Lagos – May 2022, the industry leader in credit digitalization solutions axefinance, is proud to announce its recent partnership with Fidelity Bank to digitalize its corporate lending processes.
Fidelity Bank, a leading Nigerian bank, selected Axe Credit Portal software -ACP- to significantly improve and streamline its end-to-end Corporate credit lifecycle. The bank’s decision to partner with axefinance is part of a wider digital transformation strategy, which has included the launch of several innovative products, presently, axeCorporate Lending, a component of ACP modular software. This ground-breaking solution has been successfully implemented across all 250 Fidelity Bank branches, with more than 1800 users benefiting from fully-automated Corporate Lending processes like client onboarding, origination, rating, approval, document management, and facility sanctioning. axeCorporate lending implementation included also a seamless integration with third-party systems to provide a holistic view of all corporate lending activity.
Commenting on the rollout of the corporate lending solution, Kevin Ugwuoke, Executive Director and Chief Risk Officer at Fidelity Bank stated that:
Innovation is at the heart of Fidelity Bank’s strategic framework; the bank is constantly looking for new ways to improve its services and delight its customers. Committed to delivering the best offerings and ensuring that our Corporate Lending activities meet and exceed the highest industry standards, we chose axefinance, a leading technology partner with a well-established global footprint, to provide us with this robust and cost-effective solution to optimize our client-centric approach and differentiate our Corporate banking offer.
For his part, Ferid Knani, Senior Business Development Manager at axefinance said:
This is another successful ACP rollout confirming our position in Nigeria and the West African region as a leading specialized lending software provider. We are committed to guiding Fidelity Bank to reach best-in-class levels of growth for its corporate lending by enhancing operational efficiency, speeding up processes through very flexible administration tools (workflow engine, business rules engine), empowering better-informed credit decisions, and reaching unmatched corporate customer satisfaction.
Lending digitalization is at the forefront of the industry’s response to overcome this crucial post-pandemic recovery. With this milestone, Fidelity Bank is striking the right balance between corporate lending performance, credit risk mitigation, competitive differentiation, and compliance with ever-changing market regulations.
About Fidelity Bank
A full-fledged commercial bank operating in Nigeria with over 6.5 million customers serviced across its 250 business offices and digital banking channels. Fidelity was recently recognized as the Best SME Bank in Nigeria in 2022 by the Global Banking & Finance Awards, and has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 Business Day Banks and Other Financial Institutions (BAFI) Awards.
Founded in 2004, an international software provider focused on lending automation for financial institutions looking for an edge in productivity and customer service for each and every client segment (Retail, Commercial, SME, Corporate…) Axe Credit Portal is axefinance’s end-to-end AI-based solution for credit automation available either as a locally hosted or as a cloud-based solution. ACP users experience improved profitability, higher productivity, and increased customer satisfaction while keeping up with ever-changing compliance regulations and internal policies. axefinance counts major players among its global fast-growing customers’ database including Société Générale, OTP, ARB, ADCB, FAB, VCB, VIB, and Fidelity Bank.