Erada Finance announces the launch of its digital core banking system "XFin", with the official approval from the Financial Regulatory Authority FRA Egypt's leading authority overseeing and ensuring the stability, transparency, and growth of the non-banking financial sector. Erada Finance is a joint venture owned by e Egypt and The Sovereign Fund of Egypt, alongside its CEO, Mr. Amr Abouelazm.
XFin is designed as a universal and fully-fledged solution for non-banking financial services, it marks a breakthrough in the company's journey and positions Erada Finance at the forefront of digital innovation in the Egyptian market.
XFin brings together a set of powerful features and AI-Powered modules designed to transform non-banking financial services. It includes Loan and Portfolio Tracking System that ensures the highest levels of accuracy, transparency, and efficiency in managing financial operations. The platform also offers a Product Management System tailored for Micro, SME, Islamic, and Merchant financing, with the flexibility to support all future financial products including Nano finance, which falls under Erada's upcoming expansion plans. In addition, XFin provides an Integrated Lead Management System that enhances customer acquisition and strengthens relationship management, ensuring sustained growth and customer satisfaction.
