Yabx, an Indian-owned, Netherlands-based fintech startup has announced its expansion into the Nigerian market with a mission to democratize credit across the country with its digital lending offerings.
- Yabx uses Big Data Analytics and AI/ML algorithms on large volumes of alternate data to create a detailed financial identity of customers and help banks underwrite them over Yabx Loan origination and Lifecycle Management System.
- Using this system, Yabx aims to bridge the gap between the new-to-credit segments and the banks in Nigeria at scale and introduce new age fintech products and solutions to the market.
- This customer origination and servicing can be done on various channels like the bank’s own digital banking app, USSD channel, website or even as embedded options in third-party apps.
- Yabx has partnered with several African banks to create large, scalable and profitable digital lending portfolios by leveraging its fintech platform.
- Banks in Nigeria have generally faced challenges underwriting their customers optimally, Yabx will not only help banks to widen the horizon of services they offer to their customers, but also allow them to launch new and innovative products like Buy Now Pay Later, Personal Loans, Payday loans, MSME loans etc.