actyv.ai, an AI-powered Enterprise SaaS platform, has partnered with Axis Bank, India’s third largest private sector bank, to offer the Bank’s Supply Chain Finance solutions to MSME customers.
According to the company’s press release, The association will enable corporate anchors, downstream dealers, and trading partners to avail the Bank’s supply chain finance solutions.
“Small and medium enterprises in India often face challenges in accessing sustainable credit. We at actvy.ai, in partnership with Axis Bank, aim to leverage our technology prowess to reach MSME customers. We are certain that our digital platform, access to technology tools and affordable credit will help drive growth for this segment,” said Raghu Subramanian, Founder and Global CEO of actyv.ai.
Digital transformation is at the centre of the supply chain ecosystem, with a clear focus on enabling technology, data-driven decision-making and enhanced customer experience. This collaboration between actyv.ai and Axis Bank will help in streamlining the financial needs of MSMEs and their traders.
Speaking on the partnership, Sumit Bali, Group Executive, Head of Retail Lending and Payments, Axis Bank said, “We firmly believe that the MSME sector will play an integral role in driving the country’s economic growth towards becoming a five trillion economy over the next few years. Our partnership with actyv.ai is yet another step in providing credit solutions to a wider base of MSME and contribute to growth in their businesses.’’
Earlier this week, Kotak Mahindra Bank partnered with actyv.ai to provide financing solutions to dealers onboarded on actyv.ai. As part of the partnership, the bank said it will provide short-term finance under the ‘Buy Now, Pay Later’ category for the working capital needs of dealers.
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