Kotak Mahindra Bank Ties up with actyv.ai to Provide Dealer Finance
- Personal Finance
- 28.11.2022 10:15 am
Kotak Mahindra Bank Limited (“KMBL”/“Kotak”) today announced that it will be providing finance to dealers onboarded on actyv.ai, an AI-powered enterprise SaaS platform. KMBL will provide short-term finance under the ‘Buy Now, Pay Later’ category for the working capital needs of dealers.
Sunil Daga, President & Head – Business Banking Assets, Kotak Mahindra Bank said, “Small business owners often face a shortfall in their everyday capital requirements. Kotak is committed to empowering small-and medium-scale business owners by helping them address their credit requirements. Partnership with a technology platform like actyv.ai helps us ease supply chain bottlenecks for businesses with technological advancements. Additionally, it would benefit business owners across the B2B value chain with smooth, quick and safe funding options on attractive interest rates, and help them meet cash flow requirements for their businesses*.
Raghu Subramanian, Founder and Global CEO, actyv.ai said, “Technology plays a pivotal role in driving operational efficiency and growth of businesses. As a category creator, actyv.ai’s AI-powered SaaS platform with its embedded offerings delivers significant value to the enterprises and their allied partner ecosystem. Our partnership with Kotak Mahindra Bank expands and simplifies access, which is truly transformative and innovative.”
About Kotak Mahindra Bank Limited
Established in 1985, Kotak Mahindra Group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received a banking licence from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank - Kotak Mahindra Bank Ltd.
The Bank has four Strategic Business Units – Consumer Banking, Corporate Banking, Commercial Banking, and Treasury, which cater to retail and corporate customers across urban and rural India. The premise of Kotak Mahindra Group’s business model has concentrated India, diversified financial services. The bold vision that underscores the Group’s growth is an inclusive one, with a host of products and services designed to address the needs of the unbanked and insufficiently banked. As on 30th September, 2022, Kotak Mahindra Bank Ltd has a national footprint of 1,710 branches and 2,802 ATMs, and branches in GIFT City and DIFC (Dubai).