Verofax named winner of BisB Innovation Challenge MANAMA, January 25, 2021 Bahrain Islamic Bank (BisB), a leading Bank in the Arab Gulf region, has announced Verofax as winner of the 'BisB Innovation Challenge', a Fintech Competition run as part of the Bank's partnership with 'FinHub 973: CBB (Central Bank of Bahrain) Digital Lab', the kingdom's open application programming interface (API) innovation platform.
Verofax, a mature and enterprise-ready service provider, was selected after rigorous screening to ensure a solution with the requisite level of feasibility and security to maintain the confidentiality and security of customers' financial data.
Verofax, founded by Wassim Merheby, and technology partner Turnkey Lender proposed a unique approach in emerging as the Fintech with potential to build the most promising Proof of Concept (PoC) for the sought solution. Verofax offered a PoC for a Credit Scoring solution, incorporating alternative and unstructured datasets, to improve the banks speed and breadth of its financial services to existing and new clients.