Singapore-based Finbots.ai has partnered with Australian SME financial solutions provider Argenic to expand financing options for small and medium-sized enterprises (SMEs) in Australia. The partnership will leverage Finbots’ AI-powered credit modelling platform creditX and Argenic’s open banking capabilities to develop accurate credit scores and monitor portfolio risk against changing macroeconomic conditions.
Facts
- Finbots.ai partners with Argenic to expand financing options for Australian SMEs.
- Finbots’ credit modelling platform creditX uses AI to develop accurate credit scores.
- Argenic’s open banking capabilities will be leveraged to develop these credit scores.
- Argenic will monitor portfolio risk against changing macroeconomic conditions.
- The partnership will “open new opportunities” for Argenic to democratise credit access for SMEs.
- Finbots operates in eight countries across Asia Pacific, Middle East and Africa regions.
- 98% of Australia’s 2.6 million businesses are SMEs, and Argenic’s financial inclusion drive aims to support these underserved businesses.
