Fintech Galaxy agrees strategic partnership with Yabx
Open Banking and financial innovation company, Fintech Galaxy, has agreed a strategic partnership with Yabx. The collaboration targets initial improvements in UAE, Saudi Arabia, Jordan, and Bahrain with future expansion plans for North Africa.
Yabx will leverage Fintech Galaxy’s FINX Connect to enhance SME lending, collections, and customer onboarding processes. The overall aim is 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 personalised loan services, and speed up loan approvals.
Yabx and Fintech Galaxy partnership key features
- 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. With 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.
- Optimisation of Lending Processes. According to the companies, they will improve the recovery of outstanding debts by up to 30%, according to historical data from similar integrations
Rajat Dayal, CEO of Yabx said: “Through this partnership, we aim to optimise our processes. It will 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 programmes 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, founder and CEO of Fintech Galaxy added: “By integrating FINX Connect into Yabx’s innovative lending solutions, we are not only enhancing the efficiency and accessibility of financial services. We are also contributing to the economic development of the MENA region.”
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