CREDITENABLE, an analytics solution for small- and medium-sized enterprise (SME) lenders and borrowers, has won a place in the Visa-backed Inclusive Fintech 50 competition.
The firm, which has offices in London and Mumbai, provides global analytics tools that enable lenders to assess SME borrowers more quickly and effectively. It uses numerous proprietary AI technologies to address what it sees as one of the world’s “most dysfunctional credit gaps”.
Inclusive Fintech 50 is a competition funded by MetLife Foundation and Visa, with support from Accion and IFC. It is designed to recognise early-stage fintechs driving financial inclusion in both emerging and advanced markets around the world, especially those helping innovate for underserved customer groups in credit, insurance, payments and remittances, infrastructure and personal finance.
“Moving excluded people, communities and sectors into the financial mainstream is one of the most urgent challenges facing developed and emerging societies alike, and the biggest opportunity for fintechs to address,” said CreditEnable chief executive and founder Nadia Sood.
“I am proud to have won a major award in such a hotly contested area and want to thank the judges and organisers of the Inclusive Fintech 50 for their important initiative and for our commendation.”
“CreditEnable demonstrates the power of technology and smart solutions for solving problems in the SME credit market, an important segment for driving economic growth and prosperity in many countries,” said the analyst team at Inclusive Fintech 50. “We’re excited to recognize CreditEnable’s success to date, and will continue to watch the firm as it enables lenders to more easily reach and service SMEs with appropriate and accessible products.”
This is not the first accolade that CreditEnable has won. In January, it emerged that it was one of 20 start-ups chosen to join Accenture’s 2019 Fintech Innovation Lab.