Magnati, a prominent payment solutions provider in the Middle East, and Biz2X, a global leader in lending platform technology, have joined forces to launch a game-changing embedded finance platform – one of the largest in the UAE specifically dedicated to empowering SMEs. This groundbreaking collaboration leverages the power of Artificial Intelligence (AI) to significantly enhance credit accessibility for businesses within the nation’s thriving SME landscape.
Magnati’s extensive network of SME merchants will benefit from a streamlined digital experience for accessing capital. The platform utilizes real-time payment transaction data and AI-powered credit evaluation to grant immediate access to financing options. Merchants can conveniently browse and select from a variety of credit offers presented by multiple lenders directly through Magnati’s “Payment As A Platform” (PaaS) solution.
Revolutionizing Loan Processes for Both Borrowers and Lenders
Powered by Biz2X’s cutting-edge technology, the platform simplifies the loan application process for merchants. Additionally, it employs an AI-driven engine to forecast daily sales trends and facilitate automated daily repayment deductions, ensuring efficient loan management.
For lenders, including banks and financial institutions, the platform offers several advantages:
- Automated loan decision-making based on AI-powered credit assessments
- Enhanced insights into merchants’ historical and projected revenue trends
- Establishment of customized credit policies
- Quotes from Industry Leaders
Ramana Kumar, CEO of Magnati, emphasizes the partnership’s significance:
“This collaboration with Biz2X underscores our commitment to revolutionize the regional financial landscape with cutting-edge digital finance solutions through our integrated Payment As A Platform. We are confident that this platform will empower SMEs, fueling the growth of the UAE’s dynamic SME sector. By combining our robust payment data with Biz2X’s AI-powered underwriting platform, we are simplifying the lending process for both lenders and merchants, fostering a more inclusive financial ecosystem.”
Rohit Arora, CEO of Biz2X, reiterates their commitment to financial inclusion:
“Our partnership with Magnati exemplifies the power and potential of our Biz2X® platform, showcasing its expertise in digital finance and advanced AI technology. We strive to make financing accessible and efficient for all business owners across the globe. Through this collaboration, we are fulfilling this mission while contributing to the economic prosperity of the UAE.”
This strategic alliance between Magnati and Biz2X signifies a significant leap forward in the evolution of SME financing within the UAE. By harnessing the power of AI and digitalization, the partnership paves the way for a more inclusive and efficient financial ecosystem, empowering SMEs to thrive and drive economic growth in the region.
