PR Newswire
19 Apr 2023, 10:30 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 Pacific Star 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 Pacific Star.
More InformationDHAKA, Bangladesh - According to new research that ranks political violence worldwide, Bangladesh ranks 22nd out of the world's 50 ...
RAWALPINDI, Pakistan - Army Chief General Asim Munir met with members of Pakistan's Christian community on Monday, emphasizing the importance ...
DHAKA, Bangladesh - The BNP has given the government an ultimatum to release BNP Chairperson Khaleda Zia, who is being ...
ISLAMABAD, Pakistan - Caretaker Foreign Minister Jalil Abbas Jilani stated on Saturday that Pakistan's decision to establish relations with Israel ...
MANDALAY, Myanmar - According to local sources, Junta soldiers kidnapped over 60 civilians from a village in Mandalay Region's Myingyan ...
KATHMANDU, Nepal - Meteorologists announced that Nepal experienced below-average rainfall during the current monsoon, which is expected to last about ...
WASHINGTON D.C.: After consumer complaints of oil pump failures, the National Highway Traffic Safety Administration's (NHTSA) Office of Defects Investigation ...
NEW YORK, New York - With no major news Monday, and nothing on the horizon, U.S. stocks remained little moved, ...
WASHINGTON D.C.: In a small but rare reduction to its headcount, which has grown steadily since 2010, the US Federal ...
CAMP HILL, Pennsylvania: This week, the Wall Street Journal (WSJ) reported that Rite Aid could shut down some 400 to ...
WASHINGTON D.C.: U.S. Transportation Secretary Pete Buttigieg has criticized the air traffic control staffing shortages in New York as "unacceptable" ...
BURBANK, California: A note by Needham media analyst Laura Martin released this week revealed that CEO Bob Iger told investors ...