Bogotá – MO Technologies LLC, a fintech that is revolutionizing the credit industry by empowering credit inclusion since 2016, has announced today that the United States Patent and Trademark Office will issue the US Patent 10,878,494 on December 29, 2020 covering its Artificial Intelligence Default Prediction System. This proprietary technology is applicable to the issuance of loans to businesses and consumers considered creditworthy through a bad debt forecast system.
After more than 2 years, MO Tecnologias LLC has been finally granted the patent. “This patent is an important milestone for MO´s intellectual property portfolio and it confirms our technical leadership for innovation in the credit industry. Although being advised about the complexity of being granted a patent for a financial service application in the USA, we always believed in our technology and the innovation that it is bringing to the credit industry”, said Paolo Fidanza, CEO and Cofounder of MO Tecnologias LLC.
MO´s Artificial Intelligence Default Prediction System is a machine learning-based platform which uses transactional data along with macro and local public variables to determine the daily probability of future default (or churn) of a customer or small business. Once implemented this platform can reach a 95% accuracy in predicting future defaults.
“Financial services patent applications are the most challenging patent applications to prosecute successfully at the United States Patent and Trademark Office from initial application filing to the final patent grant. This application was scrutinized closely by Examiners at the U.S. Patent Office and MO Tecnologias LLC, successfully overcame the patent office rejections. This accomplishment says much for the talented inventors and staff at MO Tecnologias, LLC.”, said Richard K. Warther, Shareholder, Registered Patent Attorney of Allen, Dyer, Doppelt + Gilchrist.
This achievement confirms the company’s technical leadership for innovation in the credit industry and how it’s s at the cutting edge of technology industry.
About MO Tecnologias LLC
A fintech that is revolutionizing the credit industry by empowering credit inclusion since 2016. MO is targeting the 3 billion users worldwide without access to traditional credit. MO’s SaaS business model licenses the technology to partners of all verticals from the financial and fintech industry, to non-financial industries such as CPGs, GIGs, BPOs and service companies. MO generates revenues through a simple and scalable commercial model mainly based on a recurring fee per user or product scheme.
It also has a proprietary, complementary, alternative, and innovative credit scoring technology which uses non-traditional variables along with Artificial Intelligence and Machine Learning models to evaluate the creditworthiness of a client. Additionally, MO has been focusing in creating a 360° credit solution for our partners, from the digital on-boarding through a white label open-data platform to a credit management platform.
Chief Strategy Officer
PR and Communications Specialist