Banque Populaire de Mauritanie further strengthens partnership with Azentio Software through adoption of iMAL Business Intelligence

Bank to use advanced analytics in bolstering decision-making, customer service and Sharia compliance

SINGAPORE, June 27, 2024 /PRNewswire/ -- Azentio Software ("Azentio"), a leading end-to-end software company specializing in the BFSI sector, has announced that Banque Populaire de Mauritanie ("BPM"), one of the largest financial institutions in Mauritania, is now live with iMAL Business Intelligence (BI) – a strategic BI platform that empowers banks to take more effective decisions, faster. The solution's advanced analytics will help BPM to simplify its data management processes and extract valuable and relevant insights for data-driven business outcomes.

BPM's continued growth pivots on the banks' ability to effectively address multiple opportunities such as assessing high-margin revenue streams, ongoing innovation in Islamic banking products, reducing customer churn, improving customer-centricity and capitalising on high-growth opportunities. Data insights will give BPM quick and easy access to the essential data which is critical to their success and will offer the bank real-time insights while also significantly improving analysis, storage and data collection.

iMAL BI offers a variety of customized interactive reports, dashboards, and data visualization options to identify trends, patterns, and insights to take effective and proactive actions. BPM can expect a comprehensive view of data from multiple platforms and across departments which will ease collaboration and quicken communication within the organisation.

BPM has been utilizing iMAL, an industry-leading Islamic core banking platform since it first expanded operations into universal banking in 2012. The platform has consistently powered BPM's growth trajectory, helping it to speedily evolve and deliver innovative products and services to satisfy evolving customer needs while ensuring the bank conforms to Sharia values.

Limam Ebnou, CEO of BPM, stated, "BPM has continuously endeavoured to stay ahead of the curve in our markets and with our customers. Azentio's domain expertise and business know-how has undoubtedly been a contributing factor in achieving this over the years and we are proud to continue to grow and strengthen this relationship with them. We chose iMAL BI as we can see that it has sophisticated data mining, benchmarking, analytical and visualisation capabilities to empower our teams with the data they need to make decisions, with speed, that drive real change."

Sanjay Singh, Group CEO of Azentio, commented, "We are proud of our long association with the leading Islamic bank in Mauritania. BPM has successfully transformed the banking segment in the region by reimagining their approach across the business, their technology and operating model. With iMAL BI, our objective is to help them with the right tools to access the right data, at the right time, to effectively reshape business and drive growth while improving operational efficiency. The platform will provide BPM with state-of-the-art problem-solving capabilities to reduce process inefficiencies and strengthen their customer engagement practices."

About Azentio Software

Azentio provides mission-critical software products across Asia Pacific, Middle East, Africa and India to banks, financial services providers, and insurers. It also provides ERP solutions to mid-market enterprises. The company's flagship platforms include Azentio ONEBanking, Azentio ONECapitalMarkets, Azentio ONEInsurance, and Azentio ONEERP. The flexibility that comes from its software platforms allows a host of applications to work with a single source of data and equips clients with workflow, analytics, document management and flexible integration mechanisms. Azentio Software Private Limited is wholly owned by funds advised by Apax.

About Banque Populaire de Mauritanie

Headquartered in Nouakchott, Mauritania, Banque Populaire de Mauritanie ("BPM") is an Islamic bank offering individuals, professionals, and businesses an innovative range of products and services in terms of deposits, financing, and participatory investments. Founded in 1998 as a Financial Credit Institution and transformed into universal bank in 2012, the bank has today expanded exponentially, with branches covering most of the country's major cities, including 20 in Nouakchott alone.