Scienaptic AI to Host Ascendus for SMB Lending

Scienaptic AI services are now available at Ascendus. In a recent announcement, the pioneer of AI-driven credit decision platform made its integration to the Ascendus public. This integration will be boosting the credit decision making of the Ascendus and thus it can make decisions about lending loans to small and mid-size organizations in advance.

Pankaj Jain, Co-founder and President of Scienaptic, added, “Our partnership with Ascendus will further our mission to empower lenders to make AI-powered advanced loan decisioning and offer better access to credit for entrepreneurs. With credit access, these entrepreneurs, often women and people of colour can build assets, can support their families, create employment opportunities for their neighbours and strengthen their communities.”

Ascendus offers a wide range of financial products including loans and others to small and mid-size companies. It is engaged in online business lending services and in its three decades of service, it has lent more than $255 million to over 25,300 small companies across the nation.

Paul Quintero, CEO, Ascendus, stated, “The pandemic adversely impacted the personal credit scores of small business owners, which has worked against their ability to obtain capital to grow and expand during the recovery phase of the cycle. Scienaptic’s AI-powered credit decisioning platform updated our existing credit risk algorithm to reduce the emphasis on personal credit while ensuring the portfolio quality we desired. Even more, Scienaptic’s platform is expected to help us approve up to 30% more SMBs than before, which means more capital for more small business owners.”

Ascendus is looking to offer credit facilities to underprivileged sections of society. After Scienaptic AI deploys its platform of loan decisioning, Ascendus will become more able to reach into the service of small business lending. This will further enable vendors and merchandisers to access financial services that can help their companies grow.

Read: VoPay and HES Fintech forms an Alliance for Payment Technology

LQwD Joined Fintech Fast Track Program by Visa

LQwD has joined Visa’s Fintech Fast Track program. LQwD a Vancouver-based purpose-built bitcoin organization driven to create a solution that paves the outreach of the Bitcoin Lightning Network. The organization is set to make bitcoin, a mass accessible digital currency by making it ready for real-time cheap payments.

Shone Anstey, CEO, LQwD, mentioned, “This is an exciting announcement for us. Our direct relationship with Visa now gives LQwD the advantage of accessing their growing partner network, as well as experts in the payments space. It’s a big benefit.”

By joining Fintech Fast Track program of Visa, LQwD will be able to gear up its efforts of availing Bitcoin to more people through its subsidiaries, Coincurve.com and Lightning Network PAAS along with their routing nodes accessible worldwide. Visa will allow LQwD to make the best use of the outreach of its global payment network as well as security measures.

Terry Angelos, SVP and Global Head, Fintech, Visa, cited, “By joining Visa’s Fast Track program, exciting fintech companies like LQwD gain valuable access to Visa experts, technology and resources. Fast Track lets us provide new resources that rapidly growing companies need to scale with efficiency.”

LQwD Fintech, a vendor for Lightning Network Service, aims to create a strong payment framework and solutions that excel in the ratification of the global mega-trend of Bitcoin via the Lightning Network. It is intended for company-driven services where the Lightning Network can work efficiently. Integrating the Lightning Network across organizations will allow consumers access to efficient functions, exceptional transaction performance, and last, but not least, Bitcoin scaling.

LQwD’s Lightning Network is layer-two technology i.e., runs on the model of Open System Interconnection (OSI), and is apt in resolving the challenges of mass scaling Bitcoin for micro-transactions happening worldwide. Lightning Network as the name suggest paves millions of transactions every second and that is by slicing the current fees taken from users and performing real-time settlements.

Read: Collaboration of i2c and Visa in FinTech Processing

VoPay and HES Fintech forms an Alliance for Payment Technology

VoPay, a payment innovation pioneer, collaborated with HES FinTech, a European lending software merchandiser to endure HES growing loan management portfolio. The alliance is going to allow Canadian brokers to use next-gen loan technology and quick bank account payments using a single solution with multiple features, aiding brokers level up while leaving behind their competitors in a crushing lending market competition.

This alliance is going to make VoPay’s status stronger across North America as the top preference for real-time payment technology for vendors.

Ivan Kovalenko, Co-Founder and CEO, HES FinTech, added, “We are happy to start our strategic partnership with VoPay, a well-known Canadian-based provider of digital payment solutions. It allows us to offer customers fast and seamless integration to make their transactions secure and available anytime. We are excited to exchange our deep domain expertise and market insights to create a Lending Platform that is potent to take the business of our customers to a new level.”

HES is recognized for rendering easy-to-install digital lending services. The partnership will considerably allow HES Fintech to expand in the Canadian market, where a quick payment system is picking consumers’ attention.

Hamed Arbabi, CEO and Founder, VoPay, stated, “The Canadian lending landscape is going through a major transformation, from how loan applications are submitted digitally to how fast payments are distributed, lenders are looking for ways to stay ahead of the curve.  HES FinTech was a natural fit for a partnership, with their extensive expertise in the loan software industry, we can offer a combined solution that can transform the lending experience. We look forward to building the partnership with HES FinTech and seeing the benefits for our customers.”

Payment technology of VoPay added to loan management services of HES will ensure vendors can pay in real-time and that comprise quick loan amount disbursement making the entire loan process easy.

 

Read: U.S. Bank and Apex Fintech Collaborated for Real-Time Payments