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HomeBUSINESSSamunnati partners with Singapore-headquartered fintech finbots.ai to transform credit risk management using...

Samunnati partners with Singapore-headquartered fintech finbots.ai to transform credit risk management using AI

Samunnati partners with Singapore-headquartered fintech finbots.ai to transform credit risk management using AI

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

Samunnati, India’s largest agri
enterprises, today announced signing an agreement with Singapore-headquartered
B2B SaaS FinTech finbotsAI, to transform credit
risk management using AI.

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. Samunnati will also be
able to process new applications instantly, resulting in improved efficiency
and greater agility in operations.

Samunnati made the decision to
sign with finbotsAI after an extensive evaluation via a Proof-of-Concept using
historical data. 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.

Commenting on the partnership, 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 commented, “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 fast
growing client base stretches to 10 countries across APAC and MEA markets while
Samunnati strengthens its credit-risk management using world-class AI-enabled
platform.

finbots.ai is an Accel Portfolio FinTech company with a mission to help lenders drive profitable lending and financial inclusion with creditX, our AI-powered platform to rapidly build high accuracy risk scorecards.

creditX is used by lenders across 4 regions, specifically Africa, Middle East, APAC and Australia, and by the full spectrum of lending companies, including digital banks, SME lenders, agri-lenders, consumer lenders and Credit Bureaus.

finbots.ai has been recognised among ‘Top 10 FinTechs in Singapore’ at the Monetary Authority of Singapore (MAS) FinTech Awards 2022. The FinTech is also part of PwC’s Partner Programme and a Featured Partner for Tata Consultancy Services.

finbots.ai is amongst one of the first FinTechs to have completed AI Verify, the world’s first AI Governance testing framework and toolkit developed by Singapore Government’s IMDA (Infocomm Media Development Authority) and PDPC (Personal Data Protection Commission).

finbots.ai is headquartered in Singapore and has offices in India (Hyderabad), the United Arab Emirates (Dubai), Indonesia (Jakarta) and Nairobi (Kenya).

For more information on finbots.ai, click here: https://www.finbots.ai/.

Suren Rastogi
M: +65 9736 8962
E: suren.rastogi@finbots.ai

The PRactice – Farooque Shaikh
M: +91-9594777764
E: farooque@the-practice.net

This press release has also been published on VRITIMES

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