Global B2B supply chain management platform actyv.ai has added an embedded B2B buy now, pay later (BNPL) option and insurance to its artificial intelligence (AI)-based platform, saying this will help make business transactions faster and easier.
By linking enterprises, their business partners and financial institutions (FIs), all parts of business transactions can be orchestrated on a single platform, according to a Tuesday (Sept. 20) press release.
“Leveraging its [Software-as-a-Service (SaaS)] technology platform, actyv.ai enables easy onboarding of distributors and suppliers onto an enterprise’s network,” the company said in the release. “The company’s aim is to provide alternative means of capital to an enterprise’s channel partners, based on their financial and non-financial data.”
Among the services the platform offers are a dynamic number called actyv Score that contributes to the credit scoring and underwriting algorithms of FIs and insurance providers, a function called actyv Go that helps an enterprise manage distributors on its platform, a B2B BNPL option called actyv PayLater and a group of actyv Insure products that provide protection against business loss.
“The company is addressing the challenge of responsible and sustainable credit for [small- to medium-sized businesses (SMBs)] by enabling manageable interest rates for the supply chain,” actyv.ai said in the release. “Every document submitted by distributors on the actyv.ai platform is validated at source, aiding fraud prevention.”
As PYMNTS reported in July, the emergence and popularity of platforms are making it a bit easier for buyers and sellers to find one another, to lock in freight forwarding terms, and even use a single click to pay and request payments.
Along the way, the platform models and the emergence of application programming interfaces (APIs) — enabling a more seamless flow of information — will gather steam.
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