ANEXT Bank unveils programme to improve embedded finance for SMEs

The programme is open to all e-commerce marketplaces, fintechs, amongst others.

Singapore’s ANEXT Bank is launching the ANEXT Programme for Industry Specialists with the aim of improving and scaling embedded finance for small and medium enterprises or SMEs.

The programme is open to all e-commerce marketplaces, fintech companies, and digital solutions providers who wish to participate. ANEXT Bank said that it plans to collaborate with these industry specialists to expand the breadth of service offerings for SMEs on their platforms to include digital financial services offered by ANEXT Bank.

This will allow SMEs to have a one-stop access to a more comprehensive suite of services, and to gain a consolidated view on their business such as wallet balance, loan amount and repayment status,the bank said.

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FinTech company IN Financial Technologies and Business Process Management provider Bizmann System (Bizmann) are amongst the first to take part in the programme. The two partners combined serve close to 15,000 SMEs.

ANEXT Bank has also given a preview of the ANEXT Business Loan alongside the programme’s announcement.

The business loan offers two repayment options – “pay-per-use” and “pay monthly” – available at competitive rates. SMEs can avail of the loan starting at S$5,000.