PR Newswire
19 Apr 2023, 06:00 GMT+10
SINGAPORE, April 19, 2023 /PRNewswire/ -- Accel-backed finbots.ai, a Singapore headquartered B2B SaaS FinTech today announced signing Argenic - a growth stage Australian FinTech providing a suite of financial solutions for SMEs - as their latest client. With this, finbots.ai's fast growing customer base has extended to 8 countries across APAC and MEA markets.
Argenic, a Brisbane based FinTech, provides a decentralised banking platform offering local SMEs with a comprehensive suite of financial management services including payments, lending, and investment solutions.
finbots.ai's AI credit modelling platform creditX will leverage Argenic's rich Open Banking and historical data to develop high accuracy and agile credit scorecards at a fraction of the time and cost. This will result in improved efficiency and accelerate Argenic's financial inclusion drive for the underserved local SME market. Additionally, Argenic will be able to monitor portfolio risk by refreshing scorecards on demand amongst frequently changing macroeconomic indicators such as interest rate and inflation pressures.
Argenic selected creditX after a thorough evaluation for its ability to generate high quality scorecards on demand, ease of integration and fast time-to-value.
Sanjay Uppal, Founder and CEO of finbots.ai said, "We are proud to make our foray into Australia with a growth stage FinTech like Argenic. I am confident that our transformative AI platform will open new opportunities for Argenic to democratise credit access for SMEs, at scale and speed and with adequate guardrails. We are seeing a strong global demand for creditX from Retail and SME banks and FinTechs, and this deal is a further testament to our platform's capability rewrite the credit decisioning playbook for lenders."
Nick Holmes, Chief Operations Officer of Argenic Pty Ltd commented, "finbots.ai's advanced AI technology will enable Argenic's operations management to strengthen our capabilities in providing innovative solutions to our clients, improving their business processes, and increasing efficiency. We are excited to leverage finbots.ai's cutting-edge technology to add value to our clients and propel our company forward."
finbots.ai has recently successfully completed A.I. Verify pilot, 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). This validated the performance of creditX solution on principles of fair, explainable and trustworthy AI, in an objective and verifiable manner.
Get a daily dose of Asia Bulletin news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Asia Bulletin.
More InformationIn the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...
LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...
WASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
WASHINGTON, D.C.: An elaborate impersonation scheme involving artificial intelligence targeted senior U.S. and foreign officials in...
SLUBICE, Poland: Poland reinstated border controls with Germany and Lithuania on July 7, following Germany's earlier reintroduction...
WASHINGTON, D.C.: After months of warnings from former federal officials and weather experts, the deadly flash floods that struck the...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...