Microsmart, a decentralised microfinance institution in Greece, has partnered with fintech company Begini to enhance credit access for micro and small businesses across the nation.
As micro, small, and medium enterprises (MSMEs) constitute 99% of Greek businesses, this collaboration addresses the persistent credit gap faced by these enterprises, said Begini.
With support from national regulatory bodies, Microsmart aimed to extend responsible credit to small businesses often sidelined by traditional banks due to inadequate credit histories. To achieve this, Microsmart integrated Begini’s psychometric credit assessment tool into its digital lending process.
This technology provides predictive credit data without requiring financial or personal records and was implemented within two working days.
Begini CEO James Hume said: “Microsmart’s leadership in microfinance made them the ideal partner for our alternative credit technology.
“Together, we’re proving that simple, behavioural insights can drive financial inclusion at scale, safely, affordably, and in days, not months.”
According to Begini, after implementation of its technology, Microsmart recorded a 90% increase in monthly lending volumes over six months and a completion rate below 95% for applicants. This reflects both the demand for and the accessibility of new financing options, said the fintech company.
Microsmart CEO Neoklis Stamkos said: “Microcredit is a modern development tool. Our work with Begini helps remove long-standing barriers to finance by combining speed with fair risk assessment.
“We are proud to help entrepreneurs across Greece turn their ambitions into action, without the friction of traditional banking.”
Begini’s technology offers financial institutions behavioural analytics that are scientifically validated and privacy-consented, facilitating credit risk assessment, fraud detection, and customer segmentation.
Earlier this month, Begini also formed a partnership with the Bank of Punjab in Pakistan to support the CM Punjab Asaan Karobar Card initiative.
This programme is Pakistan’s largest SME credit card lending initiative, designed to expand credit access in underserved markets. It operates through an end-to-end digital lending platform to empower small and micro enterprises throughout Punjab efficiently.
