NEW DELHI, Sept. 26, 2022 /PRNewswire/ -- Yabx, a strongly-rooted fintech venture has emerged as an industry leader after its consecutive recognition at the biggest and most reputed global awards.
The fintech start-up recently won the Pacific Islands FinTech Innovation Challenge 2022 for 'Increasing usage of financial products and services in Solomon Islands', organized by United Nations Capital Development Fund (UNCDF) in Singapore. There is a significant dearth of financial literacy & financial product usage in the Islands and Yabx will be working together with Solomon Islands National Provident Fund to amend this situation.
Yabx, continued its winning streak by outperforming competition at the Asia FinTech Awards'22 and winning 'LendTech of the Year' amongst hundreds of global players. Asia FinTech Awards is a stage to find the world's premiere financial services solution fostering the best financial technological ventures stretching from Mumbai to Tokyo.
Within a week, Yabx went on to win the Best 'Buy Now Pay Later' Solution award at the Global Fintech Fest'22, a gathering recognizing the best that the fintech world has to offer. This was one of the biggest events worldwide and a testament to the new-age digital solutions offered by Yabx that are transforming the lives of customers and providing financial empowerment.
Rajat Dayal, CEO & Founder of Yabx, said, "This is a great time to be in this space, solving complex financial problems which touch people's lives. These are important yet unaddressed issues, for example, customers' transactional hurdles are often caused by shortage of funds in their wallets. Through our BNPL solution, users will be able to complete transactions that would have otherwise failed or postponed due to shortage of funds. These awards validate our efforts in bringing innovative digital lending services to the forefront."
Yabx has witnessed significant momentum in its existing lending portfolios. With partnership agreements signed with leading Banks and Wallet providers in several East, West, and Central African countries. Yabx is poised for market expansion and launching new service offerings to cater to customer needs.
'We are planning to grow our customer base by two-fold this year which will further contribute to financial inclusivity and literacy for more people," further added Rajat.
Making quick digital lending a seamless norm for anyone and everyone with a mobile phone is the future of the world. In the midst of such recognition, Yabx is determined to intensify operations to exponentially progress towards financial inclusion and stir a digital revolution across geographies.
Yabx aims at simplifying financial access to over two billion thin file, under & unbanked customers and MSMEs in the emerging markets of Asia, Africa & Latin America.
Yabx provides financial control and choice to the under-served. The company leverages technology and analytics to reduce the cost of delivering financial services, thereby bringing banking services to the unbanked. This is achieved through strategic partnerships with leading banks, microfinance institutions, credit bureaus, mobile financial services providers, mobile network operators and handset manufacturers.
Yabx is running in over 20+ markets worldwide and have scored over 55+ million customers. Incubated by Comviva, a global leader in mobile financial services, Yabx is a part of the $21 billion Mahindra Group. Led by a team of industry experts and entrepreneurs, Yabx currently operates out of The Hague, New Delhi, Bogota and Nairobi.
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