Maisarah Islamic Banking Services (MIBS), the Islamic window of Bank Dhofar, has signed an agreement with software provider axefinance to utilize Axe Credit Portal (ACP) software, a single platform to streamline its corporate and retail business lines.
The automation will cover the whole credit value chain, including loan origination, risk analysis, write-ups, approval processes and delegation of authority, risk-based pricing, facility sanctioning, covenant management, and limit activation.
It will also ensure a seamless and effective omnichannel journey through mACP, the ACP mobile application dedicated to bank staff. This will allow the bank to optimize the credit turnaround time and provide competitive offerings.
“MIBS will leverage axefinance’s connected lending platform in order to bridge operational silos, ensure compliance, and digitalize conventional paper-based processes,” shared Karim Rekik, the executive partner at axefinance.