IIFL is committed to deliver structured credit products, says Jain
Singapore-headquartered actyv.ai will help IIFL Finance (IIFL) to provide bite-sized credit to power the ‘Buy Now, Pay Later’ (BNPL) embedded offering on its platform.
This will be under a partnership announced on 6 Mar 2023 in Mumbai.
Arihant Jain, Head of Digital Products and Data Science, IIFL Finance, said, “The SMB ecosystem is a major contributor of growth in the Indian economy. Business volatility necessitates SMBs to raise capital instantly.
“IIFL is committed to deliver structured credit products, backed by innovative technology to this category. actyv.ai, offering effective and relevant technology interventions for the enterprise and its partner ecosystem on a single platform is an ideal choice for collaboration. With our shared goals, this partnership with actyv.ai is a natural fit.”
Raghunath Subramanian, Founder and Global CEO, actyv.ai, added, “actyv.ai will enable IIFL’s commitment to provide sustainable and responsible credit to SMBs across the country.
“We are certain that our AI-powered SaaS platform, with its embedded offerings, will help drive growth and deliver significant value to enterprises and their entire supply chain ecosystem. We are proud to partner with IIFL.”
IIFL Finance Limited is a Systemically Important Non-Deposit accepting Non-Banking Financial Company registered with Reserve Bank of India, catering to the credit needs of diverse customer base with plethora of products.
actyv.ai is an AI-powered enterprise SaaS platform with embedded B2B Buy Now Pay Later (BNPL) and insurance, transforming the global B2B supply chain by making business transactions faster and easier. fiinews.com
