Finbots.ai credit modelling platform to power Argenic’s SME lending
Singapore-based Finbots.ai has signed up Aussie SME financial solutions provider Argenic, expanding the financing options for small and medium-sized enterprises (SMEs) Down Under.
Finbots.ai CEO Sanjay Uppal
Finbots’ AI-powered credit modelling platform creditX will leverage Argenic’s open banking capabilities to develop accurate credit scores.
Argenic will also be able to monitor portfolio risk against changing macroeconomic conditions such as interest rates and inflationary pressures.
Based in Brisbane, Argenic provides a decentralised banking platform offering local SMEs a suite of financial management services including payments, lending and investment solutions.
Finbots CEO Sanjay Uppal says the credit platform will “open new opportunities” for Argenic to democratise credit access for SMEs, “at scale and speed with adequate guardrails”.
“We are seeing a strong global demand for creditX from retail and SME banks, and fintechs,” Uppal adds.
The partnership will support Argenic’s financial inclusion drive for underserved Australian SMEs, which constitute 98% of Australia’s 2.6 million businesses.
With a foothold in Australia, Finbots now operates in eight countries across the Asia Pacific and Middle East and Africa regions.
