SOFIN: Some New and Unconventional Attributes of the System

Online loan systems involve many risks and investors think a lot before making investments in such systems due to higher risks of frauds and money loss. Team of SOFIN, since its genesis, is trying its level best to bring out the best professional services for our users with least number of risks associated with it. We have introduced a strict process of identification and verification of the borrower and he cannot get registered or apply for loan till the details and information he provided get verified. Only after that, he can get entry into the system to attain his desired amount of money. Verification parameters involved are enlisted below:

• Checking validity of borrower’s passport is an essential part of SOFIN verification system.
• Borrower is verified via checking in productions’ data bank.
• Borrower or the lenders are verified for bankruptcy process.
• People interested in taking money as loans needs to undergo for a trial version. This attribute will soon be incorporated with SOFIN verification system.
• Borrowers names are check in the list of terrorists and criminals to eliminate the chances of entry of any corrupt people in this system.
• Credit rating of borrowers are checked via credit rating bureau.
• IP address of borrowers are verified by special computer systems.
• Social networks of individuals (borrowers) are verified with 10 parameters of each social networking sites.
• Employer history and current employment organization is verified to have a complete check on borrower’s life.
• Borrowers’ utility bills are collected for more verification.
• Contact information and details, provided by the borrower at the time of registration, are verified (https://sofin.io/docs/whitepaper/en).

Credit rating system has been introduced with SOFIN platform and it is determined after close analysis of the data obtained from the servers and systems. Here, there is an opportunity of frauds and bugs by providing wrong but best scoring so we have brought another option where every interested person will require to have a phone call or video call with experts of SOFIN platform for complete verification. In case of any doubt, experts can call the individuals or representatives of borrower organization to SOFIN office for face to face meeting and only the verified person via phone or video call will be able to attain the maximum ratings. The ranking of the user will be affected by the SOFIN ratings and feedback given about them about the loan details.

Another unconventional feature of SOFIN is the introduction of Guarantee Fund which will definitely encourage and appeal the investors from all around the world to invest their valuable money with SOFIN system as this fund will cover all the potential loses in case of any fraud or no loan return from the borrower. This fund is not only for investors but is also available for borrowers.

Note: Token sale for SOFIN tokens is live and will remain available till 29th December 2017. We are inviting everyone around the world to participate in token sale and become the part of our system so rush to grab this opportunity of getting coins at cheaper rates and investing your money profitably (https://sofin.io/).

Website: https://sofin.io/
Whitepaper: https://drive.google.com/open?id=0B-Mzf44S_dQMeEliOWhodUVDZTg
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