2020 is extra special for us. Loxon is celebrating 20 years of providing top-notch risk lending and collection business solutions. It’s incredible where we’ve come from in two decades: from a single client small business, we’ve grown into an international company employing 250+ staff cooperating with more than 80 financial brands and banking groups. Since our inception in March 1995, we’ve strived to keep abreast of the world’s changing economic climate, whilst pioneering innovation in the goods we offer. This constant pursuit of excellence has led us to become one of the market leaders in lending, risk management and collection business services. Our focus is on solving the needs of our customers; to this end, we strive to apply and provide the latest technologies in our products.
We’re extremely proud that Loxon’s market position has allowed us to maintain our stable operation in the midst of the current pandemic, and we celebrate our anniversary with our head held high.
We’d like to take this opportunity to thank our customers, partners, colleagues, alumni and all the organizations we’ve worked with for making this possible, and to invite you all to celebrate with us.
The Foundation of Loxon
The company starts as a single-customer company, delivering bespoke solutions for Raiffeisen Bank Hungary. Loxon is the first to work with thin client Java™ technology at the bank. Also, within an order, our first product, Loxon Retail Lending system is designed.
Defining the company’s strategy
Reflecting on our initial successes, it becomes clear that there is a long-term demand for our business solutions; thus, it’s worth focusing on our core competences and considering a product portfolio. Whilst attending the Oracle Openworld Europe conference in London in order to introduce our Basel II Calculation Engine, the two executives of Loxon take a rest in Hyde Park and lay the foundations of a strategy that will define the business in the years to come. Loxon starts to develop business solutions in the areas of lending, risk management and collection.
Contracting with CIB Hungary
Taking the first step on the way of expansion, Loxon wins its second customer. The third company product, Loxon Collection System, is designed within the order.
Alliance with Banca Comercială Română, acquiring the first foreign customer
The Loxon Basel II Calculation Engine is implemented in Romania’s market leader bank, Banca Comercială Română for market risk management with the strong support of our international partner, Oracle. The cooperation will further evolve in the following year with the delivery of Loxon’s Corporate Lending System.
Our first MEA customer
The Loxon Basel II system is implemented in Egyptian Arab Land Bank, Jordan. It’s a strategically important milestone, as one of the company’s expansion targets is this market.
Opening our Bucharest Office
Our Romanian office opens in the capital, and becomes the OFSAA and business intelligence competence centre of the company. The local team works on implementing the Oracle BI and OFSAA systems first, and later the operation also includes enterprise data warehouse and advanced analytics implementations.
Exceeding 100 experts
Opening our Dubai Office
Due to the growing number of Middle Eastern customers, Loxon decides to open an office in Dubai, the centre of the MEA region. The goal is to provide an increased presence for local customers, and to build sales support.
First group standard implementation
Czech Home Credit International chooses Loxon Collection System as group standard. The solution is implemented in all 7 countries where Home Credit operates, including the Czech Republic, India, Indonesia, the Philippines, Kazakhstan, Vietnam and China.
Opening our Debrecen Office
Loxon opens an innovation centre and sets up an independent team in Debrecen in order to place more emphasis on the implementation of the latest technologies. The focus is on artificial intelligence and its use in the financial sector, and on building a low-code platform for the sake of flexibility and quick implementations.
Exceeding a 200 headcount
The expansion of the company and the number of new projects requires the recruitment of large numbers of new colleagues. Our crew has doubled in six years, from 100 to 200.
First ML/AI based projects
The first projects in which artificial intelligence is applied as the basis for a smart and extremely sensitive early warning solution are implemented in two banks, one in Europe and one in the Middle East.
Winning Customer Satisfactory category at RiskTech 100® 2018
Loxon, the only ranked provider from Central and Eastern Europe, finishes 61st overall in Chartis RiskTech 100® 2018, and wins the 'Customer Satisfaction' category. The company moves up 27 rankings from the previous year, which is the most significant improvement among all suppliers.
Opening our Amsterdam Office
This milestone reflects the strengthening of Loxon’s Western European orientation.
We've compiled a selection of our white papers that may provide you with useful information in the field of lending, risk management and collection. Read more aboout our insights instantly.
Advanced analysis and visualisation techniques for deep portfolio impairment analysis, management and forecasting
Efficient support to the credit monitoring activity of financial institutions
Data driven collection software for the digital world
Home Credit B.V. selected Loxon Solutions for its Collection System because we were looking for a flexible, scalable and robust solution. and a long-term relationship with the solution provider. The final shortlist of three potential partners was evaluated on stringent parameters: their credibility, financial positions, and strength of the solutions based on proof of concepts. Loxon Solution’s Collection System was thus awarded the mandate.
Jan Cenkr
Former Head of Software Development, EmbedIT
2019
“Loxon was and is still the backbone for availing the solution of the Egyptian Collateral Registry ECR, where the system was fully developed and implemented as per the Egyptian law and regulatory requirements, in a timely manner and a very outstanding professionalism. Loxon provided all support and dedication to our company to achieve the system on which enabled Egypt to be acknowledged by Doing Business report 2019 issued by World bank group.”
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Karim El Dine Hamdy
Director Collateral Registry, I-Score
2020
Chartis is the market leader in leader in risk technology research and analysis. Its flagship publication RiskTech100® is still the most comprehensive independent study of the world’s major players in risk and compliance technology, and is globally acknowledged as the go-to resource for clear, accurate analysis of the risk technology marketplace, current market conditions, and company performance.
We’re proud to say that Loxon has consistently ranked highly, and for many years we’ve been the only provider in the RiskTech100® study hailing from Central and Eastern Europe. Our most exceptional result was when we won in the Customer Satisfaction category in 2018. It's not easy to surpass this achievement. However, we’ve continued to pursue improvement and innovation, and are determined to better our ranking every year.
We believe that moving up six places to finish 64th from last year's 70th is a tremendous honour and a strong reflection of Loxon's core values: to provide our customers with the highest quality service, continuous support, and answers to their problems using our innovative solutions.
We look forward to next year’s competition, and we’ll do our best to achieve an even more outstanding result.
And now let’s hear the thoughts of Tamás Erni, CEO, on the winning of the 2018 Customer Satisfaction category:
