13 million small and medium enterprises (SMEs) across developing markets struggle to access capital. Lenders in those markets struggle to lend due to the lack of business credit scoring data and infrastructure to lend efficiently.
Unlocking a potential loan capital of $8.9T USD, OPEN is a smart credit rating platform for SMEs. Using machine learning/AI, OPEN collects and analyses real-time business and financial data to help lenders expand their loan portfolio.
OPEN increases data accuracy and reduces average loan processing time from 30 days to 7 days, translating into 75% in savings. To date, OPEN has paid customers and hundreds of users.