AI-powered commercial lending technology provider, Lama AI, is to join the Mastercard Engage Partner Program. This initiative makes it simple for partners to build, launch and grow payment solutions for Mastercard’s global network of customers and accelerate time to market for product innovation. Mastercard Engage partners contribute different components and integration capabilities to enable seamless payment experiences. Lama AI focuses on supporting banks in digitising and automating their lending practices, utilising Mastercard Instalments.

Small and medium businesses represent approximately 90% of enterprises. They contribute to over 50% of employment and serve as significant contributors to the global GDP. However, this significant segment has encountered challenges in securing financial credit lines with traditional financial institutions. Lama AI aims to bridge this gap, supporting banks and credit unions unlock the potential of this asset class.

Streamlining the entire lending process

By leveraging the power of AI, big data, and network effects, Lama says it sets a new standard for both borrowers and lenders. It streamlines the entire lending process to make it more user-friendly, efficient, and faster. The platform utilises data sources and generative AI to significantly reduce application processing time and provide high quality data for automated credit decisioning.

Lama connects to an ecosystem of partners to launch a seamless, digital first installment lending experience through Mastercard’s Instalments program. This introduces scale, flexibility, and simplicity in the commercial lending space. And it facilitates a quicker market entry for banks, lenders, and fintechs.

Unlocking the potential of AI and big data

As a qualified Engage partner, Lama AI is committed to providing financial institutions in the Mastercard network with the lending technology needed to seamlessly adapt AI-powered loan origination processes and effortlessly launch targeted campaigns through integrated APIs.

“We are delighted to be part of the Mastercard Engage Partner Program and to contribute to unlocking the potential of artificial intelligence and big data for accelerated growth,” said Omri Yacubovich, co-founder and CEO of Lama AI.

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“Our technology has already demonstrated to our bank partners that AI revolutionises business lending. From onboarding to closing, Lama AI empowers financial institutions to transform their operations. It reduces underwriting costs, enhances customer experiences, and accelerates growth winning back market share from alternative lenders.”