Ajman Bank partners with Yubi MENA to support business banking customers
The Yubi Group is the world's only technology company powering the end-to-end debt lifecycle. As part of this partnership, Yubi is activating its corporate loans & supply chain financing platform - Yubi Enterprise Credit Market for Ajman Bank. This enterprise financing marketplace enables seamless access to credit for businesses through a 100% digital & hassle-free process.
The partnership announcement event was attended by Faizal Kundil, Head of Consumer Banking – Ajman Bank; Gaurav Kumar, Founder & CEO of Yubi; Jyoti Ranjan, Head of Business Banking – Ajman Bank; Mohammed Mardas, Head of Distribution – Ajman Bank; and Sivakumar Rajakkannu, Senior Vice President and Head of Yubi Enterprise Credit Market, MENA.
Faizal Kundil, Head of Consumer Banking at Ajman Bank, stated, 'Banks have to work with fintech firms rather than consider them competition. We are in the midst of a journey towards digital transformation, and this collaboration will enhance our SME finance offering to customers in that space.'
Gaurav Kumar, CEO of Yubi, commented, 'We are delighted to partner with Ajman Bank to power the SME ecosystem through cutting-edge technology and innovative financial solutions. Our mission is to make access to finance seamless and faster for SMEs, and this partnership marks a significant step towards achieving that goal in the UAE and beyond.'
The collaboration reflects Ajman Bank's commitment to empowering SMEs with advanced technological tools and greater access to finance, fostering a culture of innovation and fintech partnership in the region.
About Ajman Bank
Ajman Bank is an Islamic bank with an ambitious vision based on values of integrity, trust and transparency seeks to provide a wide range of Sharia-compliant and high-quality banking services to customers from individuals, companies and government institutions across the UAE. It is also keen to be updated with the latest technology that will ensure customers a distinctive experimental banking with the revival of human touch that is lost in the modern era of banking application.
Ajman Bank is headquartered in Ajman and enjoys the strong support of the Government of Ajman and is a key pillar in the emirate's economic development strategy. The bank continues its tireless efforts to establish a prominent position in the banking sector as a sustainable Islamic banking institution, with an emphasis on the need to achieve an optimal balance in the community and caring staff, in order to provide real value for shareholders and customers alike.
About Yubi
The Yubi Group, valued at $1.5 billion is the world's only technology company powering the end-to-end debt lifecycle. Founded in 2020 by CEO, Gaurav Kumar, Yubi's technology infrastructure, risk evaluation, and collections platforms facilitate every stage of the flow of money from lenders to borrowers and back to lenders. Yubi's full stack digitised debt platform is based on the principle of interoperability - i.e. through a single integration, a lender can access a cross-section of debt products across Loans, Supply Chain Finance, Digital Lending, AI/ML Based Data Solutions, Securitisation and Collections enabling non linear growth for lenders.
The company is backed by esteemed investors like Peak XV, Lightspeed, Lightrock, TVS Capital, B Capital Group, Dragoneer Investment Group, and Insight Partners, among others. Today, Yubi facilitates over $16 Billion in debt volumes, serving 17,000+ enterprises and 6,200+ investors & lenders while reducing collections costs by 57%. With a mission to deepen the debt market and democratize capital flow, Yubi is transforming the financial landscape, fostering inclusivity, and building a transparent and responsible ecosystem for all.
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