The Egyptian Credit Bureau, iscore, and Modefinance International, a global provider of AI-driven credit rating solutions, have announced a strategic collaboration to launch a smart grading system for micro, small, and medium-sized enterprises (MSMEs) in Egypt.
The partnership agreement aims to develop and implement a new system tailored for the Egyptian market. It was signed on behalf of iscore by Mohamed Korayem, CEO and Managing Director, and for Modefinance International by Cristian Giacomini, CEO of Modefinance International.
The signing ceremony was attended by Sayonara El Asmar, Deputy CEO and Managing Director of iscore, and Mohamed ElAshmawy, Scoring & Advisory Services Director of iscore. Also present were Gianfranco Sanseverino, Deputy CEO of Modefinance International, and Mattia Ciprian and Valentino Pediroda, Co-CEOs of Modefinance.
This collaboration is intended to advance financial inclusion and support the sustainable growth of MSMEs in Egypt.
Korayem, CEO and Managing Director of iscore, commented: “We are proud to partner with Modefinance International to introduce a smart, AI-powered MSMEs Grading System that will serve as a game-changer for the Egyptian financial sector. This collaboration reflects our commitment to driving financial inclusion and empowering micro, small, and medium-sized enterprises with reliable, data-driven tools that enhance their access to finance. By combining iscore deep local market expertise with Modefinance advanced technology, MSMEs & credit risk rating strong proficiency along with management solutions, we are laying the groundwork for a more transparent, efficient, and inclusive credit ecosystem—one that supports Egypt national vision for sustainable economic growth.”
Giacomini, Modefinance International CEO, commented: “The partnership with iscore further consolidates Modefinance International’s role in Egypt, the North African region, and the entire GCC area, where we established a solid expertise. The Egyptian market is a particularly strategic business area as it is characterized by a widespread presence of micro, small and medium-sized enterprises. As a result, there is a high focus on the issue of financial inclusion and the need to benefit from advanced credit assessment systems, such as the solutions we have developed. Together with iscore, we aim at contributing to the growth of the country’s industry by facilitating local MSMEs to access credit.”
The core focus of the collaboration is the implementation of a newly developed MSME grading system, powered by Tigran, Modefinance’s proprietary credit risk assessment tool. Tigran applies AI-driven models and big data analytics to evaluate the creditworthiness of MSMEs based on their financial performance, management experience, and macroeconomic factors, aiming to enhance transparency and efficiency across the lending ecosystem. Through this partnership, iscore expects to offer more accurate and efficient credit rating services, reinforcing efforts to expand financial inclusion and promote sustainability in the financial sector.
The strategic partnership aims to foster a sustainable and inclusive financial ecosystem by reinforcing iscore’s role as a key supporter for credit decision-making for MSMEs. This aligns with Egypt’s national priorities to strengthen the SME sector, which accounted for 98% of the private sector, employed over 47 million people, and contributed approximately 43% to the national GDP in FY2023–2024. Additionally, the agreement will support the introduction of data-driven credit rating tools that are flexible and suited to local market dynamics, helping to expand financing opportunities and enable better decision-making for financial institutions.
This collaboration reflects iscore’s ongoing commitment to advancing its strategy of developing modern and effective credit assessment tools to mitigate risk within the MSME sector, which plays a critical role in Egypt’s economy. The partnership is viewed as a significant step forward in unlocking opportunities for growth, supporting economic development, and enabling smarter credit decisions across the SME landscape.
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