{"id":557864,"date":"2024-04-29T08:41:36","date_gmt":"2024-04-29T07:41:36","guid":{"rendered":"https:\/\/ibsintelligence.com\/?post_type=ibsi_news&p=557864"},"modified":"2024-04-29T08:41:36","modified_gmt":"2024-04-29T07:41:36","slug":"paynearby-myshubhlife-to-boost-msmes-access-to-revolving-credit","status":"publish","type":"ibsi_news","link":"https:\/\/ibsintelligence.com\/ibsi-news\/paynearby-myshubhlife-to-boost-msmes-access-to-revolving-credit\/","title":{"rendered":"PayNearby & MyShubhLife to boost MSME\u2019s access to revolving credit"},"content":{"rendered":"

\"PayNearby,PayNearby, India’s branchless banking and digital network<\/a>, has announced a partnership with MyShubhLife, an embedded credit platform<\/a>.<\/p>\n

This collaboration aims to provide its distributors with easy access to revolving credit lines<\/a>, enhancing financial agility in the MSME sector.<\/p>\n

This partnership comes at a time when there is a growing demand for digital financial services among MSME distributors, particularly in underserved and remote areas. By leveraging innovation and technology, both companies are poised to meet evolving needs and drive financial progression at scale.<\/p>\n

MyShubhLife’s technology platform, powered by advanced analytics, AI, and machine learning from its Datasciences Centre of Excellence (CoE), enables the scoring of thin credit files and facilitates simple micro-lending experiences for customers. This enables them to secure loans seamlessly, based on PayNearby\u2019s bharosa score parameters.<\/p>\n

Anand Kumar Bajaj, Founder, MD & CEO of PayNearby,<\/strong> said, “We aim to provide our distributors with enhanced access to revolving credit lines, enabling them to secure better-working capital and drive growth in their businesses. This partnership underscores our commitment to empowering our distributors with the financial tools they need to thrive in today’s dynamic market. By leveraging innovative solutions and technology, we strive to address the evolving requirements of our distributors and provide financial access. Together, we are dedicated to creating a lasting impact and fostering economic growth across the country.”<\/p>\n

Monish Anand, CEO and Founder, MyShubhLife<\/strong> shared, \u201cThe company has always focused on building a solid data-science-based platform to help speed up financial inclusion, with a special focus on the underserved MSME merchants across the country. The MSME segment in India is still largely ignored by traditional banks and financial institutions due to issues such as a lack of documentation and poor or no credit history. As an organisation, our focus has always been on the underserved and unserved segments. Our sophisticated embedded credit platform offers several advantages to the end customer. This strategic collaboration will help us achieve our shared goal of boosting the accessibility of credit and creating financial agility in the MSME space.\u201d<\/p>\n","protected":false},"author":35800,"featured_media":516231,"parent":0,"template":"","categories":[11379,35279],"tags":[12005,22699,38369,35898,11404,37419,12029,11521,16338,35205,13430],"class_list":["post-557864","ibsi_news","type-ibsi_news","status-publish","has-post-thumbnail","hentry","category-lending","category-loans","tag-credit-management","tag-credit-solutions","tag-fintech-partnership","tag-fintech-solutions","tag-india","tag-india-fintech-news","tag-lending","tag-loans","tag-msme","tag-myshubhlife","tag-paynearby"],"acf":[],"yoast_head":"\nPayNearby & MyShubhLife to boost MSME\u2019s access to revolving credit<\/title>\n<meta name=\"description\" content=\"PayNearby, India's branchless banking and digital network, has announced a partnership with MyShubhLife, an embedded credit platform.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ibsintelligence.com\/ibsi-news\/paynearby-myshubhlife-to-boost-msmes-access-to-revolving-credit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PayNearby & MyShubhLife to boost MSME\u2019s access to revolving credit\" \/>\n<meta property=\"og:description\" content=\"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. 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