CRIF is a global company specialising in credit and business information systems, analytics, outsourcing and processing services, as well as advanced digital and Open Banking solutions for business development. At the beginning of August 2023, Arab Financial Services (AFS) partnered with CRIF to serve its clients in the MENA region by implementing the latter’s Open Banking use cases and solutions. Through this collaboration, AFS aims to help widen its deliverables to its bank clients, providing them with more options and a spectrum of customer-centric solutions. Moreover, CRIF and Know Your Customer partnered with PAOB to improve digital onboarding for the latter’s SME customers. The alliance seeks to support PAOB in meeting the growing demand for quick-to-access banking services by local SMEs through the provision of a scalable, cloud-native solution. Back in May 2023, CRIF launched new Open Banking solutions for insurance companies to improve the onboarding process, reduce risk, and tailor products for customers. The suite leverages CRIF’s existing Open Banking solutions to help insurers assess the creditworthiness of customers and reduce overall risk through AI-powered categorisation. Through this, CRIF aims to enable insurers to make informed decisions and offer customised products and services that match the client’s needs and affordability.
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