Singapore based FintruX Network, “a global P2P lending ecosystem,” has added Bob Rinaldi to its Board of Directors.
Rinaldi is a long time banker and entrepreneur. According to FIntruX, Rinaldi has served as the CEO of CI Finance, a national equipment finance company, and as a Director at CBank, a commercial banking community bank. He has also held positions as the Senior VP of CSI Leasing, and was the President of National City Commercial Capital Canada.
Rinaldi also played a role in growing ILC to the fifth-largest, bank-owned leasing company in the U.S. with annual originations of over $3 billion and $8 billion in assets. He is a Past-Chairman and Director of the Equipment Leasing and Finance Association (ELFA), the premier trade association representing the $1 trillion equipment finance sector.
By adding FintruX to their Board, Rinaldi should be able to help provide guidance to their mission of providing unsecured loans.
FintruX Network says they make it easy for small businesses to quickly secure loans with no collateral in any currency. The platform is said to be powered by blockchain and built using “no-code development,” which enables all possible contract combinations to be generated and deployed in real-time without human error.
FintruX Network says it facilitates “credit enhancement” that improves credit worthiness, reassuring the lender that the borrower will honor the obligation via smart contract.
Nelson Lin, CEO and founder of FintruX says that Rinaldi’s expertise will “push forward in developing and providing a true peer-to-peer marketplace where lending and borrowing is more secure than ever before.”
The FintruX Network is powered by a “utility token” FTX. Borrowers and lenders pay a transactional fee in FTX to use the platform. FTX may also be used to collateralize loans, according to their web site. If you are interested, you may read the FintruX whitepaper here.