Singapore-headquartered FinTech finbots.ai secures a FinTech client in Australia to expand customer footprint to 8 countries across APAC and MEA markets

Singapore-headquartered FinTech finbots.ai secures a FinTech client in Australia to expand customer footprint to 8 countries across APAC and MEA markets

SINGAPORE, 19 April 2023 /PRNewswire/ — Axis supported finbots.ai, a Singapore headquarters B2B SaaS FinTech today announced the signing of Argenic – a growth stage Australian FinTech offering a range of financial solutions for SMEs – as their latest client. With this, finbots.ai’s rapidly growing customer base has expanded to 8 countries across the APAC and MEA markets.

Argenic, a Brisbane based FinTech, offers a decentralized banking platform that offers local SMEs a comprehensive suite of financial management services including payments, lending and investment solutions.

finbots.ai’s AI credit modeling 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 efforts for the underserved local SME market. In addition, Argenic will be able to monitor portfolio risk by updating scorecards on demand amid frequently changing macroeconomic indicators such as interest rate and inflationary pressures.

Argenic selected creditX after a thorough evaluation for its ability to generate high-quality scorecards on demand, easy integration and fast time-to-value.

Sanjay Uppalfounder and CEO of finbots.ai said: “We are proud to make our foray Australia with a growth stage FinTech such as Argenic. I am convinced that our transformative AI platform will open new opportunities for Argenic to democratize access to credit for SMEs, at scale and speed and with adequate safeguards. We are seeing strong global demand for creditX from retail and SME banks and FinTechs, and this deal is further proof of our platform’s ability to rewrite the credit decision playbook for lenders.”

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Nick Holmescommented the Chief Operations Officer of Argenic Pty Ltd, “finbots.ai’s advanced AI technology will enable Argenic’s operations management to strengthen our capabilities to provide innovative solutions to our customers, improve their business processes and increase efficiency. We are pleased to leveraging finbots.ai’s cutting-edge technology to add value to our customers and drive our company forward.”

finbots.ai has recently completed the AI ​​Verify pilot, the world’s first AI governance testing framework and toolkit developed by the Singapore Government’s IMDA (Infocomm Media Development Authority) and PDPC (Personal Data Protection Commission). This validated the performance of the creditX solution on principles of fair, explainable and reliable AI, in an objective and verifiable manner.

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