We’re thrilled to share that Validus has been shortlisted as one of 12 finalists in the Singapore FinTech category at this year’s Singapore FinTech Festival SFF Global FinTech Awards!

The theme for the 2022 Awards is “Embracing Digital, Charting the New Normal”. A new sustainability criteria has been included on top of the previous judging criteria of impact, practicality, interoperability, and uniqueness and creativity. 

Auto working capital loan underwriting in just one minute 

Launched in October 2021, Validus is the first in industry to use alternative data and AI to automate credit decisioning and underwriting of small business loans in just one minute, with only two documents (CBS and last 6 months’ bank statements).

Here’s how Validus is supporting small businesses with faster growth financing:

Simplicity: Just two documents to apply for a loan of up to $150k – a significant 67% reduction in the number of docs required by banks and financial institutions

Speed: Approval and disbursal within a day

Improving credit availability for underserved SMEs who are unable to qualify for financing without audited financials, business plan projections and collateral

Up to 12 winners will be selected under the four categories presented by MAS – Singapore FinTech (Singapore Founder), ASEAN FinTech, Singapore financial institution and Global. All finalists will be evaluated by an international panel comprising industry experts across multiple domains. The FinTech solutions will be judged against the following five criteria:

1. Impact: How well the solution has enabled the financial sector to respond better to the pandemic and achieve a more sustainable outcome.
2. Sustainability: Maturity of sustainability performance including companies’ sustainability ambition, level of integration for sustainability activities and companies’ ability to innovate to provide sustainability solutions.
3. Practicality: How quickly or easily can the solution be implemented to address a global disruptive event such as COVID-19.
4. Interoperability: Ability for the solution to interface with other systems.
5. Uniqueness and Creativity: Extent to which the solution differs from the status quo.

For more information about SFF Global FinTech Awards 2022 finalists, view MAS’ press release here.

Learn how our short-term working capital loan of up to $150,000 can help your business grow faster.