Prime Group Selects TurnKey Lender Enterprise Technology to Digitize SME and Consumer Lending in a New Startup
TurnKey Lender, the market-leading provider of AI-driven risk assessment, decision management, and digital lending process automation software and services announced that Prime Group, a leading financial company in Egypt, will utilize TurnKey Lender Enterprise to launch new digital lending products for SME and consumer lending.
Prime Group is a regional investment bank with a presence throughout the major Arab markets of the world. The company specializes in innovative financial services for corporations, institutions, governments, and individuals in multiple jurisdictions. Prime Holding has ventured into the world of financial technology through the launch of its new company, Prime FinTech. Powered by TurnKey Lender, Prime FinTech will help the Holding reach new audiences as well as provide SMEs and consumers with affordable, accessible, and user-friendly financing.
The company will use TurnKey Lender’s AI-driven credit scoring and built-in intelligent automation to boost fair financing in the region and deliver an unmatched customer experience to SMEs and individuals throughout Egypt.
“Prime FinTech intends to fill the gap between the aspirations of Egyptians and the economic realities by offering consumers and businesses innovative financing solutions. This is set to take place through a seamless, simple, agile, and state-of-the-art customer experience that is accessible to all’, comments Mervat Erian, CEO at Prime FinTech.
TurnKey Lender provides banks with an intelligent Unified Lending Management (ULM) system that automates the loan’s entire life cycle. The modular integrated platform includes application processing, risk assessment, decisioning, loan origination, underwriting, servicing, collections, reporting, archiving, and compliance allowing banks to automate parts of their operation or use the end-to-end solution. The proprietary AI-driven Decision Engine also includes multiple scoring models and applies machine learning algorithms and deep neural networks to help the lender approve the right loans within 30 seconds or less. This allows banks to offer their customers the most advanced technology available in the lending industry.
Elena Ionenko, Co-Founder and Head of Business Development at TurnKey Lender states: “We’re excited to welcome Prime Group as a TurnKey Lender client and we’re looking forward to helping them maximize return for their country, people and businesses during this pivotal time.”