Saudi Arabia-based AJIL Financial Services Company partners with Newgen to digitalise financing operations

2025-02-03 01:30:20

(MENAFN- Shamalcomms) • Newgen’s offerings are set to accelerate AJIL’s underwriting processes and operational journeys, and improve customer experience

Newgen Software, a global leader in AI-enabled digital transformation solutions, has announced a partnership with AJIL Financial Services Company (AJIL), a prominent financing company in Saudi Arabia. As AJIL’s digital transformation partner, Newgen will provide its flagship Low-Code platform and Shariah-compliant financing solutions to streamline its offerings, including Murabaha, Ijarah, and other financing products to accelerate AJIL’s underwriting processes, operational journeys and to improve customers’ experience and satisfaction.

This collaboration aligns with AJIL’s commitment to Vision 2030 and its goal of scaling and modernising its operations to meet evolving market demands while delivering superior customer experience. AJIL is licensed by the Saudi Central Bank (SAMA) and specialises in Shariah-compliant financing for SMEs across the Kingdom.

Matar Al-Khateeb, CEO, AJIL Financial Services Company, said: “With the strategic focus on leveraging advanced technologies like Newgen software and data-driven insights, we are committed to streamlining our operations and offering innovative solutions that resonate with the evolving needs of our customers. This transformative approach will not only enable us to fortify our market reach but also bolster our presence through integrations with fintech channels, thereby deepening our engagement with existing customers and expanding our footprint in new markets.

“We are committed to Vision 2030 and strongly believe in the role of SMEs in the Kingdom's development. We are looking forward to continuing to enable SMEs to grow and contribute to the Kingdom’s economy's growth.”

Commenting on the partnership, Vivek Bhatnagar, SVP-EMEA Sales, Newgen Software, said: “Newgen's extensive expertise in deep process automation will modernise AJIL's operations, including loan origination and collection functions. We are committed to providing pathbreaking solutions to global customers, with our focus on creating digital-first banking journeys.”

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