Axe Finance goes live with Skye and signs up BPI and Al Rahji
Axe Finance has had a good year so far, with a few announcements in the past couple of months that put the firm increasingly on the radar across MENA and Asia.
Earlier this month, Nigeria-based Skye Bank went live with Axe Finance’s tech to automate its corporate lending, which helps it in the management of loan processing, scoring and internal rating, and collateral management.
According to the bank, the Axe Credit Portal (ACP) allows Skye to speed up loan applications and processing, as well as reduce operational risk and data loss during credit.
“After such a smooth collaboration in the corporate lending digitalisation, we’re keen to launch the second phase in order to extend ACP to retail lending as soon as planned in our transformation agenda,” says Olawoyin Babajide Alabi, acting deputy chief credit officer and ACP implementation team lead at Skye Bank.
Late last month, Philippines bank BPI announced it is implementing ACP solution to automate its loan origination for retail, SME and corporate.
BPI has total assets over $29 billion and 831 branches across the Philippines. The bank is aiming to offer a customer centric experience and multichannel access to both bank’s customers and agent network.
Lastly, also last month, Al Rajhi Bank, the world’s largest Islamic bank by total assets according to Islamic Finance, announced it had also picked ACP’s solution because of “its ability to provide a powerful end-to-end lending digitalisation including the corporate, SMEs and FIs”.
Al Rahji Bank said it had picked ACP because of its flexibility and scalability, functional coverage, proven expertise, and a successful track record in the Middle East as well as Africa and Europe.
