Mongolia –– AND Solutions Pte. Ltd. (“AND Solutions”), a part of the AND Global Pte. Ltd. group companies, will be supplying its technological solutions to its first Australian partner Affordable Car Loans Pty. Ltd. (“ACL”) following the signing of this agreement.
AND Solutions has agreed to supply process automation solutions utilizing optical character recognition and parser technology to ACL, a financial service provider specializing in motor vehicle financing. For car loan providers, the response time on a loan application by its users is a key competitive advantage, an aspect of ACL’s business that is expected to significantly improve after integrating AND technology.
AND Solutions’ parent company AND Global closed its Series A funding round after securing investment from and launching a global open alliance with Marubeni Corporation and SBI Holdings. The Mongolia-born Singaporean startup offers “Fintech as a Service” (“FaaS”) – fintech solutions and implementation support, helping (a) financial institutions (such as banks and non-bank financial institutions) to integrate AI-powered credit scoring system, digital wallet, e-commerce, electronic payment and digital lending systems into their existing and new businesses through Open API; and (b) financial & non-financial institutions (such as telecommunication providers and retailers) to build their own digital ecosystem.
Founded: January 2020
AND Solutions Pte. Ltd. is the international expansion arm of the Singapore-registered fintech startup AND Global Pte. Ltd. The company was founded in January of 2020 and offers “Fintech as a Service” products of varying customization to clients globally, in industries including finance and telecommunications.
Affordable Car Loans is a financial service firm that provides dispute resolution, direct deposits and payment processing services to cars. As an alternative finance provider to the major banks and other car finance providers, ACL strives to treat every customer as an individual with tailored financial services that fit their individual needs.