Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds advised by Apax Partners, announced today that it has won the ‘Best Digital Lending and Collections Implementation Award for the Most Impactful Project’ at the 4th edition of the IBS Intelligence (IBSi) Global FinTech Innovation Awards 2022.
The award recognizes the outstanding
implementation of Azentio’s Kastle Universal Lending - Islamic solution at
FinZey Finance, a leading provider of Sharia-compliant financing solutions in
the Kingdom of Saudi Arabia (KSA).
Nikhil Gokhale, Head of Research at IBS
Intelligence, said, “Azentio’s Kastle Digital provided FinZey Finance with a
single solution for both web portal and mobile channels, thus providing a
common UI, user experience, and multilingual support.
Moreover, it solved the company’s
requirements for a digital solution for customer onboarding, end-to-end loan
processing and customer service with online payment options. Congratulations to
Azentio for their well-deserved win in the category ‘Best Digital Lending and
Collections Implementation: Most Impactful Project’.”
The IBSi Global FinTech Innovation Awards
identify and honour technology players, banks and financial institutions for
their excellence in driving impact through technology implementations and
innovations using emerging technologies. The current edition of the awards
program saw 151 nominations from 47 countries.
Azentio’s implementation made the cut at
the IBSi awards primarily for an outcome-driven deployment, helping FinZey
Finance centralize operations, automate core processes, integrate multiple
service providers (including the payment gateway); in addition to accelerating
speed-to-market, enhancing process efficiencies and delivering superior customer
experiences.
Primarily, a technology solution for retail
Tawarruq financing, Azentio’s FinZey Finance project also covered a range of
other value additions, such as interfaces with Saudi National Digital Identity
(Nafath), SIMAH enquiry & data reporting, the Nafith platform, Emdha
digital signature, and Tahaqiq mobile verification.
The project also included Azentio’s Amlock
financial crime detection and management solution, and internet and mobile
platforms for customer onboarding, among others.
Tony Kinnear, Chief Executive Officer of
Azentio, commented, “It is an honour for Azentio to win the ‘Best Digital
Lending and Collections Implementation Award for the Most Impactful Project’
from a globally reputed organization like IBS Intelligence.
This award is a testament to our focus on
ensuring that our full suite of Islamic banking solutions enhance our clients’
processes and productivity, while guaranteeing product and service innovation
in Islamic finance with AAOIFI-certified products.”
It is worthy to note here that Azentio
Software had achieved high rankings across multiple categories in the IBSi
Sales League Table (SLT) Report 2022, securing the topmost positions at the
IBSi SLT Industry Leader Special Awards in two categories, namely, Credit
Scoring and Domestic Leader | ASEAN.
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