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(L-R): Vivek Bhatnagar, SVP-EMEA Sales, Newgen Software, and Matar Al Khateeb, CEO, AJIL Financial Services Company. Image Courtesy: Newgen
Dubai, United Arab Emirates: 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.”
About AJIL Financial Services
Operating since 1997, Headquartered in Jeddah, AJIL is a leading SAMA-licensed financing company specialising in Shariah-compliant financing solutions that address the unique needs of its customers in the SME segment across the Kingdom.
AJIL offers innovative financing solutions for businesses, thereby allowing customers to fulfill contracts, realise projects, and achieve their goals. Guided by compliance principles and transparency, AJIL is committed to empowering corporations and SMEs to achieve their financial goals. With a focus on sustainable growth, AJIL aligns itself with Saudi Vision 2030 to support economic growth through innovative financing solutions and customer-centric strategies.
About Newgen Software
Newgen is a leading provider of an AI-enabled unified digital transformation platform with native process automation, content services, and communication management capabilities. Globally, successful enterprises rely on Newgen’s industry-recognised, low-code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud. From onboarding and service requests to lending and underwriting, and various other use cases across industries, Newgen unlocks simple with speed and agility.
For more details, visit www.newgensoft.com
Media contact
SAI KEMKAR
Account Executive
E-mail : sai.kemkar@shamalcomms.com