Fintech
Fintech Galaxy collaborates with Yabx
Fintech galaxy revealed a strategic collaboration with Yabxa company specializing in data-driven alternative lending and loan portfolio management.
Through this partnership, Yabx aims to leverage Fintech Galaxy’s FINX Connect to improve lending, collection and customer onboarding processes to SMEs, thereby promoting financial inclusion efforts. Using Fintech Galaxy’s FINX Connect, Yabx seeks to simplify and strengthen the digital lending process. By accessing real-time financial data directly from MENA banks and financial institutions via a single API, Yabx aims to improve the accuracy of credit assessment, offer personalized lending services and speed up loan approval.
This collaboration between Yabx and Fintech Galaxy aims to reshape digital lending in the MENA region. Expected outcomes include improved access to financial services for traditionally marginalized individuals, streamlined lending processes resulting in more efficient credit assessments and accelerated loan approvals, as well as streamlining lending operations.
In the official press release, Yabx representatives highlighted the partnership’s goals of process optimization, improved customer experience and promoting financial inclusion in the MENA region. Fintech Galaxy officials highlighted the importance of collaboration in driving digital transformation in the financial sector, highlighting the positive impact on service efficiency, accessibility and economic development in the region.
More information on the two companies
Yabx, known for supporting credit accessibility in emerging markets through its cloud-based lending platform, uses digital fingerprinting, artificial intelligence and diverse data partnerships to provide personalized credit scores and limits to underserved individuals and businesses, promoting the financial inclusion in a responsible way.
In December 2023, Yabx has collaborated with Clickatell to launch WhatsApp lending services in Africa. Through this collaboration, Yabx aimed to democratize access to financial services and enable customers to obtain credit in real time. Clickatell had previously entered into a number of partnerships in South Africa to enable mobile messaging payments via WhatsApp, which has resulted in increased usage of the app in Africa. Yabx selected it as a partner to leverage its messaging platform, which provided the functionality needed for high-volume services and campaigns on WhatsApp.
As for Fintech Galaxy, it operates as a regional financial innovation company with the vision of redefining financial services. Through its FINX platform, Fintech Galaxy offers a reliable and secure Open Banking and Embedded Finance infrastructure, facilitating integration between industry players such as banks, fintechs and merchants. Regulated by the Central Bank of Bahrain and compliant with ISO/IEC 27001:2022 and SOC 2 Type 2 for information and data security, Fintech Galaxy is committed to promoting financial inclusion in various markets.