/wholesale banking

News and resources on transaction banking, corporate banking and supply chain finance.

AND Solutions to deliver AI-based document processing and credit scoring to Equire Finance

Leading fintech company AND Global’s subsidiary, AND Solutions, has today announced a new partnership with Esquire Financing Inc., a Philippines-based non-bank financial institution that specializes in providing business loans to SMEs.

Be the first to comment

External

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.

The collaboration marks a significant step in streamlining and enhancing financial operations in the Philippines. Esquire Financing Inc. will integrate AND Solutions' AI-based intelligent document processing system, mindox, along with advanced credit scoring solutions to enhance their credit evaluation process. AND Global is a leading fintech company that has created multiple businesses to promote financial inclusion across Southeast Asia.

The platforms powered by AND Solutions will be tailored specifically to Esquire Financing Inc.’s needs. By automating document processing and leveraging advanced analytics, these tools will streamline Esquire's workflow, improve efficiency, and support more informed decision-making. The solutions will provide additional insights into loan applicants' credit risks, operating as a supplementary assessment system to Esquire's primary credit scoring process.

The partnership with Esquire Financing Inc., signifies a major milestone for AND Solutions as the company introduces its technologies into the Philippine market. With Esquire Financing Inc.'s robust presence and credibility, AND Solutions anticipates a successful expansion of its cutting-edge offerings across the country.

Figures by Statista show that the Philippines’ largest market within fintech will be Digital Assets with assets under management value of around PHP 10,8 billion ($185.3 million USD) in 2024. Research from Access Partnership shows that digital transformation in the Philippines has the potential to boost the economy significantly if fully leveraged by 2030, creating up to PHP 5 trillion ($101.3 billion USD) in economic value. This collaboration underscores AND Solutions' commitment to revolutionizing the financial services industry by leveraging cutting-edge technology to improve efficiency, accuracy, and decision-making processes. In addition, it aims to set new standards in efficiency and accuracy for the financial services industry in the Philippines.

Commenting on the new partnership, Baasandorj Davaasuren, Business owner of mindox, said: “We are excited to introduce our intelligent document processing and credit scoring solutions in the Philippines through this partnership with Esquire Financing Inc. Mindox and our credit scoring solutions have enormous potential to streamline operations and facilitate access to financial services, promoting financial inclusion and setting new industry standards. This collaboration puts AND Solutions one step closer to meeting our ultimate goal of increasing financial inclusion across Southeast Asia.”

Speaking about the collaboration, Edward Fidel C. Castillo - VP, Head of Technology at Esquire Financing Inc., added: "This partnership aligns with our commitment to leveraging innovative technologies to offer superior financial services to SMEs in the Philippines. We believe that the automation and improved analytics provided by AND Solutions will not only streamline our workflow but also support more informed and data-driven decision-making. We look forward to the positive impact this collaboration will have on our operations and customer service, setting new standards in the industry."

Sponsored [Impact Study] Payment Fraud in 2024: Who is Liable?

Comments: (0)

[Webinar] Using modern technology platforms to create an AI-driven bankFinextra Promoted[Webinar] Using modern technology platforms to create an AI-driven bank