CUSTOMER STORIES
FIDELITY BANK ENHANCES ITS CORPORATE LENDING DIGITALIZATION STRATEGY
A case study of a successful ACP solution rollout in Ngeria
Background
In May 2022, Axe Finance unveiled an exciting collaboration with Fidelity Bank, one of Nigeria’s leading financial institutions, aimed at revolutionizing its Corporate Lending processes. Recognizing the need to adapt to evolving market dynamics and stay ahead in an increasingly digital landscape, Fidelity Bank made a strategic decision to embrace Axe Finance’s flagship solution, the Axe Credit Portal (ACP) software. This innovative platform promised to modernize and streamline every aspect of Fidelity Bank’s Corporate Credit lifecycle. With its robust features and user-friendly interface, ACP offered Fidelity Bank the flexibility and scalability required to meet the complex demands of modern banking.
Key Challenges
As part of Fidelity Bank’s comprehensive digitalization strategy, they sought to address the following challenges:
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Manual Processes
Fidelity Bank faced challenges with labor-intensive, manual processes in its Corporate Lending operations, leading to inefficiencies and delays.
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Legacy Systems
Outdated legacy systems and technology infrastructure posed significant limitations to Fidelity Bank's ability to adapt to changing market dynamics, innovate, and meet evolving customer expectations in the digital age.
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Need for better decision-making tools
Fidelity Bank recognized the importance of leveraging advanced analytics and data-driven insights to enhance decision-making processes across its corporate lending lifecycle.
How Axe Finance Effectively Tackled These Challenges
100
Full automation of the Corporate Lending lifecycle
250
Fidelity Bank branches
1800
ACP users at Fidelity Bank
Zero-paper credit processing
ACP streamlined Fidelity Bank’s manual processes by automating key tasks such as client onboarding, origination, and approval, among others. This automation significantly improved operational efficiency and reduced the risk of errors associated with manual data entry.
Integration expertise
ACP’s integration capabilities also allowed Fidelity Bank to seamlessly connect with CBS and other third-party systems, providing a holistic view of their Corporate Lending activity and enabling better decision-making.
Better Corporate Credit Monitoring
ACP’s advanced analytics and reporting tools provided Fidelity Bank with valuable insights into their lending operations, empowering them to make data-driven decisions and optimize their loan portfolio performance.
Testimonials
We chose Axe Finance to provide us with this robust and cost-effective solution.”
Kevin Ugwuoke, Executive Director and Chief Risk Officer at Fidelity Bank said:
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 Axe Finance, 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.
