Samunnati, an Indian firm specializing in financial solutions for agriculture businesses, partners with Singapore-based fintech Finbots.AI to integrate AI into its credit risk management solutions, leveraging Finbots.AI’s CreditX platform to enhance credit models and expand access to credit for smallholder farmers and agri enterprises.
- Samunnati, based in Chennai, India, partners with Finbots.AI, a Singapore-headquartered B2B SaaS fintech.
- Samunnati adopts Finbots.AI’s CreditX platform to enhance its credit modeling in the Agri Finance function.
- This integration aims to provide more suitable loan products to smallholder farmers and agri enterprises, promoting MSME supply chain financing.
- A proof-of-concept by Finbots.AI reduced model development time from three months to four days, with a significant increase in predictive accuracy.
- Anil Kumar SG, CEO and co-founder of Samunnati, highlights technology as the solution to the access to finance challenge in Indian agriculture.
- Finbots.AI, backed by Accel and founded in 2020, continues its expansion in the Asia-Pacific region, with previous deals in Brunei, Australia, Cambodia, Mongolia, and Indonesia.
- Sanjay Uppal, CEO of Finbots.AI, expresses confidence in CreditX’s impact in the Indian market through this collaboration with Samunnati.