Introducing QianNow (now known as Minterest Money)
The Minterest Group is pleased to announce the opening of our consumer financing business, QianNow (now known as Minterest Money).
Selected and regulated by the Ministry of Law to pilot new consumer lending practices in Singapore, QianNow utilises proprietary credit scoring algorithm to instantly assess the creditworthiness of each individual based on a combination of traditional data as well as non-traditional data such as bank transactions, psychometrics and even one’s social networks.
Technology is changing the way we live, work and play. With more people opting for flexibility and autonomy at work, we are witnessing the rise of the gig economy in Singapore. Currently, at least 10% of the workforce are contract workers/freelancers, and nearly half of the working population expressed interest in being part of the gig economy. QianNow is designed to meet their needs as jobs evolve and for the future workforce.Using digitalised credit scoring algorithm to assess the credit worthiness of individuals, we are able to lower the overall financing cost to individuals by as much as 50% of the current bank credit card financing rates. We believe QianNow will be a safe and cost effective option for individuals.
Did we say Personalised and Cost Effective Interest Rates?
With QianNow, say goodbye to a one-size-fits-all model, and instead welcome a new model where the amount of data which a borrower provides will determine a unique and personalised interest rate that is an accurate reflection of the financing cost each borrower should have to bear. There is no penalty for early repayment and the online application is simple and fast, allowing you to log onto the platform anytime, anywhere.