Maisarah Islamic Banking Services (MIBS) chooses ACP solution for its Retail & Corporate Lending Digital Transformation.
Abu Dhabi – January 2022 – axefinance, a pioneer in credit automation solutions, expands its presence in the Middle East with MIBS’s new signature.
The leading software provider axefinance is proud to announce its latest signature with Maisarah Islamic Banking Services (MIBS), the Islamic window of Bank Dhofar. MIBS is a full-service provider of a broad range of Sharia-compliant financial products and solutions in Corporate banking, Retail banking, Investment banking, and Treasury.
Aiming to be at the forefront of the lending market, MIBS decided to launch a careful selection process to move from a manual and outdated process to a fully automated credit process. The bank designated axefinance for its full-fledged Axe Credit Portal (ACP) software. The software offers a single platform to streamline Retail and Corporate business lines.
By adopting axefinance solution, MIBS can rely on a well-established leader in the Middle East region to ensure smooth, seamless, and successful digital transformation. Through ACP’s end-to-end solution, this transformation will provide the bank with a holistic view of both retail and corporate lending activities.
The automation will cover the whole credit value chain, including loan origination, risk analysis, write-ups, approval processes and delegation of authority, risk-based pricing, facility sanctioning, covenant management, and limit activation.
It will also ensure a seamless and effective omnichannel journey through mACP, the ACP mobile application dedicated to bank staff. This will allow the bank to optimize the credit turnaround time and provide competitive offerings.
Karim Rekik, the Executive Partner at axefinance, said:
” We are very excited to welcome Maisarah among our valuable customers. Now, of all time, a fully digitalized lending journey is a must for both employees and customers. We look forward to enabling MIBS with higher efficiency and performance across their Corporate & Retail lending operations thanks to our flexible and innovative ACP solution. MIBS will leverage axefinance’s connected lending platform in order to bridge operational silos, ensure compliance, and digitalize conventional paper-based processes”.
This partnership guides MIBS towards its objective of being the best Islamic bank in the region, leveraging top-notch lending technology to drive future growth.