LNDDO partners with Magnati to improve access to capital for UAE SMEs
With this collaboration, Magnati will introduce automated digital credit and payment processes that make the lending application even more swift and seamless for LNDDO’s customers, so that they can do this on a smartphone or computer from the comfort of their home or office. The partnership between LNDDO and Magnati uses API integrations and automated credit underwriting algorithms to significantly shorten the loans decision process to a matter of minutes, from up to eight weeks previously.
By combining skills and expertise, Magnati and LNDDO have curated an efficient way of digitally onboarding customers and providing instant funding decisions.
Additionally, LNDDO helps smaller creditworthy businesses build up their credit history. Corporations who may not have been able to access funding in the past can receive a helping hand in the form of accessible financing and use it to further scale up and grow their companies.
LNDDO selected Magnati because of its strong focus on merchant acquiring, consumer payment solutions, government payment solutions issuer processing and acquiring processing services. The payments company services its clients through a next-generation “Payment as a Platform” that uses advanced technology, including AI, machine learning and APIs, to drive value for its customers.
LNDDO hopes to use this new partnership to try and empower more SMEs across the UAE as well as expand its reach to Egypt and Saudi Arabia by the end of the year.