Wiserfunding has partnered with AI credit platform CrediLinq.Ai to launch into the Southeast Asia small- and medium-sized enterprises (SME) credit underwriting market.
Singapore-based CrediLinq.Ai said it will support the development of country specific models with Wiserfunding, a London-based provider of credit risk assessment for SME lenders, to improve credit assessments for SMEs in poorly served markets.
“CrediLinq.Ai is proud to partner with Wiserfunding to build and implement credit risk models appropriate to the SME segment in Southeast Asia,” said Steven Nocka, chief risk officer and co-founder of CrediLinq.Ai.
“Across the region, SMEs represent more than 95 per cent of all businesses, and are historically and currently underserved by banks and other providers of capital.
“The key is in understanding these businesses and their needs, and to identify data sources that allow us to underwrite their risk accurately and efficiently.
“The partnership with Wiserfunding allows us to accelerate this work and to deliver much needed financing quickly and on far better terms than is currently available across Asia.”
“It’s well known in global financial services that Southeast Asia is a huge growth opportunity with fast-emerging economies creating new corporates that have internationally recognisable brands,” said Gabriele Sabato, chief executive of Wiserfunding.
“The growing pains of economic development coupled with the economic difficulties of the pandemic have left smaller businesses without the same access to credit as peers in advanced economies.
“Our partnership with CrediLinq.Ai will provide access to underserved SMEs throughout the region, championing financial inclusion through accurate, fast and fair credit decisions that boost the whole economy, not just businesses at the top.”