back Back

Samunnati joins FinTech finbots.ai to facilitate AI-based credit risk management

By Gloria Mathias

September 13, 2023

  • Agri
  • Agri Enterprises
  • AgriTech
Share

Samuunati, Agri Enterprises, India, Fintech, B2B, SaaS, Singapore, Artificial Intelligence, Samunnati, India’s Agri enterprises has signed an agreement with Singapore-headquartered B2B SaaS FinTech finbots.ai and is set to transform using AI.

finbots.ai’s credit modelling solution, creditX, will enable Samunnati to build high-quality credit risk scorecards faster, accelerating the growth of the Agri & SME lending business & driving financial inclusion.

With this, Samunnati becomes the first Agri Enterprise in India to incorporate advanced AI-based solutions into a key pillar of its business, supporting its mission to drive greater financial inclusion for smallholder farmers and agri enterprises.

Through this partnership, Samunnati has become the first client of Accel-backed finbotsAI in India. With creditX, finbots.ai’s AI-powered credit modelling platform, Samunnati will be able to develop high accuracy custom credit models on demand, enabling them to scale their agri and MSME supply chain financing business with reduced risk.

With creditX, finbots.ai was able to reduce model development time from 3 months to 4 days with a significant increase in predictive accuracy, demonstrating potential upsides in revenue and operating efficiencies.

Anil Kumar SG, CEO and Co-Founder, Samunnati, said, “We believe that innovation is the key to solve the access to finance paradox and to unlocking the potential of Indian agri. The partnership with finbotsAI aligns perfectly with our vision of leveraging technology to serve our customers better and contribute to the growth of the Indian Agri.”

Sanjay Uppal, Founder & CEO, finbots.ai noted, “We are proud to make our foray into an exciting market like India with an industry leader in Samunnati. We have seen enormous success in enabling lenders in Southeast Asia and Africa to safely lend to new segments and accelerate financial inclusion and are confident our transformative AI platform, creditX, will have a similar impact in India. We are seeing creditX become a preferred option for lenders globally, and this deal reinforces the desire for cutting-edge technology solutions that solve legacy challenges.”

With this deal, finbots.ai’s client base stretches to 10 countries across APAC and MEA markets while Samunnati strengthens its credit-risk management using a world-class AI-enabled platform.

Previous Article

September 13, 2023

4 FinTechs redefining cross-border payments in the UK

Read More
Next Article

September 13, 2023

FinTech Swan raises €37m Series B to fuel expansion in Europe

Read More






IBSi Daily News Analysis

Payment, innovation

May 27, 2024

Agri

New tech boosts European payments with 40% conversion rate increase

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

May 27, 2024

4 Payroll Management firms simplifying SME operations in Europe

Read More

May 27, 2024

Danish firm Ageras raises €82m for FinTech acquisitions

Read More

May 27, 2024

Newgen Software onboards Finastra to expand market reach

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