BrainiSoft's software proved to be industrially feasible

Brainysoft software, developed by a resident of Skolkovo Foundation, proved its ability to work on an industrial scale according to the results of an independent examination of fintech company Revo Technologies - one of the leaders in the market of instant purchase financing. As part of the SaaS study, the BRAINYSOFT V3.0 platform successfully processed three million active contracts in just three hours.

Lending institutions operating in Russia across multiple time zones need to fit all interest accruals on loans and calculate cashback in a short technology break before the next business day. At the same time, with online lending and the possibility of convenient online repayments, the processing of accruals and calculations during the technological break should not block the possibility of accepting payments in real time.

Fintech experts at Revo Technologies conducted joint load testing on a portfolio of three million active loans using in-house infrastructure. Based on the test results, the BRAINYSOFT V3.0 SaaS platform performed well.

"We have great respect for the competence of our colleagues and their technical request for a load test. We agreed not to do detailed customizations, taking the current configuration as a basis. At the moment our company serves more than two hundred clients, but none of them has more than one million contracts. That is why we did not have an opportunity to make such a test before", - commented Galina Bakhmetieva, the CEO of BreniSoft, on the research.

Andriy Zubarev, CTO of BreniSoft, said that processing of three million contracts in three hours is not the limit for the system. Therefore, "the vector of optimization works has already been put into the plan."

About the Skolkovo Foundation

The Skolkovo Foundation is a non-profit organization established at the initiative of the Russian president in September 2010 in order to create an ecosystem favourable for entrepreneurship development and research in various innovative fields. The Foundation is responsible for managing the Skolkovo Innovation Centre, which is governed by a special law that provides special economic conditions for start-ups that have undergone special external technological expertise. The startups employ 33,000 people and have patented over 1,300 developments and technological solutions.

The Skolkovo Institute of Science and Technology (Skoltech), created and supported by the Massachusetts Institute of Technology, is an important part of the Skolkovo ecosystem.

About BraneySoft

Founded in 2013, BrainiSoft provides cloud-based software (SaaS) for the financial sector - microcredit and microfinance organizations, credit cooperatives, leasing companies, banks and pawnshops.

The SaaS platform developed by the company performs the functions of a full cycle automated loan conveyor - from the loan application, loan life support to reporting to supervisory authorities. Functionally the system automates the processes of granting loans / credits remotely and in the office, reverse leasing, POS lending, subscription products, Islamic banking.

The platform has a number of important competitive advantages:

• Diversified functionality enables quick startup through customization - starting from 1 month.
• Industrial transaction volumes - proven high performance on a volume of over 3 million borrowers.
• Antifraud module.
• Flexible customization of loan products.
• PLUG&PLAY technology when integrating with external data sources to enrich customer information.
• Advanced API.

There are 3 licensing options to use Brainysoft platform:

• Monthly Payments. The most common option which consists of monthly payments for the number of users. This licensing option does not require large financial investment at the start. Low sign-on threshold allows you to try out the system even before you start your whole company.
• Revenue Share. BrainiSoft acts as a partner of the customer within this tariff and earns money only if the customer earns money.
• On-Site. Provides the opportunity to purchase software on its servers for an unlimited period with a one-time payment. The license includes two tariffs: one tariff with free minor upgrades for the 1st year of usage and a second tariff with a yearly subscription to minor and major upgrades.

All the necessary functionality for a financial institution - loan conveyor and loan servicing module - together with the possibility to lease the platform allow companies of any size to work with BrainiSoft.

Since the company's developments in the field of mathematical financial models and technologies for creating a cloud platform are recognized as innovative, BrainiSoft has been a resident of the Skolkovo Innovation Center since 2013.