Mumbai, November 28, 2022: Kotak Mahindra Bank Limited (“KMBL” / “Kotak”) announced today that it will provide financing to resellers who join actyv.ai, an artificial intelligence-driven enterprise SaaS platform. KMBL will provide short-term financing under the “buy now pay later” category to meet the dealer’s working capital needs.
Sunil Daga, President and Head, Commercial Banking Assets, Kotak Mahindra Bank, said, “Small business owners often face insufficient daily capital needs. Kotak is committed to empowering small and medium business owners by helping them address their credit needs.” In partnership with actyv.ai Collaboration with technology platforms such as B2B will help us alleviate supply chain bottlenecks for technologically progressive businesses. Additionally, business owners in the B2B value chain will benefit from smooth, fast and secure funding options at attractive rates and help them meet cash for their businesses Stream Requirements*.
Raghu Subramanian, Founder and Global CEO of actyv.ai said: “Technology plays a key role in driving operational efficiency and business growth. As a category creator, actyv.ai’s AI SaaS platform and its embedded Its partner ecosystem brings tremendous value. Our partnership with Kotak Mahindra Bank to expand and simplify access is truly transformative and innovative.”
*Terms and conditions apply
About Kotak Mahindra Bank Limited
Established in 1985, Kotak Mahindra Group is one of India’s leading financial services groups. In February 2003, the group’s flagship company, Kotak Mahindra Finance Ltd. (KMFL), obtained a banking license issued by the Reserve Bank of India (RBI), becoming India’s first non-bank financial company transformed into a bank – Kotak Mahindra Bank Co., Ltd.
The bank has four strategic business segments – Personal Banking, Corporate Banking, Commercial Banking and Treasury, serving retail and corporate clients in urban and rural India. The premise of Kotak Mahindra Group’s business model is India-focused, diversified financial services. The bold vision that underscores the group’s growth is an inclusive one, offering a range of products and services designed to meet the needs of the unbanked and underbanked. As of 30 September 2022, Kotak Mahindra Bank Ltd has 1,710 branches and 2,802 ATMs across the country, with branches in GIFT City and DIFC (Dubai).
For more information, please visit the company website at https://www.kotak.com/.
About actyv.ai
actyv.ai is an AI-powered enterprise SaaS platform with embedded B2B Buy Now Pay Later (BNPL) and insurance, transforming global B2B supply chains by making business transactions faster and easier. Through partnerships with financial institutions, actyv.ai enables businesses, suppliers, distributors and retailers to grow. actyv Go, actyv Score, actyv PayLater, actyv Insure, actyv Invest, and actyv Discover are the various product categories on the platform.
For more information, please visit: https://actyv.ai/
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