Global digital payment and financial technology provider Ant International has launched a new digital lending service. The bettr solution represents a global digital lending service aimed at providing micro-lending to micro, small, and medium enterprises (MSMEs) in strategic markets through Embedded Finance partnerships.

The initiative seeks to address the substantial financing gap faced by MSMEs, estimated at USD 5.2 trillion annually for 65 million formal MSMEs in developing countries, according to the IFC. The service leverages advanced technologies such as AI and privacy-preserving computing to enhance the accessibility and simplicity of credit support. This approach aims to support an open and collaborative ecosystem that facilitates growth opportunities for MSMEs worldwide.

In its initial phase, bettr has launched an Embedded Finance collaboration with Asset World Corporation (AWC), an integrated lifestyle real estate group in Thailand. Through this partnership, bettr will provide digital lending services to AWC's ecosystem of micro and small businesses, starting with AWC's flagship project, 'Phenix,' set to open in June 2024. Representatives from Ant International highlighted Thailand's strategic importance in their expansion efforts, emphasising the company's commitment to supporting local businesses with digital payment solutions and now accessible financing through bettr.

Other developments from Ant International Ant International, headquartered in Singapore, focuses on powering global commerce through digital innovation, collaborating closely with partners to offer tech-driven digital payment and financial services solutions to businesses of all sizes worldwide. In June 2024, Ant International partnered with Whale Cloud for the development and global expansion of Alipay+ Wallet Tech, e-wallet, and Super App solutions. According to the official press release, this partnership was aimed at supporting more customers to build e-wallets and super apps with functionality, reliability, and stability.

The collaboration also looked to bring the benefits of financial inclusion to a wider audience worldwide. .