Reliance Financial Services from The Gambia was recognised for its technological innovativeness at the Qore NEXUS 2024 awards in Lagos, Nigeria.
The company won the “Courage Award for Most Technology Pioneering OFI in Africa” for its groundbreaking Recova Credit Appraisal System. This digital platform has transformed how the bank processes loans, handling over 80% of loan disbursements through an automated system.
By streamlining critical banking processes like credit decisions and loan approvals, Reliance has significantly improved its operational efficiency.
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The technology allows the bank to reduce costs, minimise risks, and provide faster financial services to customers, particularly in underserved communities across The Gambia.
Managing Director Babaoucar Khan emphasised the significance of the award: “This recognition reflects our commitment to digital transformation and our goal of delivering more responsive, efficient financial services.”
The Qore NEXUS 2024 event brought together financial leaders from across Africa to discuss technological innovations in banking. Reliance Financial Services emerged as a standout example of how technology can revolutionise financial services in developing markets.
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