Fintech Galaxy & Yabx partner to boost financial inclusion in MENA region

By Shilpa Annie Joseph, Official Reporter
  • Follow author on
Yabx and Fintech Galaxy partnership
Rep. Image | Courtesy: Aleksandar Pasaric @ Pexels

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.

According to the statement, “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.”

Further, this partnership between Yabx and Fintech Galaxy heralds a new dawn for digital lending in the MENA region. The collaboration targets initial improvements in UAE, Saudi Arabia, Jordan, and Bahrain, with future expansion plans for North Africa.

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.”

Mirna Sleiman, Founder and CEO of Fintech Galaxy, commented that, “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.”

Trending | QIIB unveils new Visa Business Debit Card for SMEs