Following this announcement, the companies will focus on providing small and medium-sized enterprise (SME) lenders with scoring and risk assessment services. Visa is set to introduce Uplinq to key financial institutions in order to deliver its API technology. This was designed to improve the manner in which lenders mitigate risk and threads while expanding access to fair credit to small company owners throughout the US and Canada at the same time.
Uplinq will continue to provide its services in order to enable firms to better understand the entire ecosystem and industry before making a lending decision, as well as to meet the needs, preferences, and demands of their customers and clients.
American multinational financial services corporation Visa had multiple collaborations and launches in the last couple of months, covering several different geographies around the world.
In August 2023, Islamic banking solutions aiBANK announced its strategic deal with Visa in order to offer clients and users from Egypt an integrated package of e-payment tools. Following this partnership, the companies focused on providing a comprehensive range of secure and efficient products and solutions adapted to several modern digital payment preferences.
aiBANK’s plan was set on promoting financial inclusivity, as well as accelerating the adoption of digital payments and transactions while following the directives and requirements of the Central Bank of Egypt and the Financial Regulatory Authority. Furthermore, while providing services lined up with the latest trends in the industry, the financial institutions aimed to promote the adoption of electronic payment methods across all segments of the market.
Earlier in the same month, Visa partnered with UAE-based NymCard to deliver a plug-and-play end-to-end issuance platform, which was set to be a part of its Ready to Launch program. The VRTL program was designed by the firm in order to offer fintech and non-banking entities a seamless experience during the process of issuing payment products.
In addition, the fintech enablement program was made available in the Gulf Cooperation Council and the North Africa, Levant, and Pakistan regions, and it was projected to be expanded to the Middle East, Africa, and Central Europe as well. Visa’s product focused on improving client onboarding processes for financial solutions by moving from the current approach of manual selection to a new, One-and-Dine approach. This was made with pre-developed bundles of in-house and outsourced tools and services. The bundled products included card issuance, multicurrency, gift cards, as well as BNPL.
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