Lending process for SMEs seen faster with AI

According to the World Bank, access to capital is the second most cited obstacle faced by SMEs in growing their businesses in emerging markets and developing countries. In this exclusive interview with BusinessWorld, Bharath Vellore, General Manager, APAC for Provenir, discusses how access to alternative data and AI can help shorten loan application processes for SMEs to less than 24 hours from 10 or more weeks under traditional lending institutions.