Sponsored by Eric Aroesty, C’92
Come see the Finalists pitch live at the Startup Showcase!
April 27, 2018
Jon M. Huntsman Hall
Startup Challenge Semifinalist UniCoin
UniCoin is a B2B FinTech company that digitalizes the entire loan cycle from originating to trading, allowing banks to trade any kind of loans in a digital manner, thereby reducing costs and increasing revenue thanks to an 85% shorter liquidation cycle, generating billions of dollars to our clients.
How did you come up with this idea?
Taking out student loans to fund our education, we were amazed by how expensive and long the process it. Out of our own personal pain point, we started researching the subject, mapping all of the inefficiencies in the banking sector. When we found out just how inefficient the market is, we set to change it.
How will your venture change the world?
Every year, financial institutions in the U.S. spend $10 billion on originating, servicing and recording new mortgages and student loans. It takes 70 days to transfer a loan from Bank A to Bank B. Banks struggle to transfer and prove debt ownership, leading to billions of dollars of write-offs. This cost is estimated to increase loans rates by 1%. These inefficiencies are a pain point to all of the market players and by alleviating them we will give back some of these inefficiencies to the end consumers.
Shai Kivity WG’19
Jaime Gonzalez Fernandez
- Eilon wrote a book in six months, found a publisher after 2.5 years of search, financed the book in crowdfunding, becoming the first Israeli who crowdfunded a project in Israel, back in 2011.
- Shai has a hobby of learning new languages. He currently speaks 5 languages including Arabic and Chinese.