by Ferry Bayu | Sep 12, 2023 | Banking and Finance
Samunnati partners with Singapore-headquartered fintech finbots.ai to transform credit risk management using AI
finbots.ai’s credit modelling solution, creditX, will enable Samunnati to build high quality credit risk scorecards faster, accelerating growth of Agri & SME lending business & driving financial inclusion.
Samunnati, India’s largest agri
enterprises, today announced signing an agreement with Singapore-headquartered
B2B SaaS FinTech finbotsAI, to transform credit
risk management using AI.
With this, Samunnati becomes the
first Agri Enterprise in India to incorporate advanced AI-based solutions into
a key pillar of its business, supporting its mission to drive greater financial
inclusion for smallholder farmers and agri enterprises. Through this
partnership, Samunnati has become the first client of Accel-backed finbotsAI in
India.
With creditX, finbots.ai’s
AI-powered credit modelling platform, Samunnati will be able to develop high
accuracy custom credit models on demand, enabling them to scale their agri and
MSME supply chain financing business with reduced risk. Samunnati will also be
able to process new applications instantly, resulting in improved efficiency
and greater agility in operations.
Samunnati made the decision to
sign with finbotsAI after an extensive evaluation via a Proof-of-Concept using
historical data. With creditX, finbots.ai was able to reduce model development
time from 3 months to 4 days with a significant increase in predictive
accuracy, demonstrating potential upsides in revenue and operating
efficiencies.
Commenting on the partnership, Anil
Kumar SG, CEO and Co-Founder, Samunnati, said, “We believe that
innovation is the key to solve the access to finance paradox and to unlocking the potential of Indian
agri. The partnership with finbotsAI aligns perfectly with our vision of
leveraging technology to serve our customers better and contribute to the
growth of the Indian Agri.”
Sanjay Uppal, Founder & CEO, finbots.ai commented, “We are proud to make our foray into an exciting market like India
with an industry leader in Samunnati. We have seen enormous success in enabling
lenders in Southeast Asia and Africa to safely lend to new segments and
accelerate financial inclusion and are confident our transformative AI
platform, creditX, will have a similar impact in India. We are seeing creditX
become a preferred option for lenders globally, and this deal reinforces the
desire for cutting-edge technology solutions that solve legacy challenges.”
With this deal, finbots.ai’s fast
growing client base stretches to 10 countries across APAC and MEA markets while
Samunnati strengthens its credit-risk management using world-class AI-enabled
platform.
finbots.ai is an Accel Portfolio FinTech company with a mission to help lenders drive profitable lending and financial inclusion with creditX, our AI-powered platform to rapidly build high accuracy risk scorecards.
creditX is used by lenders across 4 regions, specifically Africa, Middle East, APAC and Australia, and by the full spectrum of lending companies, including digital banks, SME lenders, agri-lenders, consumer lenders and Credit Bureaus.
finbots.ai has been recognised among ‘Top 10 FinTechs in Singapore’ at the Monetary Authority of Singapore (MAS) FinTech Awards 2022. The FinTech is also part of PwC’s Partner Programme and a Featured Partner for Tata Consultancy Services.
finbots.ai is amongst one of the first FinTechs to have completed AI Verify, the world’s first AI Governance testing framework and toolkit developed by Singapore Government’s IMDA (Infocomm Media Development Authority) and PDPC (Personal Data Protection Commission).
finbots.ai is headquartered in Singapore and has offices in India (Hyderabad), the United Arab Emirates (Dubai), Indonesia (Jakarta) and Nairobi (Kenya).
For more information on finbots.ai, click here: https://www.finbots.ai/.
Suren Rastogi
M: +65 9736 8962
E: su***********@*****ts.ai
The PRactice – Farooque Shaikh
M: +91-9594777764
E: fa******@**********ce.net
by Ferry Bayu | Sep 4, 2023 | Banking and Finance
Your UnionBank Mastercard may be the key to a brand-new BMW
Union Bank of the Philippines (UnionBank) Mastercard credit cardholders, this is for you! UnionBank has teamed up with BMW for a Mastercard-exclusive raffle that is sure to enhance your credit card usage. Through this UnionBank Mastercard promo, cardholders can get a chance to drive home a brand-new 2023 BMW X1 simply by using their UnionBank Mastercard credit card!
Every P20,000 accumulated spend (from straight local or forex retail, bills payment, and installment transactions) earns five (5) raffle entries for a chance to win a brand-new 2023 BMW X1. Also, card transactions for grocery, gas, pharmacy, and utility bills have never been more rewarding, as cardholders can also win exciting eGCs through the promo’s official scratch game. Simply using their UnionBank Mastercard for every straight local or forex retail, bills payment, and installment transaction with a minimum amount spend of P200, gets cardholders an electronic scratch card for this game.
“Delighting customers at every turn is something that we at UnionBank are always very excited about, and the same can be said for BMW.” said UnionBank’s Cards and Loans Director, Vishal Kadian.
“More importantly, this collaboration is another way for the Bank to deliver a more rewarding experience when using the UnionBank Mastercard credit card, making every spend more enriching for customers.” concluded Kadian.
The promo is open to all active and existing principal UnionBank Mastercard credit cardholders who are in good credit standing. For details on how to qualify for the promo and other related information, visit www.unionbankph.com/bmw. Only successfully registered accounts will qualify.
The registration period is from August 1, 2023 to November 29, 2023, while the spend period is from August 2, 2023 to November 30, 2023. The raffle draw will be on December 12, 2023.
Keep using your UnionBank Mastercard credit card for more rewarding spends, and you could win a 2023 BMW X1!
by Penny Angeles-Tan | Jun 28, 2022 | Banking and Finance
In an effort to accelerate the digital transformation of the fishery sector, GCash, the country’s leading mobile wallet, joined forces with Rare Philippines to empower the financial capabilities of the fisherfolk community in Sipaway Island in Negros Occidental.
Rare Philippines is an international conservation organization that helps communities adopt sustainable behaviors toward their natural environment and resources.
“It is vital that we empower our local fishery sector by providing them access to digital financial services that can help them thrive and grow their livelihood in the new normal. Our partnership with Rare Philippines can help educate and provide access to local fisherfolk on relevant products and services that can make their everyday lives better,” said GCash President and CEO Martha Sazon.
GCash and Rare Philippines will introduce GCash products and services to fisherfolk and vendors on the island. These GCash products include Send Money, Pay Bills, GSave for a savings account, and GLoans for loans of up to P25,000. Aside from providing them with a safe and convenient way of sending and receiving money, these products can also help them manage their budget for monthly bills and even empower them to start saving up for their future.
“Digital technology is indeed a very important factor in accelerating the transformation of the Philippine fishery sector. We are proud to work with GCash as we aim to further contribute to the government’s capacity-building efforts and make a difference in the lives of fishers and their families,” said Rare Philippines Senior Manager for Financial and Market Inclusion Flora Belinario.
With its clear vision of “finance for all,” GCash has also been advocating equal financial opportunities for other Filipinos, such as community organizations and micro, small, and medium enterprises so they can continue to grow their businesses and serve their customers amid the pandemic.
GCash previously launched its GCash QR payment feature with the Antipolo Market Tricycle Operators and Drivers Association (AMTODA), Antipolo Sumulong College Lores Plaza Tricycle Operators and Drivers Association (ASCLP TODA), and vendors at the Pasig City Mega Market and Farmers Market in Araneta City.
“In line with GCash’s vision of financial inclusion for all Filipinos, we also hold ourselves up to the highest standards, including the environmental, social, and governance (ESG) approach. From helping other leading companies to local communities of fisherfolk, we continuously strive to make each day better for all,” said Winsley Bangit, GCash Chief Customer Officer.
With over 60 million registered users to date, GCash continues to offer innovative, accessible, and relevant financial products and services for Filipinos to make their lives easier, better, and safer.
Not yet on GCash? Simply download the GCash app for free on Google Play or the App Store. For more information, visit www.gcash.com.
About GCash
GCash (G-Xchange, Inc.) is the #1 Financial App in the Philippines. Through the GCash App, customers can easily purchase prepaid airtime; pay bills at over 1,400k partner billers; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 5M partner merchants and social sellers; cash-in and cash-out at 232k partner agent network; and get access to savings, credit, insurance and invest money all at the convenience of their smartphones. GCash is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.).
GCash was recognized by The Asian Banker (TAB) and by the IDC in 2021 for its outstanding digital financial inclusion programs impacting more than 60 million Filipinos in the country today.
by Penny Angeles-Tan | Jan 12, 2019 | Banking and Finance
Most people would agree that when it comes to credit cards, Citi has to be on the top of their most wanted list. If they had to choose one credit card to own most, I have found, would say they want a Citi credit card.
Now is a good time to apply for a Citi credit card! Go to https://tinyurl.com/citi-penny and apply for a credit card with Citi Philippines. People with successful applications will immediately receive an e-gift of P5,000 to be used at Uniqlo or no annual fees plus 10% interest back (for successful Simplicity+ Card referrals).
Citi is one of the most highly respected financial institutions in the world and as such, they have the most stringent screening process when accepting applications. After all, they want to make sure that their members actually have the capacity to pay.
* Note: the information below was lifted directly from the Citi Philippines website.
Eligibility of the card applicant:
- is at least 21 years old
- has a minimum income of:
- P180,000 per year if you have another credit card
- P250,000 per year if you have no credit card
- has an active landline or mobile phone number
- has a valid TIN, SSS, GSIS or UMID number
A deposit account with Citi is not necessary.
Required documents:
- if you have an existing principal credit card
- any government issued ID (driver’s license, SSS, UMID, passport, etc.)
- if you do not have a credit card or your existing credit card is a supplementary card
- any government issued ID (driver’s license, SSS, UMID, passport, etc.)
- proof of income (ex. payslip, income tax return (ITR))
- bank statement of your payroll account showing your one-month salary
- a signed certificate of employment
Citi has a different kind of credit card to suit your lifestyle:
Interest back cards
Citi Simplicity+ Card
This is the card for those who like to keep it simple.
- no annual fee EVER
- no late fees
- no over limit fees
- pay at least the minimum due on or before the due date and get 10% back on interest charges
If you’ve never owned a credit card before and you can’t decide which one of the many Citi cards there are you want then this is a good starting place. The Simplicity+ card is tailor-made for newbie credit card holders.
Rebate cards
Citi Cash Back Card
This is the card for those who love to save! Every time you spend you get cash back in the form of rebates that you could use to partially pay for your credit card bill or to make purchases with specific merchants as defined by Citi.
- get up to 6% rebate on supermarket purchases.
- get up to 2% rebate on your Meralco bill payments done through Citibank Online or Citi® One Bill®.
- all your other purchases automatically earn 0.20% rebate.
- save as much as P12,000 per year.
Shell Citi Card
The perfect card for car owners, especially those that gas up at Shell.
- Get up to 5% rebate on Shell fuel purchases.
- Get up to 5% rebate on toll fees (NLEX and SLEX).
- Get up to 5% rebate on auto repairs, accessories, and services nationwide.
- Save as much as P10,000 per year.
Mercury Drug Citi Card
For those who buy their medicine from Mercury Drug. This is probably the card I would recommend for people with maintenance medicine, which means they buy medicine often.
- Get up to 10% rebate on Mercury Drug purchases.
- Get up to 10% rebate on participating hospital bills.
- Get 0.25% rebate on all other purchases outside of Mercury Drug and participating hospitals.
- Enjoy free 24/7 ambulance service worth P10,000.
- Save as much as P9,600 per year.
Travel cards
Citi PremiereMiles Visa Card
Do you love to travel? Then this is the card for you!
- Earn 1 never-expiring mile for every P30 spend.
- Redeem flights and hotel stays instantly through Citi ThankYou Rewards.
- Enjoy local and international airport lounge access with your PremierMiles.
Rewards cards
Citi Prestige Card
This is the creme de la creme of all the Citi cards. This card is also good for those who love to travel.
- Unlimited 4th night free at any hotel booked through the concierge.*
- Complimentary Priority PassTM Membership for primary cardmembers with unlimited access to over 1,000 VIP airport lounges worldwide.
- Complimentary Airport Meet and Assist services and one-way luxury airport transfers for primary cardmembers at select airports, twice (2x) per the calendar year.
- 5x ThankYou points on local dining, shopping, and all foreign currency spend.
This card has special features that the other Citi cards do not have:
- desirable rewards
- Every P30 spend earns you 1 ThankYou Point.
- Earn 5x points on shopping, dining and foreign currency spend here or when you travel abroad.
- Earn relationship bonus points on your card anniversary.
- inspiring travel
- Enjoy an unlimited 4th night free stays at any hotel booked through the concierge.*
- Complimentary Priority PassTM Membership for principal cardmembers with unlimited access to over 1,000 VIP airport lounges worldwide, with four (4) guest passes per membership year.**
- Complimentary Airport Meet and Assist services and one-way airport luxury transfers for principal cardmembers at select airports, twice (2x) per the calendar year.
- exclusive access and elite servicing
- Enjoy three (3) complimentary rounds of golf each calendar year at participating golf courses.
- Access to a dedicated hotline and Global Concierge Service with in-country experts ready to assist you 24 hours a day, 7 days a week.
Citi Rewards Card
The must-have card for those who love rewards. This is the perfect travel card for people who prefer to fly via Cebu Pacific.
- Earn 1 point for every Php 30 spend.
- Get 3X points when you shop, dine or book Cebu Pacific tickets.
- Use your points to redeem free flights, hotel stays, or merchandise.
- Use your points to pay for purchases at partner merchants.
How long does approval take?
Approval usually takes 5 to 7 days but online applications are often faster.
Apply for a Citi credit card now!
Go to https://tinyurl.com/citi-penny and apply for a credit card with Citi Philippines. Do it NOW to enjoy the P5,000 e-gift. This is a limited time offer so the soonest you apply the better. 🙂
by Penny Angeles-Tan | Nov 21, 2017 | Banking and Finance
Citi Philippines recently launched its newest credit card product, dubbed Citi Simplicity+, which is touted as an industry first for the country – offering no annual fee, no late payment fees, and no over limit fees, as well as 10% back on interest charges for on-time payments. The introduction of Citi Simplicity+ responds to the needs of consumers for a card that’s well-suited for busy lifestyles, by providing a remarkable customer experience that’s simple and convenient.
Aftad Ahmed, Citi Philippines CEO
Citi Philippines CEO Aftab Ahmed said, “Citi Simplicity+ is an example of Citi’s commitment to putting our clients’ interests first while creating economic value. With Simplicity+, we simplify the client experience and make it more convenient and beneficial for our clients to undertake everyday purchases and transactions.”
Other benefits available to Citi Simplicity+ cardholders include:
- Citi PayLite for easy installment purchases,
- Click for Cash for emergency cash loans,
- Citi One Bill for hassle-free auto-debit payments, and
- a world of special privileges on shopping, travel, and dining.
Says David Stoughton, head of Credit Payment Products at Citi Philippines: “With a growing urban population in the Philippines where people are living in a much more fast-paced environment, Citi Simplicity+ offers consumers peace of mind with its simplified terms and conditions, no annual fee, no late fees, and no over-limit fees. This is extremely convenient for people who are constantly on the go, managing multiple tasks and schedules. Through Citi Simplicity+, we are also showing our appreciation to those who pay on time by giving them 10% back on interest charges.”
The Citi Simplicity brand has been rolled out previously in the US, Australia, UAE, Poland, Indonesia, Malaysia, and Thailand.
To apply for the Citi Simplicity+ Card, please visit https://www.citibank.com.ph/simplicity.
by Penny Angeles-Tan | Aug 31, 2017 | Banking and Finance
A good meal is never complete without dessert. No one can resist this delectable dish served after every hearty meal. Even better, use your Citi credit or debit card when you dine at Todd English Food Hall, POUND by Todd English, HOOK, or Sunnies Café,and satisfy your cravings with a complimentary treat after your meal!
“Each and every one of our loyal Citi cardholders deserves a sweet treat. This is actually just one way of showing how thankful we are for their loyalty,” explained David Stoughton, Citi Philippines Head of Credit Payments Products. “It’s a great way to end a lovely meal – tempting dessert with compliments from Citi Cards.”
Enjoy your complimentary dessert at Todd English Food Hall, HOOK, and Sunnies Café for a minimum bill of P1,000.
Todd English Food Hall and HOOK treats Citi cardholders to a flavored panna cotta. Or you can indulge in a delicious serving of Sunnies Café’s Funfetti, an in-house specialty made out of melt-in-your-mouth tres leches cake, whipped cream, salted caramel ice cream, and colorful birthday sprinkles.
TE Sundae from Pound by Todd English
POUND by Todd English is also serving free desserts for a minimum bill of P800. Aside from its hefty and mouth-watering burgers, POUND by Todd English also serves a delectable TE Sundae, which is made of chocolate and caramel sauces, topped with Betty White brownie cubes, OMG brownie cubes, sea salt, and vanilla ice cream. Be sure to use your Citi card in order to fully enjoy the experience!
Grab your free dessert now until September 30, 2017! Offer valid from Mondays to Fridays. Note that each Citi cardholder will only be entitled to one dessert per table. For more information, visit www.citibank.com.ph/lovetodine.
Citi Cash Back Card
Shell Citi Card
Mercury Drug Citi Card
Citi PremiereMiles Visa Card
Citi Prestige Card
Citi Rewards Card
Says David Stoughton, head of Credit Payment Products at Citi Philippines: “With a growing urban population in the Philippines where people are living in a much more fast-paced environment, Citi Simplicity+ offers consumers peace of mind with its simplified terms and conditions, no annual fee, no late fees, and no over-limit fees. This is extremely convenient for people who are constantly on the go, managing multiple tasks and schedules. Through Citi Simplicity+, we are also showing our appreciation to those who pay on time by giving them 10% back on interest charges.”
“Each and every one of our loyal Citi cardholders deserves a sweet treat. This is actually just one way of showing how thankful we are for their loyalty,” explained David Stoughton, Citi Philippines Head of Credit Payments Products. “It’s a great way to end a lovely meal – tempting dessert with compliments from Citi Cards.”
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