The event not only celebrated the chapter's annual gathering but also marked a significant milestone as the chapter commemorated its 10th anniversary
kt network1 hour ago
Enterprises, in the past, have tried to work directly with financial institutions to unlock credit opportunity for their supply chain partners, but with little success primarily due to limited network effect.
actyv.ai — an enterprise SaaS platform with BNPL for B2B — will bring together enterprises, their channel partners and retailers and banks and other financial institutions in the UAE to improve the financial health of the supply chain.
“At actyv.ai our solution brings enterprises and financial Institutions together on one platform making credit discovery and underwriting seamless and mutually beneficial, while weeding out redundancy and inefficiency in this process. Enterprises can now avoid the subjectivity involved in the process of onboarding distributors and monitor their performance on a real-time basis. Financial institutions can make their credit decisions based on validated information. The ecosystem has further potential to unlock a long tail of value creation due to economies of scale,” said Raghunath Subramanian, Co-founder and Global CEO, actyv.ai.
According to Subramanian, enterprises and financial institutions have high stickiness to the platform if they see value in it. It is a win-win situation for everyone. BNPL transactions are recurring in nature as credit is a fundamental ongoing need in any growing business. actyv.ai is also evaluating the needs of channel partners for whom the products are available, but the market doesn't have the right structure to bring the sellers (product owners) and buyers (channel partners) to one platform. The company is therefore working towards setting up its presence in Southeast Asia with Singapore as the regional base and the UK as the base for expansion into Europe.
actyv.ai platform is sector agnostic. It has a good client mix within the FMCG sector, and also focuses on catering to sectors such as energy and construction. Its platform has been architecturally designed to be flexible to be able to customize with minimal effort. As it onboards more enterprises and banks, it will become an element of differentiation for the platform to be a true-blue SaaS.
“The entire actyv.ai platform product stack will be offered in the UAE market. The platform is completely modular, and enterprises can pick and choose whatever component they need, though the true potential is only realised when all the components of our platform are used in sync. We will be very closely evaluating the additional products apart from credit which can be offered on the platform as we grow in the region,” added Subramanian.
“The UAE is the gateway to the Mena region, and it has a vibrant talent pool that can help our international expansion in the region. The buyer side supply chain credit constraint is a pertinent business problem in the region and India. With Covid-19 further straining this ecosystem while speeding digital adoption, we want to have Dubai as the nerve centre to execute our business strategy for the entire Mena region,” he concluded.
— business@khaleejtimes.com
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