Mastercard partners with CredibleX to enable SMEs to access better financing

Mastercard announced its collaboration with CredibleX to integrate its Small Business Credit Analytics (SBCA) platform into CredibleX’s integrated financing offering. This first-of-its-kind collaboration in the region is an innovative step that enables CredibleX to leverage advanced analytical insights based on aggregated and anonymized transaction data. The collaboration aims to empower small and medium-sized enterprises (SMEs) by facilitating and improving their access to finance.

Developed by Mastercard, SBCA technology is an advanced tool that provides lenders with accurate financial insights based on real data, with customer approval, to evaluate the financial performance and sales of small businesses. These metrics help improve the financial performance evaluation process for businesses, enabling CredibleX to make more accurate lending decisions, reduce credit verification time, and enhance risk management.

The impact of this collaboration goes beyond simply improving access to finance; it contributes to enhancing financial inclusion for small and medium-sized enterprises (SMEs) in the UAE. Many of these companies face difficulties in obtaining traditional financing due to limited credit history or lack of official documentation . Through the SBCA indicators, CredibleX can conduct a more comprehensive assessment of a business’s financial health, helping SMEs secure better loan terms and access greater financing. This initiative enhances the growth opportunities for these companies, contributing to the diversification of the UAE economy and consolidating the country’s position as a hub for innovation and entrepreneurship.

“Our collaboration with CredibleX reflects Mastercard’s commitment to supporting the SME ecosystem in the UAE, ” said Selin Bahaderli, Executive Vice President, Services, Eastern Europe, Middle East, and Africa , Mastercard. “The SBCA platform is a game changer, providing unprecedented insights into the performance of these businesses. Together, we are enabling them to access financing more easily, secure better loan terms, and seize greater growth opportunities.”

For his part, Hassan Reda, Co-Founder and Chief Product Officer of CredibleX, said: “ This collaboration represents our shared vision to advance financial inclusion and innovation. By combining CredibleX’s lending expertise with Mastercard’s advanced analytical capabilities, we are setting a new standard for data-driven SME financing in the region .”

Source: Mastercard