Yabx and SimpliFi Partner to Expand Access to Credit and Card Issuance for Businesses across the MENA Region
DUBAI, UAE, June 11, 2024 /PRNewswire/ -- Yabx, a leading Lending-as-a-Service platform, has announced a strategic partnership with SimpliFi, an emerging Cards-as-a-Service (CaaS) platform for MENA and Pakistan. This collaboration aims to leverage the strengths of both companies, to enhance access to payment card services and credit in the MENA region.
Yabx is a new age lending platform focused on credit scoring for underserved segments in Africa, Asia, and Latin America. A recent Regionals winner in DIFC's Fintech World Cup 2024, Yabx is an easy-to-use, low/no code solution. It can quickly offer various loan products, including overdraft loans, SME loans, personal loans, microloans, and device financing. Committed to responsible lending, Yabx has maintained strong loan portfolios and repayment rates, promoting financial inclusion in challenging markets.
SimpliFi is a Cards-as-a-Service (CaaS) platform, offering businesses the ability to fast track the launch of their card programs. With launch-ready, one-stop shop card issuance infrastructure across the region, SimpliFi enables businesses to launch their card programs at a fraction of the cost. The platform consists of APIs, SDKs, a client portal, and end-to-end program management capabilities, and aggregates all partners required to issue cards, including Bin Sponsors.
The partnership between SimpliFi and Yabx is poised to significantly impact the financial landscape of the MENA region. By integrating SimpliFi's robust CaaS platform with Yabx's innovative lending solutions, the collaboration aims to provide enhanced financial services, including greater access to payment cards and credit to a broader audience. The mission is to provide personalized financial services by harnessing an individual's digital footprint, creating world-class innovative products through technology and analytics.
"At SimpliFi, we are committed to empowering businesses with the tools they need to succeed in the dynamic digital economy. Our partnership with Yabx represents a significant step forward in achieving this goal," said Ali Sattar, Founder and CEO, SimpliFi. "Together, we will harness the power of our combined technologies to deliver seamless, integrated financial services that enhance access to credit and drive economic growth across the MENA region."
Rajat Dayal, CEO, Yabx, added, "We're very excited to team up with SimpliFi, as this partnership will help us improve payment processes, making the experience of our lending products even better. It will further expand and boost our Embedded Lending solutions to small businesses and new customers."
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