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Wiserfunding selects modefinance to launch fintech rating for SMEs

wiserfunding

                Edward Altman

SME- focused credit risk assessment fintech Wiserfunding has selected modefinance, an AI-fintech firm for a strategic partnership in a bid to create a solution that facilitates the dialogue between SMEs and the financial system.

The partnership is expected to develop a customized SMEs Rating, powered by the combination of economic analysis and rating agency technology. This will assist the SMEs in understanding the dispersal of credit culture. The solution, thus created, comprises of a predictive and a reliable model with the ability to identify potential risk factors and to support the daily economic-financial management.

According to the supplier, the objective of the companies spans around assisting the SMEs in understanding their risk profiles, helping parties to offer SME credit as well as reduce costs and capital requirements.

The partnership follows the rise in credit costs and rigid and unclear regulation which brought about a significant reduction in market confidence and discouraged SMEs to take actions.

Wiserfunding was founded by Professor Edward Altman and Dr. Gabriele Sabato to assess the credit risk of small and medium-sized enterprises (SMEs). Wiserfunding uses past financial history and a range of publicly available structured and unstructured data to assess the creditworthiness of SMEs across Europe. This empowers businesses to obtain finance and lenders and insurers to assess the risk of business applicants by providing more accurate data to make better decisions quicker than ever before

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