Fintech Galaxy has disclosed a strategic collaboration with Yabx , a company specialising in alternative data-driven lending and management of loan portfolios. Through this partnership, Yabx aims to leverage Fintech Galaxy’s FINX Connect to improve its SME lending, collections, and customer onboarding processes, thereby advancing financial inclusion efforts.

Using Fintech Galaxy’s FINX Connect, Yabx seeks to streamline and fortify the digital lending process. By accessing real-time financial data directly from MENA banks and financial institutions via a single API, Yabx intends to enhance credit assessment accuracy, offer personalised loan services, and expedite loan approvals. This collaboration between Yabx and Fintech Galaxy aims to reshape digital lending in the MENA region.

The anticipated outcomes include improved access to financial services for traditionally marginalised individuals, streamlined lending processes resulting in more efficient credit assessments and accelerated loan approvals, and optimisation of lending operations. In the official press release, representatives from Yabx emphasised the partnership's objectives of process optimisation, enhanced customer experience, and fostering financial inclusion across the MENA region. Officials from Fintech Galaxy underscored the significance of the collaboration in driving digital transformation within the financial sector, stressing the positive impact on service efficiency, accessibility, and economic development in the region.

More information about the two companies Yabx, known for supporting credit accessibility in emerging markets through its cloud-based lending platform, uses digital footprints, AI, and diverse data partnerships to provide personalised credit scores and limits to underserved individuals and businesses, promoting financial inclusion responsibly. In December 2023, Yabx partnered with Clickatell to launch WhatsApp lending services in Africa. Through this collaboration, Yabx aimed to democratise access to financial services and enable customers to get credit in real-time.  Clickatell had previously closed a series of partnerships in South Africa to enable mobile messaging payments via WhatsApp, which resulted in a rise in the app’s usage in Africa.

Yabx selected it as a partner to leverage its messaging platform, which provided the necessary features for high-volume services and campaigns on WhatsApp. As for Fintech Galaxy, it operates as a regional financial innovation company with a vision to redefine financial services. Through its platform, FINX, Fintech Galaxy offers a reliable and secure Open Banking and Embedded Finance infrastructure, facilitating integration among 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 advancing financial inclusion across various markets. .