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Zypl Wins Ruya's Cred-AI-Bility Challenge, In Partnership With Ignyte
(MENAFN- Mid-East Info)
ruya, the UAE's pioneering digital Islamic community bank, in collaboration with Ignyte, the region's leading global digital start-up ecosystem, announces Zypl as the winner of the inaugural Cred-Ai-bility Challenge, revolutionizing credit assessment for businesses and individuals using AI.
Launched earlier this year, the challenge invited startups to develop innovative, AI-driven solutions using alternative data sources-such as mobile transaction histories, e-commerce activity, and utility records-to create fairer, more inclusive models of creditworthiness. The initiative reflects ruya's commitment to advancing ethical banking and expanding financial access for underserved communities. Following a highly competitive evaluation process, zypl was selected for its pioneering synthetic data engine, which generates“smart” edge-case examples (synthetic outliers) to train AI models. This approach enhances accuracy and stability across both classification and forecasting tasks-while maintaining full privacy compliance. “At ruya, we believe financial inclusion is a cornerstone of community empowerment. The AI-enabled Alternative Credit Scoring challenge was a step towards reshaping how creditworthiness is assessed, and we are delighted to name zypl as the winner. Their solution aligns perfectly with our vision of using innovation and ethics to build a fairer financial system,” said Christoph Koster, CEO – ruya Community Islamic bank. Hosted in partnership with Ignyte, the challenge also provided a platform for startups to collaborate with the region's financial ecosystem and showcase scalable, ethical AI solutions. It further reinforces ruya's strategy to build an innovative ecosystem by working hand-in-hand with fintechs, fostering partnerships that accelerate financial inclusion and bring responsible innovation to the market. As part of their prize, Zypl will collaborate with ruya on a proof of concept, with the potential to scale their solution further and contribute to the future of inclusive banking. “We don't just rely on the raw data banks already hold-we create additional rows of training data using our zGAN-generated synthetic data,” said Azizjon Azimi, Founder & CEO of zypl.“By simulating realistic 'what-if' scenarios-especially the rare, high-risk cases often absent from real datasets-we strengthen AI models to detect early warning signs, reduce bias, and perform more reliably in the real world.” For more information on how to start investing in virtual assets through ruya, please visit . About ruya (رويا): Headquartered in Ajman and launched in 2024, ruya (Ruya Islamic Community Bank LLC) is a fusion of innovative technology and the enduring principles of Islamic banking, designed for individuals and businesses alike. Licensed by the Central Bank of the UAE as a Specialised Bank, ruya delivers a seamless digital banking experience built on robust security and intuitive design. Guided by the pillars of fairness, transparency, and social responsibility, ruya is deeply rooted in the community supporting families, entrepreneurs and small businesses while fostering financial literacy and inclusion through open-door branches that serve as hubs of education and support.
For media inquiries: ... Website: Instagram: myruyabank LinkedIn: ruya Facebook: myruyabank YouTube: @myruyabank About Ignyte: Ignyte is part of the Dubai Digital Economy Strategy under the vision of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. It is a leading global start-up ecosystem that empowers founders. As a digital hub for innovation, investment, and entrepreneurship, it provides access to world-class mentors, investors, and over 250 exclusive perks and resources from leading corporates and industry partners. Ignyte aims to transform the start-up landscape and position the region as a global centre for innovation and business acceleration. It bridges the gap between entrepreneurs and opportunities by fostering collaborations, offering tailored programmes, and facilitating access to capital. Ignyte's mission is to empower 100,000 start-ups, connect over 5,000 investors, and unite 5,000 industry-leading mentors. Key initiatives include streamlining business setup, supporting future founders, and accelerating corporate innovation. For more details, visit
Launched earlier this year, the challenge invited startups to develop innovative, AI-driven solutions using alternative data sources-such as mobile transaction histories, e-commerce activity, and utility records-to create fairer, more inclusive models of creditworthiness. The initiative reflects ruya's commitment to advancing ethical banking and expanding financial access for underserved communities. Following a highly competitive evaluation process, zypl was selected for its pioneering synthetic data engine, which generates“smart” edge-case examples (synthetic outliers) to train AI models. This approach enhances accuracy and stability across both classification and forecasting tasks-while maintaining full privacy compliance. “At ruya, we believe financial inclusion is a cornerstone of community empowerment. The AI-enabled Alternative Credit Scoring challenge was a step towards reshaping how creditworthiness is assessed, and we are delighted to name zypl as the winner. Their solution aligns perfectly with our vision of using innovation and ethics to build a fairer financial system,” said Christoph Koster, CEO – ruya Community Islamic bank. Hosted in partnership with Ignyte, the challenge also provided a platform for startups to collaborate with the region's financial ecosystem and showcase scalable, ethical AI solutions. It further reinforces ruya's strategy to build an innovative ecosystem by working hand-in-hand with fintechs, fostering partnerships that accelerate financial inclusion and bring responsible innovation to the market. As part of their prize, Zypl will collaborate with ruya on a proof of concept, with the potential to scale their solution further and contribute to the future of inclusive banking. “We don't just rely on the raw data banks already hold-we create additional rows of training data using our zGAN-generated synthetic data,” said Azizjon Azimi, Founder & CEO of zypl.“By simulating realistic 'what-if' scenarios-especially the rare, high-risk cases often absent from real datasets-we strengthen AI models to detect early warning signs, reduce bias, and perform more reliably in the real world.” For more information on how to start investing in virtual assets through ruya, please visit . About ruya (رويا): Headquartered in Ajman and launched in 2024, ruya (Ruya Islamic Community Bank LLC) is a fusion of innovative technology and the enduring principles of Islamic banking, designed for individuals and businesses alike. Licensed by the Central Bank of the UAE as a Specialised Bank, ruya delivers a seamless digital banking experience built on robust security and intuitive design. Guided by the pillars of fairness, transparency, and social responsibility, ruya is deeply rooted in the community supporting families, entrepreneurs and small businesses while fostering financial literacy and inclusion through open-door branches that serve as hubs of education and support.
For media inquiries: ... Website: Instagram: myruyabank LinkedIn: ruya Facebook: myruyabank YouTube: @myruyabank About Ignyte: Ignyte is part of the Dubai Digital Economy Strategy under the vision of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. It is a leading global start-up ecosystem that empowers founders. As a digital hub for innovation, investment, and entrepreneurship, it provides access to world-class mentors, investors, and over 250 exclusive perks and resources from leading corporates and industry partners. Ignyte aims to transform the start-up landscape and position the region as a global centre for innovation and business acceleration. It bridges the gap between entrepreneurs and opportunities by fostering collaborations, offering tailored programmes, and facilitating access to capital. Ignyte's mission is to empower 100,000 start-ups, connect over 5,000 investors, and unite 5,000 industry-leading mentors. Key initiatives include streamlining business setup, supporting future founders, and accelerating corporate innovation. For more details, visit
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