SC Ventures by Standard Chartered has signed a memorandum of understanding with Microsoft to build AI and cloud solutions for small and medium enterprises in the United Arab Emirates. The collaboration aims to make digital commerce and financing more accessible to SMEs that struggle with fragmented data, manual processes, and thin credit files. Work will be led through Project Hal, an SC Ventures portfolio company that will be headquartered in the UAE as a B2B platform.
Why It Matters
SMEs account for more than 60 percent of the UAE’s non-oil GDP, yet many still face barriers to growth due to limited access to formal finance. By targeting data gaps and operational friction with AI-enabled tools, the partners aim to help businesses qualify for credit and transact with greater confidence. If executed at scale, the effort could accelerate diversification and competitiveness across the region’s SME economy.
What Project Hal Will Build
Project Hal is positioned as a born-in-AI growth platform designed for SMEs across the Gulf Cooperation Council. The platform will be conversational and agentic first, backed by a partner ecosystem intended to power cross-border trade and embedded services. Planned capabilities include customer behavior analytics, secure data sharing, and digital touchpoints that streamline onboarding, lending, and day-to-day commerce.
How The Partnership Is Structured
SC Ventures brings venture-building experience in and beyond banking, including the ability to design, launch, and scale SME-centric propositions. Microsoft contributes technology leadership in cloud and AI, along with engineering support to help Project Hal move from concept to production. Together, the teams intend to co-create scalable solutions that can be deployed first in the Middle East, with potential expansion thereafter.
Go To Market And Funding Access
The collaboration will explore routes to provide SMEs with access to e-commerce infrastructure and embedded financing at the point of need. Joint go-to-market efforts are expected to reach underserved businesses that can benefit from digital distribution and data-driven risk assessment. By integrating financing within digital workflows, the partners aim to reduce approval times and broaden eligibility for working capital.
Leadership Commentary
Alex Manson, CEO of SC Ventures, said the focus is on enabling the lifeblood of commerce, supply chains, and SMEs with easier and more efficient growth tools. He emphasized that AI-native solutions can unlock better financing by turning disparate operating data into decision-ready signals. The statement underscores SC Ventures’ long-running thesis that technology-enabled credit can widen participation without compromising on risk standards.
Microsoft’s Perspective
Rodrigo Kede Lima, President of Microsoft Asia, framed the collaboration as part of a broader commitment to help businesses of every size thrive in an AI-first world. He highlighted the role of advanced cloud and AI technologies in opening new avenues for innovation and operational resilience. The approach aligns with Microsoft’s strategy to pair hyperscale infrastructure with domain partnerships that address specific industry pain points.
Regional Context And Ambition
Starting in the UAE gives the initiative access to a sophisticated financial center and a dense base of digitally engaged SMEs. The GCC focus reflects cross-border trade corridors where standardized data sharing and embedded finance can meaningfully reduce friction. If Project Hal proves its model in the UAE, a phased rollout across neighboring markets could follow to capture network effects.
What Success Looks Like
Near-term milestones will likely include live pilots that demonstrate improvements in onboarding speed, financing access, and repayment performance. Over time, the platform’s data network should strengthen underwriting models and expand product breadth beyond working capital. Success would be measured by adoption rates, credit conversion, and the extent to which SMEs report tangible gains in revenue and efficiency.
SC Ventures and Microsoft are betting that AI-powered platforms can translate SME operating data into actionable credit and commerce outcomes. With Project Hal, they are attempting to fuse venture-building discipline with hyperscale technology to address long-standing financing gaps. Delivery now hinges on execution, partner integration, and the ability to earn trust from SMEs across the UAE and the wider GCC.