In a groundbreaking move, the Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME) has joined forces with Chi-X Digital Assets & Market (CXDA), a leading AI-based fintech platform. Backed by JC Flowers & Co, a global private equity firm with $7 billion in assets under management, CXDA is set to transform the SME sector in Dubai by providing innovative financial solutions.

Unleashing the Power of AI in SME Finance:
For the first time in the region, this collaboration introduces the use of AI to equip SMEs with cutting-edge financial solutions. The strategic partnership emphasizes key elements such as financial awareness, building business capacity, and attracting global investment into Dubai’s SME industry.

CXDA’s Mission and Vision:
Thierry Porte, Chairman and CEO of CXDA, shares the company’s mission to unleash the massive potential of the SME sector. The platform offers innovation, strong governance infrastructure, and an ESG-friendly solution, aiming to bring down barriers and make a lasting difference in Dubai’s SME landscape.

The CXDA platform, offers a commitment to revolutionizing the SME finance landscape based on several foundational elements: 

1. Information and Transparency: A Key Driver for Attracting Liquidity in this Sector

  • Building Standardized Asset Information for SMEs: CXDA prioritizes creating a unified and standardized repository of asset information tailored for SMEs. This initiative enhances transparency, providing a solid foundation to attract liquidity into the sector.
  • Building Historical Track Record of Successful Loan Repayments: By meticulously documenting and showcasing a track record of successful loan repayments, CXDA establishes the credibility and reliability of SMEs. This perspective instills confidence among investors, fostering a conducive environment for financial growth.

2. Seamless Onboarding: Guided Support for Effortless Navigation

  • Dedicated Customer Care for Fast-Track Loan Applications: With a commitment to efficiency, CXDA’s dedicated customer care facilitates swift management of loan applications. This personalized approach expedites the overall process, ensuring a seamless and accelerated experience for SMEs.
  • Intuitive User Experience and Streamlined Processes: CXDA’s platform is designed for an intuitive user experience, featuring streamlined processes. This focus on usability enhances the overall efficiency of financial interactions, making the platform accessible and user-friendly for SMEs.

3. Swift Decision-Making with AI: Real-Time Empowerment

  • State-of-the-Art AI-Driven Credit Assessment: CXDA employs cutting-edge artificial intelligence through Prime Dash for credit assessment. This advanced technology ensures an accurate evaluation of creditworthiness, setting a new standard in financial analysis for SMEs.
  • Credit Scoring and Financial Analysis at Your Fingertips: CXDA’s integration with Prime Dash enables SMEs to access credit scores and detailed financial analyses within minutes. This instant accessibility empowers businesses with timely insights, facilitating informed decision-making in real-time.

4. Strengthening Financial Health: Assessing and Building Capacity

  • Full Analysis of Company’s Financial Health: CXDA conducts a comprehensive analysis of a company’s financial health, laying the groundwork for future growth. This in-depth examination provides valuable insights that businesses can leverage to strategize and optimize their financial trajectory.
  • Empowering Financial Awareness and Access to Tools: Beyond analysis, CXDA is dedicated to empowering SMEs with heightened financial awareness. The platform also offers access to a suite of business support tools, equipping companies with the resources needed to navigate challenges and seize opportunities in their financial journey.

With the partnership between CXDA and Dubai SME, a new era of liquidity and growth is set to unfold in Dubai’s SME sector. The collaboration aligns with the vision of reshaping and revolutionizing the economy, fostering innovation, diversification, and sustainable expansion. As Dubai strives to strengthen its status as a global economic force, this partnership marks a significant step towards realizing the objectives outlined in the Dubai Economic Agenda (D33)