Singapore, June 16, 2023 //
Embedded finance firm, Opnfi and actyv.ai, an AI-powered enterprise SaaS platform with embedded B2B BNPL and insurance, announced today a strategic partnership to bring B2B Embedded Finance (EmFi) solutions for businesses in high-growth potential markets in South Asia, ASEAN, the Middle East and Africa.
Opnfi’s B2B EmFi platform will facilitate orchestration between enterprise customers and financial services institutions. This platform will allow actyv.ai to develop innovative embedded finance solutions tailored to specific needs of their corporate clients in one centralised platform. At the heart of this is a digital transaction network whose core ingredients are artificial intelligence-based discovery, algorithmic credit processing and open API-based payment systems.
Amit Sharma, Managing Partner at Opnfi said, “Our strategic partnership with actyv.ai enhances our EmFi proposition and commitment to be a leading orchestrator of embedded financial services throughout the region. Our EmFi platform capabilities will enable actyv.ai to support a number of different use cases covering the entire spectrum of supply-side financing, ops-side financing and sales-side financing. More importantly, we will be able to unlock value for the millions of intermediaries and retail distributors who power supply chains right down to the smallest retailer.”
Embedded finance is becoming more important, not just for the financial services industry, but to the wider economy. Embedded finance accounted for $2.6 trillion of total US financial transactions in 2021 by placing a financial product in a non-financial business process, customer journey or e-commerce platform.
Its total value shall exceed $7 trillion globally by 2026 as per Bain & Co; with the biggest and fastest growing geographies for B2B embedded finance in the global south region are India, ASEAN and GCC countries. According to the banking industry, the total trade in ASEAN is worth $2.5 trillion.
Raghunath Subramanian, Founder and CEO at actyv.ai shared, “Our partnership will transform financial services in the South Asia, ASEAN & MEA markets, driving economic growth, financial inclusion, and entrepreneurship. By combining our expertise, we will democratise access to finance, empowering businesses with embedded finance capabilities.”
Opnfi is an Embedded Finance (EmFi) rail for Global South communities, bringing sources of funds and opportunities for growth closer to consumers and businesses via an open API based architecture and a full stack of services. Opnfi APIs expose core financial capabilities in a modular and flexible way to enable innovative, seamless, differentiated and highly personalised embedded finance solutions. The Opnfi team has spent decades building and launching financial services, payment processing platforms and banking transformation programmes. We embed into our partners as essential infrastructure to make transactions flow smoothly and deliver value to all parties in the payment value chain.
actyv.ai is an AI-powered enterprise SaaS platform with embedded B2B Buy Now Pay Later (BNPL) and insurance, transforming the global B2B supply chain by making business transactions faster and easier. Through its partnerships with financial institutions, actyv.ai enables enterprises, suppliers, distributors and retailers to grow. actyvGo, actyvScore, actyvPayLater, actyvInsure and actyvInvest are the various product categories on the platform.
For media enquiries, please contact:
MM Communications on behalf of Opnfi
+65 9631 1670
+91 9899 11 5376
Singapore and Manila, Philippines November 02, 2022 //
PCHC, or Philippine Clearing House Corporation, is one of the Philippines’ leading payment systems operators that serves as the clearing and settlement gateway of the country. It is a trailblazer in innovations and payments with the aim of making life better for Filipinos. On the occasion of the 2022 Singapore Fintech Festival, the company is pleased to share some details about the PCHC PayGate Application and Checkout services in partnership with Singapore-based Opnfi. These two services, forming part of the PCHC PayGate ecosystem, will enable billers, merchants and institutions to provide more choices to consumers and reduce transaction costs while improving their margins.
Providing a choice for consumers at the point of payment remains key. Bringing the bank account to be the source of funds to pay would unlock considerable value for the economy. For decades, policymakers and the banking industry have put in considerable efforts to increase the banked population in the Philippines. Today, this is showing very real and impressive growth results. It is time to proceed to the next level in inclusive financial services, where billers and institutions are able to accept payment by bank account through a few simple steps. This makes banking more productive giving support to monetary authorities’ goal on financial inclusion.
Making this announcement, Mr Emmanuel Barcena, CEO of the Philippine Clearing House Corporation said – “For decades, PCHC has played the vital role of clearing payment transactions in the Philippines. We recognize the need for making payments to billers, merchants and institutions, more efficient, so that people and institutions could realize cost and time savings. With the PCHC PayGate Hub being central to direct-to-account transactions, we decided to take the next logical step of launching the PCHC PayGate Application and Checkout Services. Opnfi is our FinTech partner in making this a reality. While consumers and billers alike have many different payment options, we offer a single window of payment for all, for a timely clearing and settlement of funds. The user experience makes transactions as easy as a few clicks or through a QR scan. The service is meant to address high volumes of transactions with a wide variety of billers and payment events. More and more people are using digital means to transact. I am glad to say that while there will be many discussions this week on Banking-As-A-Service and embedded payments, we are executing on the promise. We are confident of the future as we continue to build it.”
Opnfi works to remove the persisting friction of high cost and long pay-out cycles for merchants in the Global South. It operates in partnership with financial service institutionsand payment infrastructure providers to transform checkout. Echoing Mr. Barcena’s sentiments, the executive team of Opnfi had these additional comments-“We are privileged to play a small part in contributing to the mission of PCHC. We are committed to supporting PCHC for the long term. Our long experience in anticipating waves of innovation, and riding those to unlock value across sectors in the economy, has prepared us well for this.
Philippine Clearing House Corporation (PCHC) was incorporated in July 1977, as a private corporation co-equally owned by all commercial banks enlisted as members of the Bankers Association of the Philippines (BAP). PCHC commenced its LIVE operations on June 06, 1980 and stood proud as being the FIRST Automated MICR Cheque Clearing House in Southeast Asia.
Today, PCHC provides cheque image clearing system (CICS) for the banking industry covering sixty-nine (69) geographical regions processing a daily average of about 500,000 clearing items from more than 9,000 participating branches of banks nationwide. Fulfilling the corporate status as exclusive check clearing service provider for the country fittingly highlights PCHC’s operational existence. Aside from CICS, PCHC also provides electronicpayments clearing services. These include PESONet (Philippine EFT Systems Operational Network), PDDTS (Philippine Domestic Dollar Transfer System) Realty Time Gross Settlement, Payment vs Payment (PvP), Payment Application Secure (PAS) and the PCHC Payment Gateway (PCHC PayGate).
For more information about PCHC, please visit: www.pchc.com.ph
For more details, please contact the following:-
Philippine Payment Clearing House Corporation
11th Floor Sagittarius Bldg.,
111 H.V. Dela Costa Street
Salcedo Village, Makati City, Philippines.
OPNFI is an Embedded Finance (EmFi) rail for Global South communities, bringing sources of funds and opportunities for growth closer to consumers and businesses via an open API based architecture and a full stack of services. OPNFI APIs expose core financial capabilities in a modular and flexible way to enable innovative, seamless, differentiated and highly personalised embedded finance solutions. The Opnfi team has spent decades building and launching financial services, payment processing platforms and banking transformation programmes. We embed into our partners as essential infrastructure to make transactions flow smoothly and deliver value to all parties in the payment value chain.
For media enquiries, please contact:
MM Communications on behalf of Opnfi
+65 9631 1670