BrainiSoft IT Company intends to enter the US, Indian and UAE markets in the near future

BrainiSoft, a resident of the Skolkovo Foundation, plans to enter the markets of the USA, India, Indonesia, UAE and Saudi Arabia in the near future. Currently, the company provides its services in five countries: Russia, Kazakhstan, Moldova, Poland and Romania.

"Earlier we did not have strategic plans to enter other countries. Companies for which we are a technology partner were entering already developed markets, and we moved together with them. This is the simplest and the least expensive way of expansion," said CEO of BrainiSoft Galina Bakhmetieva specifying that at the moment the company has various options of entering the U.S., India, Indonesia, UAE and Saudi Arabia markets.

She added that within the credit conveyor established by the company, there is no special difference in the work in the markets of different countries in terms of geography. However, cultural specifics and level of technology development need to be taken into account as part of overseas market expansion.

BrainiSoft's export revenue more than tripled during the year.

About the Company

Founded in 2013, BrainiSoft provides cloud-based software (SaaS) for the financial sector - microcredit and microfinance institutions, 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, BreniSoft has been a resident of Skolkovo Innovation Center since 2013.

Products

Loan process can be conventionally divided into two parts: loan conveyor and loan servicing.

The credit conveyor consists of 3 stages: lead generation (receipt of application from potential client), filling of application form and borrower's trustworthiness estimation following which a decision about loan granting is taken. The process of evaluation of the borrower is carried out through the Decision Making System (DMS) through requests to external databases.

At the same time, for each application the system involves individual configuration of parameters - both manual, when all decisions are taken by specialists of the company, and automatic, in which the adjusted algorithm gives an answer in a few seconds. The platform can connect virtually any external database via API or use a ready-made external integration.

The second part - is the functionality to support loans from the time of issuance until full repayment. The system allows to set up 134 available parameters for correct tracking of the transaction and record almost any loan product - short-term and long-term loans, cash loans, leasing, mortgages and POS loans, as well as calculate the rate based on the risk profile at the time of granting.

The financial company does not need to maintain a large staff of IT staff. All necessary specialists are already available at BrainiSoft.

To combat fraud, online identity verification, authentication of documents and tracking suspicious user behavior on the customer's online resources are available.