Yabx and Fintech Galaxy partner to boost financial inclusion in the MENA region
Fintech Galaxy, an Open Banking and financial innovation company, has announced a strategic partnership with Yabx, a leader in alternate data-based lending and loan portfolio management for underserved segments of the population. Yabx will leverage Fintech Galaxy’s FINX Connect to enhance SME lending, collections, and customer onboarding processes to move the needle of financial inclusion.
By using Fintech Galaxy’s FINX Connect, Yabx will streamline and secure the digital lending process. Benefiting from access to real-time financial data directly from MENA banks and financial institutions through a single API, Yabx will be able to assess creditworthiness, provide more accurate lending decisions, offer personalized loan services, and speed up loan approvals.
This partnership between Yabx and Fintech Galaxy heralds a new dawn for digital lending in the MENA region, promising:
– Enhanced Access to Financial Services: The platform will make digital lending solutions more accessible and reaching those typically excluded from traditional financial systems
– Streamlined Lending: Extensive use case coverage, and proficiency in digital lending, Yabx will streamline credit assessments and speed up loan approvals, providing a more efficient lending experience.
– Optimization of Lending Processes: Optimization of lending processes will improve the recovery of outstanding debts by up to 30%, according to historical data from similar integrations.
Rajat Dayal, CEO of Yabx highlighted that, “Through this partnership, we aim to optimize our processes, enhance customer experience, and drive financial inclusion across the MENA region. Our collaboration with Fintech Galaxy is expected to give a strategic advantage to the lending programs we plan to launch in this region for unsecured retail and SME lending”.
“Our collaboration with Yabx is a testament to our commitment to driving digital transformation in the financial sector,” Mirna Sleiman (pictured), Founder and CEO of Fintech Galaxy commented. “By integrating FINX Connect into Yabx’s innovative lending solutions, we are not only enhancing the efficiency and accessibility of financial services but also contributing to the economic development of the MENA region.”
