Unlocking SME Growth: Magnati and RAKBANK's Innovative Merchant Financing Platform

In a strategic move to empower small and medium-sized enterprises (SMEs) in the UAE, Middle East-based payment solutions provider Magnati has entered into a groundbreaking agreement with RAKBANK. The collaboration aims to introduce a cutting-edge merchant financing platform that will revolutionize the way SMEs access credit and manage their financial needs.

Empowering SMEs: A Transformative Partnership

Streamlining the Loan Application Process

The partnership between Magnati and RAKBANK is poised to simplify the loan application process for merchants leveraging Magnati's payment solutions. By utilizing real-time point-of-sale (POS) transaction data, the platform will translate this information into decision metrics, enabling RAKBANK to make more informed and accelerated underwriting decisions. This streamlined approach will allow SME merchants to access credit facilities more efficiently, optimizing their cash flow management and supporting their long-term business sustainability.

Diversified Financial Services for SMEs

The Magnati-RAKBANK platform is designed to provide a comprehensive suite of financial services tailored to the needs of SMEs. These services include business loans, invoice financing, equipment financing, POS financing, receivable financing, and insurance. By offering this diverse range of solutions, the platform aims to cater to the varied financial requirements and preferences of small and medium-sized enterprises, empowering them to scale their operations and achieve their growth objectives.

Leveraging Real-Time Data for Informed Lending Decisions

Recognizing the importance of data-driven decision-making, the strategic partnership between Magnati and RAKBANK leverages real-time merchant financial insights to enhance the underwriting process. RAKBANK, with its expertise in SME lending, plans to utilize the platform's real-time data to make more effective and accurate lending decisions. This data-driven approach will enable faster credit access for SMEs, ultimately supporting their long-term business growth and sustainability.

Empowering the UAE's Entrepreneurial Ecosystem

The collaboration between Magnati and RAKBANK is a testament to their commitment to fostering the growth and development of the UAE's entrepreneurial sector. By providing SMEs with access to tailored financial solutions and streamlining the credit application process, the platform aims to remove barriers to funding and empower businesses to scale their operations. This strategic partnership is poised to have a transformative impact on the UAE's small and medium-sized enterprises, enabling them to thrive and contribute to the country's economic prosperity.

Expanding the Digital Asset Landscape

The current announcement follows RAKBANK's recent partnership with Bitpanda, where the two organizations worked together to offer a platform that allows UAE residents to manage digital assets. This move aligns with RAKBANK's objective of providing customized and enhanced financial solutions that support businesses in their growth trajectory, including exploring emerging technologies and digital asset use cases.

A Shared Vision for SME Success

The strategic agreement between Magnati and RAKBANK underscores their shared vision of empowering small and medium-sized enterprises in the UAE. By leveraging their respective strengths and expertise, the two organizations are committed to improving the financial landscape for SMEs and assisting them in scaling their operations. This collaborative effort aims to unlock new opportunities for businesses, enabling them to thrive and contribute to the country's economic growth and development.