NEO PAY has announced its partnership with Biz2X-AI Platform in order to launch embedded SME financing for customers and clients in the UAE.
Following this announcement, this collaboration marks an important step in NEO PAY’s strategy to unlock embedded financing for small- and medium-sized enterprises (SMEs) across the region of the UAE.
In addition, through the process of integrating Biz2X’s AI-powered lending engine into NEO PAY’s merchant ecosystem, the partnership is expected to develop a marketplace for lenders and borrowers, enabling real-time credit decisioning, tailored financing, as well as accelerated loan disbursement, all directly embedded within NEO PAY’s platform.
Unlocking Embedded Finance solutions for SMEs in the UAE
According to the official press release, lenders on NEO PAY’s platform are set to gain access to a verified and rapidly expanding base of SME merchants, each with rich transaction histories that aim to optimise creditworthiness. At the same time, the integration of Biz2X’s AI technology will significantly reduce acquisition costs through the process of pre-qualifying businesses and accelerating the overall loan disbursements from weeks to days.
Furthermore, with this partnership, NEO PAY merchants will be given the possibility to benefit from an improved financing experience powered by digital onboarding, with loan approvals possible in a secure and quick way. The embedded Biz2X AI engine is set to ensure that each merchant receives financing offers tailored to their unique cash flow and sales cycle. Additionally, the repayment options were developed in order to be flexible and to align with business performance.
This partnership will accelerate NEO PAY’s strategy of driving development in Embedded Finance, as well as allowing SMEs to grow in a dynamic economic landscape. Both companies will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
