Latest news with #ProfitSharePartners
Zawya
17-07-2025
- Business
- Zawya
South Africa: ProfitShare Partners calls for measurable impact standards in fintech AI
As artificial intelligence (AI) reshapes Africa's financial services landscape, South African fintech ProfitShare Partners (PSP) is calling on the industry to shift its focus from potential to proof. The company is urging fintech innovators, investors, and regulators to adopt measurable, outcome-driven benchmarks that ensure AI genuinely expands access and impact, especially for small and medium-sized enterprises (SMEs) excluded by legacy systems. Andrew Maren, CEO and founder of ProfitShare Partners (PSP) 'There is a widening gap between what AI can do and what it is actually doing to serve real businesses,' says Andrew Maren, CEO and founder of ProfitShare Partners. 'Too many solutions are optimised for hype or investor traction. It is time to ask: who is the end-user, and what problem are we really solving?' Making AI accountable to outcomes PSP's call comes as the company continues to scale its own AI-enabled funding model, which provides fast, flexible capital to SMEs with valid contracts but limited access to credit. Since 2017, ProfitShare Partners has deployed over R1.2bn to more than 90% Black-owned businesses, using AI to assess behavioural risk, verify deal readiness, and unlock capital in near real-time. 'Our AI does not predict stock trends or optimise ads. It helps us decide whether an SME with a legitimate purchase order can be trusted to deliver, and then helps us fund them in days, not months,' explains Maren. Rather than replacing human judgment, PSP uses AI to enhance operational scale, reduce bias, and increase the speed of funding decisions. But, Maren warns, too many systems are being built in isolation from the markets they aim to serve. 'AI trained on irrelevant data or designed around first-world assumptions will not solve Africa's access problem. In fact, it may reinforce it. That is why we believe in setting practical benchmarks like jobs created, businesses scaled, and contracts fulfilled. These are the metrics that matter.' Calling the fintech sector to account With AI dominating the business agenda this year, Maren says the conversation must now move beyond capability and toward credibility. 'From predictive analytics to automated decisioning, we are seeing AI embedded into nearly every fintech pitch deck. But what we are not seeing often enough are results that justify the narrative. Inclusion cannot remain a marketing term. It must be measured,' he says. PSP is calling for: - Greater transparency in how AI models assess risk and recommend funding; - Standardised reporting on how AI tools improve access, reduce exclusion, and support underserved SMEs; - A sector-wide commitment to localising data inputs and validation frameworks to reflect African market realities. 'Everyone is talking about ethics, but we need to translate that into execution. If your AI helps one SME win one contract that puts food on the table and builds a track record, that is more powerful than any abstract benchmark of potential,' adds Maren. Building trust, not just tech PSP's position aligns with a growing call in the market for trust-first innovation. The company has advocated consistently for fintech that prioritises people, purpose, and provable results over speculation and scale for its own sake. 'Our vision is simple: build the tools that help entrepreneurs succeed. Let AI be part of that but let it be judged by what it enables on the ground and not just what it promises in theory,' Maren concludes. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Zawya
18-02-2025
- Business
- Zawya
South Africa: ProfitShare Partners aligns with global AI trends to transform SME financing in SA
As artificial intelligence (AI) continues to redefine industries worldwide, fintech companies are integrating AI-powered technologies to optimise lending, enhance customer experiences, and improve risk management. ProfitShare Partners (PSP), a leading fintech firm committed to empowering SMEs, is embracing these global AI advancements and integrating them into its fintech roadmap as it develops its own AI-driven software to revolutionise SME financing in South Africa. Andrew Maren The global financial landscape is undergoing a significant transformation, with AI playing a critical role in improving financial services. Across international markets, fintech companies are leveraging AI to optimise lending decisions through predictive analytics, enabling more accurate risk assessments and tailored financing solutions. These businesses are also using AI to enhance customer experiences. For instance, AI-driven chatbots and virtual assistants streamline loan applications and financial management. Perhaps most importantly, AI can be adopted to strengthen fraud detection and risk management. By using machine learning, finance companies can detect anomalies and prevent fraudulent activities in real-time. "AI is transforming the financial sector at an unprecedented pace. As global fintechs continue to integrate AI into their operations, we see immense potential in adopting these innovations to benefit South African SMEs," says Andrew Maren, founder and CEO of ProfitShare Partners. AI-driven innovation Recognising the need to evolve with global trends, PSP is strategically aligning itself with AI-led fintech developments. The company has begun integrating AI into its roadmap, ensuring that its funding solutions remain at the forefront of technological advancements. While in the early stages of development, PSP's AI-driven software aims to reduce turnaround times for SME funding, ensuring that businesses can access capital quickly when they need it most. The solution will further enhance decision-making by using data-driven insights to provide tailored funding solutions based on real-time financial data. Furthermore, it will improve operational efficiency by automating key processes, enabling SMEs to focus on growth instead of complex financing hurdles. "We are actively embracing AI as a means to strengthen our impact on SME financing. Our goal is to develop smart, intuitive solutions that will make funding more accessible and efficient for entrepreneurs across South Africa," adds Maren. Smarter funding solutions With PSP's AI-powered platform in development, the company is positioning itself as a forward-thinking fintech innovator, ensuring SMEs are equipped with the tools they need to navigate an evolving financial landscape. By integrating AI into its fintech model, PSP is working to provide faster funding approvals, enabling SMEs to take advantage of business opportunities without unnecessary delays. As part of this, the company is pushing even more personalised financial solutions tailored to the specific needs of each business. In doing so, clients have greater access to funding with PSP able to leverage AI to assess non-traditional credit indicators. "AI has the power to level the playing field for SMEs, giving them access to the kind of financial tools that were previously only available to larger corporations. Our commitment to developing AI-driven solutions ensures that small businesses remain competitive in an increasingly digital world," concludes Maren. As AI continues to redefine fintech globally, ProfitShare Partners is laying the foundation for a smarter, more inclusive financial future for SMEs in South Africa.
