Wa’ed success story
An online lending platform that offers financial services in Saudi Arabia
Learn how Wa’ed by Aramco successfully launched its consumer lending platform in just four months, thanks to the support and collaboration of HES FinTech.
Challenge
End-to-end automated lending process
The client needed a flexible lending solution to take their business online. Following a
requirement analysis, the team of HES FinTech created a full-circle loan platform that fully
automates the microfinance lending process and provides integrations with third-party payment
systems.
requirement analysis, the team of HES FinTech created a full-circle loan platform that fully
automates the microfinance lending process and provides integrations with third-party payment
systems.
Approach
Business analysis followed
by development
The outcome of the project is a robust loan management platform that allows borrowers to
register and apply for a loan via mobile phone, access their application/loan data, and receive
money on a bank account within 5 minutes. The solution processes borrowers’ loan applications
from the initial step until the full reimbursement.
register and apply for a loan via mobile phone, access their application/loan data, and receive
money on a bank account within 5 minutes. The solution processes borrowers’ loan applications
from the initial step until the full reimbursement.
4 months
Time-to-market
50%
Reduced the decision
-making time
-making time
2X
Increase in applications
Result
Wa’ed surpassed numerous competitors in the Saudi Arabia market, showcasing remarkable business achievements
HES FinTech’s solution enabled the client to expand their operations and provide loans to a
growing customer base. As a result, Wa’ed has emerged as a prominent consumer lending company
in Saudi Arabia, renowned for its competitive interest rates and swift application processing.
growing customer base. As a result, Wa’ed has emerged as a prominent consumer lending company
in Saudi Arabia, renowned for its competitive interest rates and swift application processing.
software for our financial services. Their expertise will support the launch of our updated platform,
which will benefit from automation, clear UI & UX, and a fully functional customer portal.