The new automated tool features an enhanced credit risk assessment-based algorithm that will allow for higher approval rates through streamlined decision-making.

Cairo, 22 February 2022 

valU, the MENA’s leading and multi award-winning Buy-Now, Pay-Later (BNPL) lifestyle enabling fintech platform, announced today the launch of its new Rules Engine 2.0 for Higher Approval Rates. The new automated tool features an enhanced credit assessment-based algorithm that will allow for higher approval rates through streamlined machine decision-making.

“The launch of valU’s enhanced Rules Engine 2.0 reflects our ongoing commitment to expanding its ever-progressing risk-assessment methodologies, ensuring that its service offering remains aligned with the fast-paced fintech industry to maintain its position as a market leader,” said Mostafa El Sahn, Chief Risk Officer of valU. “As the MENA region’s leading BNPL lifestyle enabling fintech platforms, we continuously develop and improve our credit scoring model to ensure we maintain the highest levels of risk management in line with best business practices without compromising on the customer experience. The innovative automated credit assessment tool will allow valU to broaden its acceptance rate, increasing it from 55% to 80%. This upgrade puts greater emphasis on credit assessment, with a clear focus on performance, sustainability and scalability,” Concluded El Sahn. 

The new rules engine is designed to rank customers by condensing a variety of variables and attributes into a single score. It will approve valU limits subject to each customer’s risk rating, guaranteeing a more analytical risk-based assessment that factor in more criteria. The new rules engine will also have higher precision by handling all outliers and missing values through grouping similar attributes with similar predictive strengths, increasing from the model's accuracy in the process.

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About valU

A subsidiary of EFG Hermes Holding established in 2017, valU is the leading Buy-Now Pay-Later (BNPL) lifestyle enabling fintech platform offering convenient and customizable financing plans up to 60 months. With more than 5,000 points of sale and over 300 websites, valU offers access to a wide network of retail and e-commerce providers across a diverse array of categories including home appliances, electronics, home finishing, furniture, residential solar solutions, healthcare, education, travel, and fashion, among others. As the first platform of its kind in the MENA region, valU customers are able to receive instant credit decisions through their devices and gain access to the ever-growing platform’s partners.

For further information, please contact:  

The EFG Hermes Holding Public Relations Team

PublicRelations@EFG-HERMES.com

May El Gammal

Group Head of Marketing & Communications at EFG Hermes Holding

melgammal@efg-hermes.com 

Note on Forward-Looking Statements

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