Magnati and Biz2X announce embedded finance partnership in UAE

Magnati, a leading payment solution provider in the Middle East, has partnered with Biz2X, a global fintech leader in lending platform technology, to introduce one of the UAE's largest embedded finance platform for SMEs. This collaboration harnesses AI-powered underwriting to enhance credit accessibility within the country's thriving SME sector. The partnership will enable a seamless digital experience for Magnati's extensive SME merchant base, granting them immediate access to capital based on their payment transaction data. Merchants availing Magnati's payment solutions will gain digital access to financing and can select credit offers from multiple lenders available on Magnati’s “Payment As A Platform”. Powered by the Biz2X® platform, this solution provides Magnati merchants with a streamlined and efficient loan application process. Furthermore, the platform simplifies loan repayment by utilizing an AI-powered engine to forecast daily sales trends and recover amounts daily. For lenders, including banks and private financial institutions, the AI-powered platform enables the establishment of credit policies and facilitates automated loan decisions. It provides insights into merchants' past revenue trends and forecasts future revenue trends for accelerated loan approval. Ramana Kumar, CEO of Magnati, stated: “This partnership with Biz2X underscores our commitment to introducing cutting-edge digital finance technology in the region through our integrated “Payment As A Platform”. We are confident that this platform will empower SME merchants and contribute to the growth of the UAE’s vibrant SME sector. The combination of our payments data with Biz2X’s AI underwriting platform simplifies the lending process to benefit both lenders and merchants.” Rohit Arora, CEO of Biz2X, added: “Our partnership with Magnati reflects the digital finance expertise and advanced AI-based technology that the Biz2X® platform delivers. Our mission is to make financing accessible and efficient for business owners everywhere. With this partnership, we are fulfilling that aim and helping to power economic growth and prosperity in the UAE.”