Loxon, a leading provider of financial technology solutions, is proud to announce that, in collaboration with Qatar National Bank (QNB), they have been awarded the “Best Debt Collection System Implementation” at the prestigious MEA Finance Banking Technology Summit and Awards 2024. This award recognises the successful implementation of Loxon’s Collection System at QNB, designed to streamline and automate collection and recovery processes. The project encompasses QNB’s SME and Retail Banking operations across Qatar, Oman, and Tunisia, with Qatar already in full production and implementation ongoing in the other countries.
A Collaborative Effort for Enhanced Efficiency
“We are thrilled to receive this award alongside QNB” – said András Bali, Head of Delivery at Loxon. “This win reflects the dedication of both our teams in collaborating to implement a solution that optimises QNB’s collection strategies and drives significant operational improvements.”
The Loxon Collection System offers a comprehensive and integrated approach to debt collection and recovery. Key benefits that can take advantage of QNB in Qatar include:
- Optimised Collection Strategy: Transitioning from manual to automated processes has streamlined operations.
- Enhanced Effectiveness and Efficiency: The system has improved the efficiency of the collections and recoveries department.
- Improved Collection Rates: The automated system has led to a positive impact on collection and recovery rates.
- Boosted Department Productivity: Streamlined workflows have enhanced overall department productivity.
- Improved Customer Communication: The system facilitates better communication with delinquent customers.
- Data-Driven Decision Making: Robust analytics and reporting tools provide valuable insights to support data-driven decision-making.
A Transforming Partnership
“We are delighted to receive this award in partnership with Loxon” – said Ismail Mohammed Al-Emadi, Executive Vice President – SME Banking at QNB. “Loxon Collection System has significantly transformed our collection and recovery processes, leading to improved efficiency, cost savings, and better customer service.”
Delivering digital transformation
“The 2024 MEA Finance Banking Technology Summit and Awards is proud to recognize Loxon and QNB for their collaborative achievement in winning Best Debt Collection System Implementation!” stated Kenneth Mitchen, Executive Director & Publisher of MEA Finance Magazine.
“This award highlights the innovative spirit of Loxon’s Collection Business Solution, expertly implemented by QNB. The award underscores the significant advantage Loxon’s technology brings to financial institutions, along with QNB’s dedication to implementing best practices. Congratulations to both Loxon and QNB on this well-deserved achievement!”
The successful implementation of this project underscores the value of collaboration between QNB, Loxon, and our local partner, Stratic Consulting. Both Loxon and QNB remain committed to continuous
innovation in the financial technology space, ultimately fostering improved operational excellence within the banking sector.