finbots.ai expands its global footprint with new client in Australia

By Leandra Monteiro

Accel-backed finbots.ai, a Singapore-based B2B SaaS FinTech announced signing Argenic, a growth stage Australian FinTech 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 a comprehensive suite of financial management services including payments, lending, and investment solutions.

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.”

finbots.ai’s AI credit modeling platform creditX will leverage Argenic’s 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.

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.”