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FintruX Welcomes Bob Rinaldi to its Board of Directors to Guide the Growth of its P2P Lending Ecosystem

Eseandre Mordi



Capital is what drives the world. Financial restraints have made countless individuals and organizations unable to attain their dreams and goals. Mostly, the only option that they have is to turn towards banks for loans.

Banks require some kind of a collateral for their security. This is in case the loan seeker defaults and then the bank can liquidate the asset to recover its money and any cost associated with it. In case a security is not available, banks look at the credit rating to decide if the loan seeker’s history reflects his or her ability to return the loan or not.

In this unsecured loan, lenders often charge a higher interest rate since there is more risk, for there is no collateral or security involved. This is a huge disadvantage to individuals who have never taken out a loan before or due to unforeseen circumstances, have a lower credit rating. With a history that does not reflect that the loan seeker would be able to repay the amount and principle, they are locked out of the option to get a loan.

Issues Identified by FintruX

FintruX is a decentralized platform that intends to create and facilitate an ecosystem where financing liquidity is maximized through leveraging blockchain and its efficient, transparent and low-cost system. The platform has carefully considered the opportunities that are available but not availed:

  • Cash flow, being essential to small companies, is hard to get. Unsecured loans carry a higher interest rate and as such, creates more cost to secure.
  • Even with the higher cost and interest, there exists a significant unsecured loan market. In 2014 alone, there was $292 billion worth of unsecured loans.
  • Due to higher costs, the traditional banking system is ill-suited to meet the modern requirements of small businesses, creating a void that needs to be fulfilled.
  • Due to bigger and secure loan seekers, lending institutions tend to avoid the unsecured market and as such, these loan seekers are deprived.
  • Transparency in getting unsecured loans is much lower than expected, creating an uncomfortable environment for both lender and seeker.

FintruX: Loans Through Trustless Financing

As a decentralized platform, FintruX uses the properties of blockchain to specifically create a system, which is designed with transparency, easy loans and small businesses in mind. It uses the best that blockchain has to offer to create a wide network of services to enable easy peer-to-peer lending:

  • Open, Transparent Ecosystem: The platform engages with a number of identities, AML, KYC, and microcredit scoring agencies to create user profiles and verify their legitimacy. This allows to instantly match lenders with borrowers within the platform.
  • Reputation Rating: Lenders and borrowers, both can rate each other when a loan is repaid. This creates a rating that future interacting parties can view and decide if they want to proceed in taking or giving loans.
  • Smart Contracts: Using automated contracts, both parties can be at ease, knowing that as soon as prerequisites are fulfilled, loan contract will execute defined instructions, eliminating the time delays.
  • Lower Fee: With intermediaries out of the equation, their commissions in getting loans is eliminated. Furthermore, the lower cost of transaction means that the overall cost of getting loans is cut down significantly.
  • Faster Access To Loans And Profits: With near instant matching with both parties, loan seekers have instant access to matching loan giving parties, while a better and quicker return with interest is a benefit for the lender too.

New Additions: Bob Rinaldi

FintruX knows that in order to achieve its goal, the platform must have a strong and experienced team to run its operations. In this regard, Mr. Bob Rinaldi has recently joined the team in the board of directors. Mr. Rinaldi has a history of guiding organizations to success. He has, in the past, been the CEO of the top financing organizations such as CI Finance, Director at one of the largest commercial banks, CBank and a senior VP of CSI Leasing. His expertise and skills can be judged from him taking CSI Leasing from annual originations of $3 billion to $8 billion.

At FintruX, Bob Rinaldi will use his aggregated experience and skills to guide the platform in development and deployment of all services and products. With him working at an international level in his career, he will be able to provide invaluable suggestions on taking the platform global.

Nelson Nil, CEO and Founder of FintruX Network said, “We are proud to have such a reputable and experienced professional join our Board of Directors, who is passionate about our vision. We look forward to seeing Bob Rinaldi’s dedication at work as we begin our journey to worldwide expansion” and “With Bob’s expertise, we will push forward in developing and providing a true peer-to-peer marketplace where lending and borrowing is more secure than ever before

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