Riya Mala 
ThirdRoc Director Shiv Maharaj
ThirdRoc Director Shiv Maharaj says one of the biggest hurdles for small businesses is their inability to demonstrate their performance using reliable and structured data.
ThirdRoc is a FinTech company specializing in machine learning and artificial intelligence-enabled solutions, particularly for credit risk assessment.
Maharaj explains that MSMEs are often required to provide formal financial accounts when seeking loans, and they are now working with financial institutions to help them better understand the data challenges faced by small businesses.
He says they are partnering with financial institutions to develop technological systems that are accessible for both individuals and small enterprises.
“So we take a very proactive approach in how the data handling is done and FDB is, you know, basically already quite tight in how the governance works. And the control remains with the humans. I think that is what the important piece is.”
He adds that with the right digital tools, many small businesses will have a fair chance to grow and compete.
Minister for Finance Esrom Immanuel states that the government is collaborating with relevant institutions to implement digital solutions that align with the 2025–2030 digital strategy.
“And hopefully the other financial institutions will follow suit to make it easy for the people of Fiji, especially those in rural areas and those in MSME businesses.”
He says the overall aim is to make lending easier and more accessible by using technology to help banks properly assess real business performance.
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