they weren’t designed to do this. ZoomiMoney has the vision and capability of pricing risk by applicants/application and are building out this new technology infrastructure for banks, fintechs, neobanks, regulators, insurers and investors.
Their biggest disruption is their financial product innovation serving under 35’s target niche – a mortgage allowing young people to access housing years earlier, with less savings due to current rent commitments. ZoomiMoney creates safer mortgages with lower default risk design, and offer investment funds a safer investment class, with a premium for this new prime class.
Ethical and socially responsible products that challenge prejudice and loss of opportunity imbedded in current credit processes globally.
Why pitch to Portugal Finlab?
The PORTUGAL FINLAB is a communication channel between innovators – new players in the market or incumbent institutions having innovative tech-based financial projects or products – and the Portuguese regulatory authorities. Through it, the Authorities provide guidelines to the Participants on how to navigate and operate in the regulatory system.
The purpose of the PORTUGAL FINLAB is to support the development of innovative solutions in FinTech and related areas through cooperation and mutual understanding.