Fintech Galaxy Partners With Yabx to Enhance SME Lending and Financial Inclusion Across MENA

Fintech Galaxy, the UAE-based open banking and financial innovation company, is joining forces with Yabx, a leader in alternate data-based lending and loan portfolio management for underserved segments of the population, to enhance SME lending.

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 promises to enhance access to financial services. The platform will make digital lending solutions more accessible and reach those typically excluded from traditional financial systems

It also hopes to streamline lending, by offering extensive use case coverage, and proficiency in digital lending. Ultimately, Yabx plans to streamline credit assessments and speed up loan approvals, providing a more efficient lending experience.

Rajat Dayal, CEO of Yabx, commented: “Through this partnership, we aim to optimise 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 programmes we plan to launch in this region for unsecured retail and SME lending.”

In fact, optimisation of lending processes will improve the recovery of outstanding debts by up to 30 per cent, according to historical data from similar integrations.

Mirna Sleiman, founder and CEO of Fintech Galaxy, also commented: “Our collaboration with Yabx is a testament to our commitment to driving digital transformation in the financial sector. 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.”