back Back

EDOMx taps FinTech finbotsAI for credit risk management

By Delisha Fernandes

October 11, 2023

  • AI-based algorithms
  • B2B SaaS
  • Consumer Credit

EDOMx, consumer credit, B2B SaaS, finbotsAI, credit risk management, M-PESA, AI-based algorithms, FinTech news, FinTech AfricaEDOMx, a Delaware entity with Kenyan operations, has announced signing an agreement with Singapore-headquartered B2B SaaS FinTech, finbotsAI, to enable credit risk management using AI.

With creditX, finbotsAI’s AI-powered credit modelling solution, EDOMx aims to utilize advanced machine learning and AI-based algorithms to develop high accuracy scorecards that are better at quantifying risk. Additionally, creditX empowers EDOMx to develop new or refreshed custom credit models on demand, instead of spending months building them or relying on generic market scorecards.

“Utilizing AI technology for credit scoring aligns perfectly with our mission to provide ethical and inclusive financial services to our customers. The partnership with finbotsAI empowers us to make more accurate lending decisions, which will ultimately benefit Kenya,” said Julian Kyula, Founder of EDOMx.

With these new capabilities, the company will be able to lend to more customers with reduced risk, resulting in responsible lending growth while scaling financial inclusion efforts. EDOMx selected finbotsAI after an extensive evaluation of the solution. This included a Proof-of-Concept where finbotsAI built custom scorecards on creditX using EDOMx’s historical data.

FARAJA, which provides Mobile Money Buy Now Pay Later (BNPL), offered to M-PESA customers and businesses in partnership with Safaricom, EDOMx has become a pioneering adopter of AI-based credit risk solutions, a key pillar of its business.

Samson Mutisya, Growth Director (Africa) of finbotsAI, said, “We are proud to expand our fast-growing client base in Africa, with a marketing innovator like EDOMx. We have seen enormous success in enabling lenders to drive financial inclusion responsibly. This partnership underpins the growing demand in Africa for sophisticated technology solutions that enable economic growth and solve legacy challenges.”

Previous Article

October 11, 2023

Paytm secures payment processes with Guest Checkout solution for merchants

Read More
Next Article

October 11, 2023

Sopra Banking Software launches AI-enabled Core Banking system

Read More

IBSi Daily News Analysis

Data privacy

July 16, 2024

AI-based algorithms

Rise in sophisticated attacks, state-level threats, and increased ransom DDoS Incidents

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


Slope raises $65m in equity and debt funding from J.P. Morgan & others

Read More


Jamaica’s First Global Bank partners with Profile Software

Read More

July 17, 2024

FIS & Lendio launch ‘SMB Digital Lending’ to boost small business loan processes

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
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!
Get your copy now! IBSi Sales League Table 2024