DUBAI, United Arab Emirates, Oct. 19, 2016 /PRNewswire/ — Axslogic, a leading provider of Business and Risk Analytics products for financial services, announced that RAKBANK successfully deployed all modules of its flagship product WINNOW™. WINNOW™ is an analytics tool that provides a new early warning system that covers state of the art reporting and analysis at various stages of each financial product’s lifecycle.
The product, WINNOW™, also enables financial institutions to profitably manage and grow their lending businesses while addressing the associated risk issues much more effectively. The analytic tool, WINNOW™, improves the overall results by targeting a necessary plan of action early on for each financial product to succeed. This empowers Senior Management to set new standards of business performance, as it is built on the strength of a globally experienced team.
Geoff Stecyk, COO of RAKBANK, said “We are pleased to have partnered with Axslogic, as their flagship product WINNOW™ effectively provides a unique analytical solution that addresses the risks associated with our lending portfolio. By identifying these risks early on, the Bank can now enable quick actions and solutions where our staff may access in-depth alerts and reports in just one click.”
Hari Baskaran, CEO of Axslogic, said “Axslogic is committed to providing cutting-edge analytics technology solutions across the banking industry. The goal is to help RAKBANK enhance customers’ experience and lower costs while increasing customer confidence and improving the overall performance.”
RAKBANK, also known as the National Bank of Ras Al Khaimah, is one of the UAE’s oldest and most dynamic financial institutions. Founded in 1976, it underwent a major transformation in 2001 as it rebranded into RAKBANK and shifted its focus from corporate to retail and SME. In addition to offering a wide range of retail banking services, the Bank increased its lending in the SME, Commercial, and Corporate segment in recent years. The Bank also offers Islamic Banking solutions, via RAKislamic, throughout its 35 branches and its Telephone, Online, and Mobile Banking channels. RAKBANK is a public joint stock company headquartered in Ras Al Khaimah and listed on the Abu Dhabi Securities Exchange (ADX). For more information, please visit www.rakbank.ae or call +9714 213 0000.
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Axslogic is a Fintech analytics enterprise software company providing cloud and on premise solutions for financial institutions engaged in consumer and commercial lending. Axslogic’s Winnow™creates a new early warning exception management paradigm to manage the challenges and risks associated with such businesses. The solution disrupts the current environment under which such processes are managed using a unique patented architecture and data model. Axslogic is headquartered in Singapore, with offices in India and UAE. With marquee banks and FIs as clients around the globe, Axslogic has shown rapid growth through client satisfaction, repeat client orders and existing client referrals. Axslogic already has multiple partnerships, in addition payment solution leaders, MasterCard, Visa, and technology major, IBM.