Leading AI-powered enterprise SaaS platform, actyv.ai, has announced a strategic partnership with Unity Small Finance Bank (Unity Bank), a digital-first bank, to provide innovative Buy Now Pay Later (BNPL) solutions for Small and Medium-sized Businesses (SMBs).
The partnership aims to leverage the technological strengths, distribution networks, and credit appetite of both companies to offer AI-driven, ring-fenced credit to a large number of SMBs, easing growth capital constraints and improving financial agility.
Unity Bank, which commenced operations in November 2021 and has rapidly built a substantial loan book and deposit base, specializes in lending solutions for SMBs through its Business Banking vertical, including Supply Chain finance. By integrating actyv.ai’s cutting-edge AI-powered platform with embedded B2B BNPL, the partnership will enable SMBs to access purpose-based, affordable, and unsecured BNPL solutions.
Commenting on the partnership, GL Kumar, Chief Business Officer – Business Banking at Unity Bank, said, “SMB customers in India have traditionally relied on conventional finance solutions, which pose challenges in accessing growth capital. Our collaboration with actyv.ai will allow us to harness a robust AI platform and offer SMBs timely access to credit, helping them overcome supply bottlenecks and funding shortages. We are confident that this partnership will enhance our ability to cater to our customers’ credit requirements and expand our reach to the broader SMB market.”
“The B2B Buy Now Pay Later system has experienced tremendous growth, and we are pioneers in this category within the B2B segment. Unity Small Finance Bank’s products are digitally integrated into our technology platform, enabling digital access and transforming the supply chain ecosystem. By offering responsible and sustainable options, our platform will enhance the financial agility and operational efficiency of all stakeholders within the ecosystem. These embedded BNPL offerings will empower businesses to thrive,” Raghu Subramanian, Founder and Global CEO of actyv.ai added.
“This strategic partnership between actyv.ai and Unity Small Finance Bank represents a significant step forward in providing SMBs with access to tailored credit solutions. By leveraging AI technology and a digitally embedded BNPL system, this collaboration aims to support SMB growth and financial stability in India’s evolving business landscape,” the statement further reads.