Summary:
Mumbai, Maharashtra, India (NewsVoir) • Key industry players shared their insights on efficient working capital management, financing options for SMEs and integration of financial services into nonfinancial businesses" infrastructures Biz2X (a subsidiary of Biz2Credit in India) a leading Digital Lending SaaS platform that enables financial institutions to provide a customized online lending experience for their small and midsize business customers, recently hosted Frontier Digital Finance Roundtable in Mumbai.
In the Mumbai edition of the event, key industry leaders discussed the history, criticality, experience and challenges faced by industry aggregators in working capital management, SME financing options and embedded financing through their platform.
Some of the key challenges that industry aggregators face relates to limited access to needed information, lack of a coherent structure, multiple stakeholders and perspectives, time constraints, requirements of collaterals for MSME loans, insufficient financial expertise, lack of liquidity, limited access to working capital, among many others.
In light with the event, Vineet Tyagi, Global CTO at Biz2X and Biz2Credit, “For Small & Mid-Size businesses, lack of finance or loan options, credit processing time, and inadequate knowledge, can be the utmost drawback to moving forward.
So, we with Maadhyam are aiming to provide a comprehensive platform that will facilitate faster disbursement of loans among SMEs by bringing together the aggregators and lenders.
As Maadhyam is making India’s SMEs Aatmanirbhar.’’ Industry leaders such as Akshay Deshmukh, VP - Financial Product & Credit Strategy, Pharmeasy, Sangram Baviskar, Founding Member and Managing Director, Yantralive, Manish Bang, Founder, Yarnbiz, Aditya Shankar, Vice President - Vertical Head - Lending, TradeIndia, Anupama Verma, Strategic Alliance and Partnership, TradeIndia, Shruti Mehrotra, Founder and CEO, Mihuru, Rahul Jain, CFO, NTT Data Payment Services and Saurabh Agarwal, Founder, Trumac participated at the roundtable to discuss and share knowledge on important topics such as ‘Providing SMEs in your Ecosystem Credit’, ‘Lending in the New Regulatory Paradigm’ among others.
The participating companies also shed light on their plans around partnerships and collaborations.
Speaking at the event, Akshay Deshmukh, VP - Financial Product & Credit Strategy, Pharmeasy, commented, “While aggregation sounds very simple, as in you are aggregating a buyer and a seller but in different industries and in different markets, the ballgame is different altogether.
Solving the problem of credit in each of the aggregation market, is in itself a problem.
The biggest takeaway for me was how can we collaborate and partner to create an ecosystem where I can aggregate all the aggregators.