AJIL Financial Services Company (AJIL), a prominent financing company in Saudi Arabia, has entered into a partnership with Newgen Software, a global leader in AI-enabled digital transformation solutions, in order to digitalize its financing operations.
As AJIL’s digital transformation partner, Newgen will provide its flagship Low-Code Platform and Shariah-compliant financing solutions to streamline its offerings, including Murabaha, Ijarah, and other financing products to accelerate AJIL’s underwriting processes, and operational journeys and to improve customers’ experience and satisfaction.
This collaboration aligns with AJIL’s commitment to Vision 2030 and its goal of scaling and modernizing its operations to meet evolving market demands while delivering superior customer experience. AJIL is licensed by the Saudi Central Bank (SAMA) and specializes in Shariah-compliant financing for SMEs across the Kingdom.
Matar Al-Khateeb, CEO of AJIL Financial Services Company, said that, “With the strategic focus on leveraging advanced technologies like Newgen software and data-driven insights, we are committed to streamlining our operations and offering innovative solutions that resonate with the evolving needs of our customers.”
“This transformative approach will not only enable us to fortify our market reach but also bolster our presence through integrations with fintech channels, thereby deepening our engagement with existing customers and expanding our footprint in new markets. We are committed to Vision 2030 and strongly believe in the role of SMEs in the Kingdom’s development. We are looking forward to continuing to enable SMEs to grow and contribute to the Kingdom’s economy’s growth,” Al-Khateeb added.
Commenting on the partnership, Vivek Bhatnagar, SVP-EMEA Sales, Newgen Software, noted that, “Newgen’s extensive expertise in deep process automation will modernize AJIL’s operations, including loan origination and collection functions. We are committed to providing pathbreaking solutions to global customers, with our focus on creating digital-first banking journeys.”
