back Back

ANEXT Bank launches new initiative to drive financial inclusion for SMEs

By Leandra Monteiro

November 03, 2022

  • ANEXT Bank
  • Digital Lending
  • Digital Wallet
Share

ANEXT BankANEXT Bank, a digital wholesale bank incorporated in Singapore and a wholly owned subsidiary of Ant Group, unveiled its latest initiative to drive further industry collaboration as part of its mission to enable inclusive financing for SMEs.

The initiative aims to improve and scale embedded finance for SMEs, making it easier for businesses to access financing, as well as to monitor and manage it on platforms where they run their business.

The ANEXT Programme for Industry Specialists is open to the participation of all e-commerce marketplaces, FinTech companies and digital solutions providers who support SMEs’ cross-border operations through digital-based services or platforms. ANEXT Bank will collaborate with these industry specialists to expand the breadth of service offerings for SMEs on their platforms to include digital financial services offered by ANEXT Bank.

This will allow SMEs to have one-stop access to a more comprehensive suite of services, and to gain a consolidated view of their business such as wallet balance, loan amount and repayment status, etc.

Speaking of the initiative, Toh Su Mei, the Chief Executive Officer of ANEXT Bank said, “With our secure banking capabilities and first-hand knowledge on what it takes to do business digitally, ANEXT Bank is well positioned to help partners unlock more growth opportunities by enabling access to financing to SMEs on their platforms. At the same time, industry specialists are domain experts in their respective fields and they can provide deep insights on the challenges and needs of SMEs. Together, we can create unique use cases and solve financing pain points for SMEs at scale.”

FinTech company IN Financial Technologies and Business Process Management provider Bizmann System are among the first to take part in the programme. The two partners combined are serving close to 15,000 SMEs.

As part of the ANEXT Programme for Industry Specialists launch, ANEXT Bank provided a preview of the ANEXT Business Loan to complement its existing ANEXT Business Account. The ANEXT Business Loan is a fuss-free and flexible unsecured financing solution with two repayment options “pay-per-use” and “pay monthly” available at competitive rates. The minimum loan amount available starts at S$5,000.

Previous Article

November 03, 2022

Finnish S-Bank chooses Worldline to detect card frauds

Read More
Next Article

November 03, 2022

iink Payments closes on $6m debt facility

Read More






IBSi Daily News Analysis

May 28, 2024

ANEXT Bank

Latin America becomes a hotbed for FinTech unicorns and tech innovation

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Chetwood Financial acquires CHL Mortgages for Intermediaries

Read More

Today

AbleCredit secures $1.25m in seed funding led by Merak Ventures

Read More

May 27, 2024

Moroccan HPS acquires Ireland’s CR2 to bolster global expansion

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023