Samunnati, an Indian firm offering financial solutions to agriculture businesses, is partnering with Singapore’s Finbots.AI to integrate AI into its credit risk management solutions using CreditX, improving credit modeling and expanding access to credit for smallholder farmers and agri enterprises.
- Samunnati, based in Chennai, India, partners with Singapore’s Finbots.AI to integrate AI into its credit risk management solutions.
- Samunnati adopts Finbots.AI’s CreditX platform to enhance credit modeling accuracy in its Agri Finance function.
- Smallholder farmers and agri enterprises will benefit from more suitable loan products as Samunnati scales its MSME supply chain financing business with AI technology.
- A proof-of-concept by Finbots.AI reduces model development time from three months to four days and improves predictive accuracy significantly.
- Anil Kumar SG, CEO of Samunnati, sees technology as key to solving the access to finance challenge in Indian agriculture.
- Finbots.AI, backed by Accel and founded in 2020, aims to expand across the Asia-Pacific region with partnerships like this.
- CreditX has been adopted by Baiduri Bank in Brunei, Argenic in Australia, Sathapana in Cambodia, and has existing deals in Mongolia and Indonesia.
- Sanjay Uppal, CEO of Finbots.AI, is confident CreditX will make a similar impact in India.