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deposit auction, social loan negotiator cum digital payment (equitable virtual bank sys)

deposit auction, social loan negotiator cum digital payment (equitable virtual bank sys)

The first product allows banks to bid for financial assets by providing an auction means and transparency to discover a better rate for banks to banks and for banks to customers. (US PATENT 7,376,612). The second product generates digital financial instruments (US PATENT 7,742,996) over POS using mobile device. The third product is social lending (US PATENT 8,001,035) and loan syndication (US PATENT 7,493,279). To date I have been able to complete depositoffer.com and loansyndicate.com. Loansyndicate is a friend to friend loan syndication system. One has to invite friends and those invited friends have to trust the loan syndicator that the others are as trustworthy as well. This is because those invited are asked to pool funds and then to bid for the funds, each one can only borrow once. This means one must lend as well as borrow. In the long term, we will be able to collect data about ones lending and borrowing, with whom, how long, quantum and so on to facilitate a TRUST score.
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chris kwan

Avatar for chris kwan
Inventor 10 US Fintech Patents Founder @bankguru, @loansyndicate, @ozrealestates.com @depositoffer.com . studied law/engineering/finance.
Total raised

$100K

Funded over

1 round

Latest round

Seed (Jun 2013)

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