Sep 13, 2021
European-based business solutions provider Loxon is proud to announce that it has been featured in the newly-constituted IBS Intelligence Sales League Table LeaderBoard 2021 for the categories of Risk & Compliance and Lending.
The IBS Intelligence Sales League Table (SLT) is a widely-accepted annual benchmarking exercise conducted by IBS Intelligence that ranks global banking technology supplier-systems across 20 system categories based on the number of new customer contracts signed in a given calendar year. It is an industry-acknowledged barometer of global banking technology supplier performance. The ranking is used by banks to help validate performance on a global scale. The IBS Intelligence SLT LeaderBoard provides a comparison of continuity of performance with that of the current year.
Loxon’s core competency lies in the implementation of business solutions covering the entire lending lifecycle and risk management activities of the financial services institutions (banks and leasing companies). Its Retail Lending and Corporate Lending Systems offer a state-of-the-art software and a process-managed approach that supports loan origination throughout decision and administration activities. The company also offers risk calculation methods for maximizing risk-adjusted performance, and has achieved full Basel II/III compliance for all types of risks. Loxon’s Collection System provides broad and flexible support for managing past due deals (bad credits), while Early Warning predicts the probability of default using a behavioral approach based on expert or statistical indicators.
Tamás Erni, CEO of Loxon, said about the achievement:
“We are very proud to once again appear in the iconic IBSI Sales League Table. This prestigious recognition rewards Loxon and its 20 years of existence and experience providing business solutions in the lending ecosystem. I think it's a great honor for us to be rated and to feature in the newly-constituted IBSI Leaderboard's Risk & Compliance and Lending categories, which recognize our consistent performance over the last few years, including the last pandemic-hit year. This accomplishment and the continuous development we put into our business solutions makes me confident that we can maintain this great performance in the future.”
Robin Amlôt, Managing Editor of IBS Intelligence, said:
“IBS Intelligence Sales League Table (SLT) 2021 which is the leading global barometer of supplier performance is pleased to recognize and feature Loxon in its newly-constituted IBSI LeaderBoard for Risk & Compliance and Lending categories for its consistent performance over the last five years. Many congratulations to the entire Loxon team. "
Loxon is a business solutions provider, offering integrated lending, collection, and risk management software solutions for the financial services industry throughout Europe, the Middle East, Africa, Asia and Australia. It is also a vendor of software solutions that aims to serve banks, leasing companies and other financial institutions covering the entire lending, collection, and risk management lifecycle. Loxon has its headquarters in Budapest, Hungary, and has offices in Romania (Bucharest), Russia (Moscow), Bahrain (Manama), Netherlands (Amsterdam) and the United Arab Emirates (Dubai).
About IBS Intelligence
Established in 1991, UK-headquartered IBS Intelligence is the leading global pure play Financial Technology research, news analysis, and advisory firm. IBSI’s Sales League Table is considered the global industry barometer, ranking the performance of leading banking technology suppliers. Its research reports provide comprehensive cover of global suppliers across all Banking Technology & Financial Technology systems, and are also distributed by Thomson Reuters, Bloomberg and S&P Capital IQ. Its Innovation Lab in Dubai brings banks and suppliers together with an opportunity to access the Middle East market and to test and experience global Financial Technology products within the region. The group company, Cedar, is a global management consulting firm with deep expertise in formulating & executing business strategy for financial services clients worldwide, with a significant focus on leading their technology and digital transformation.
Loxon has implemented its SaaS-based Soft Collection Business Solution at Porsche Versicherungs AG. Hungary.
Aug 2, 2021
With the Loxon self-service application, the insurance company has expanded its existing customer interfaces with a new digital channel. The platform allows customers to review their entire insurance portfolio, as well as make instant bank card payments to replace previous account-based settlements. Not only is this a great relief for insurees, as they can avoid a lot of unnecessary inconvenience, but it also saves a lot of resources for Porsche by greatly reducing paper-based processes.
The implementation is a significant milestone for Loxon, as besides representing the most recent extension of its business and technological knowledge, the company has also managed to take its operational capabilities to a new level. The white label application runs in AWS cloud, which enables a rapid implementation and provides additional benefits for the customer, which include cost and other resource savings.
Commenting on the milestone, Zoltán Nánai, Chief Product Officer at Loxon said: Our major goal is to be ambassadors for the digital transformation of financial institutions with our vision being to make finances easy for everyone. The new SaaS-based operation enables us to provide our solutions in a quick and cost-effective way to our customers and seamlessly extend them with new, future-proof enhancements. This implementation at Porsche Versicherungs AG. Hungary was a great experience for us and we are ready to expand our services in this direction.
Introducing Loxon’s application is a great step for us towards digitalisation. - said Krisztián Fülöp, Head of Branch Office at Porsche Versicherungs AG. Hungary. - Our aim is to make administration convenient for our customers, and this new platform offers a transparent and easily accessible interface for managing their portfolios. This not only saves a lot of time and simplifies the life of our customers, but also saves us significant costs by eliminating a lot of paperwork. Galvanised by the success of the implementation of Loxon’s tailored-to-brand application, we expect to extend our current cooperation in the future.
About Porsche Versischerungs AG. Hungary
Porsche Versicherungs AG. is an international insurance company of Porsche Bank AG. providing motor insurance services, based in Salzburg. Porsche Bank AG is currently present in thirteen European countries and has been operating in Hungary since 1994.
The Hungarian Branch of Porsche Versicherungs AG. started operations on 1 November 2006 as a branch of an insurance company in an EEA Member State. Its main task is to conclude CASCO insurance contracts in favorable condition for new and used vehicles sold by Volkswagen, Škoda, SEAT, Cupra, Audi and Porsche dealers in Hungary.
Amazon Web Services (AWS) is the world’s most comprehensive and broadly adopted cloud platform, offering over 200 fully featured services from data centers globally. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—are using AWS to lower costs, become more agile, and innovate faster.
Loxon is a business solutions provider, offering integrated lending, collection, and risk management software solutions for the financial services industry. It is also a dedicated vendor of software solutions which aims to serve banks and leasing companies, covering the entire lending, collection, and risk management lifecycle. Loxon has its head office in Budapest, Hungary, and has offices in the Netherlands (Amsterdam), Romania (Bucharest), Russia (Moscow), Bahrain (Manama) and the United Arab Emirates (Dubai).
To download the press release, please click on the link below:
Loxon won an award at the prestigious MEA Finance Banking Technology Summit & Awards 2021 for being the Best Risk Management Solution Provider
Jun 10, 2021
With its IFRS9 solution, Loxon won the Best Risk Management Solution Provider award at MEA Finance Banking Technology Summit & Awards 2021. The award ceremony took place on 26th May in Dubai where Tamás Erni, CEO was able to receive the trophy and the associated professional recognition in person.
MEA Finance Banking Technology Awards 2021 gives due recognition and celebrates the achievements of the region’s leading banks, financial institutions, and technology providers at the forefront of digital transformation who have worked together to build smarter, more effective, and efficient systems for the new era’s banking customers.
Loxon nominated its IFRS9 solution, which provides end-to-end compliance from accounting, risk and ECL perspectives in a way that consolidates the financial and risk dimensions while at the same time fulfilling the expectations of the bank and/or banking group’s top management, the bank’s external auditors and last but not least, the regulators. It is an advanced strategic product which facilitates dynamic adaptation to the changing economic and regulatory environments in areas such as stress testing, what-if and sensitivity analysis, macroeconomic regression and forecasting, and the recalibration of risk parameters.
Commenting on the company's achievement, Tamás Erni, CEO said: We are exceptionally proud and honoured to be recognised by MEA Finance. The region is one of our key target markets and we view our cooperation with its tier 1 banks such as BBK and Bank al Etihadas extremely important. The award demonstrates not only our excellence in the field, but also that our clients can continuously count on our unwavering support. We do our absolute best to partner with our clients and provide ongoing and innovative solutions which can help them to thrive even in this difficult time of pandemic.
We are delighted to have been able to recognise a European supplier and this also shows that MEA Finance Banking Technology Awards have a global presence. - said Kenneth Mitchen, Executive Director & Publisher of MEA Finance Magazine. – It's a significant advantage for the region that they have access to a risk management product which offers such a comprehensive solution that includes credit risk models, data management, economic forecasting, and also consultancy services. Once again, congratulations to Loxon.
About MEA Finance
www.mea-finance.com a part of MEA Business Magazine delivers news and relevant content on the banking and finance industry in the region. Scope of coverage includes commercial, retail and investment banking, Islamic banking, technology, and wealth management sectors. Thought leadership content on industry trends and challenges are also offered via exclusive in-depth interview, opinion pieces and video interviews with executives within the region’s financial sectors.
www.mea-finance.com targets top level executives of leading banks, financial institutions, family offices and technology providers. Our users include business leaders, senior executives, CFOs, treasurers of leading corporations, regulators as well as entrepreneurs.
MEA-Finance is published bi-monthly alongside MEA Business Magazine, the regions first Augmented Reality business publication. Both MEA Finance and MEA Business Magazine use Augmented reality to adds digital content such as video, podcasts and 3d animation to selected printed pages. The Augmented reality function can be accessed by simply downloading our in-house App (Creative AR) and pointing a mobile phone or iPad over relevant pages. The AR function works on both printed and digital magazine editions offering readers unrivalled reader information access and engagement.
Loxon is a business solutions provider, offering integrated lending, collection, and risk management software solutions for the financial services industry throughout Europe, the Middle East, Africa, Asia and Australia. It is also a dedicated vendor of software solutions which aims to serve banks, leasing companies and other financial institutions covering the entire lending, collection, and risk management lifecycle. Loxon has its head office in Budapest, Hungary, and has offices in Romania (Bucharest), Russia (Moscow), Bahrain (Manama), Netherlands (Amsterdam) and the United Arab Emirates (Dubai).
To download the press release, please click on the link below:
Comunicat de presa privind finalizarea proiectului implementat pe Masura 2 ”Granturi pentru capital de lucru”
May 10, 2021
Feb 16, 2021
Loxon held its 20th anniversary gala webinar last Thursday, February 4th. We had the honour of welcoming hundreds of guests to the event, enabling us to celebrate the shared successes of the last two decades together with our customers, partners, current and former colleagues. The webinar was opened by Robin Amlot, Editor-in-Chief of IBS Intelligence, whose address highlighted the importance of this milestone in the life of a company. He said that according to McKinsey, the average lifespan of companies is 18 years, an accomplishment which Loxon has more than exceeded: today the company continues to grow and prosper.
Referring back to the early years, Kristóf Farkas, company founder, and the first Loxon representative to speak at the event, reflected on the foundation of the company, the initial single-client period, and then the pivotal moment when the company’s strategy was determined during a 'picnic' in London’s Hyde Park, a story which has since become legendary in company circles. He emphasised his pride in the Loxon team, in both current and former colleagues who, with their expertise and personal commitment, have contributed to making Loxon one of the market leaders in the field of the risk management, lending and recovery business solutions.
Speaking next, Tamás Erni, CEO, summed up the last twenty years, highlighting the most important moments and milestones for the company, such as the acquisition of the first foreign client in 2004 or the first group-level implementation in 2012 at Home Credit International. He also touched on the consequences of the current pandemic and how Loxon has overcome the obstacles caused by this situation and has managed to keep on serving its customers to the highest levels of quality.
Between addresses from company executives, we had the pleasure of welcoming Brett King, the Australian futurist as our star guest, who inspired the audience with his visionary speech. As a prelude, he described the path taken by successive innovation trends during the last century, from the emergence of automobiles to space travel and the spread of smartphones and robotics. Extrapolating from this, the audience was then treated to a detailed picture of the projected effects of technological evolution and artificial intelligence in the field of lending over the next two decades.
Loxon's head of innovation and deputy CEO, Zoltán Nánai, was unable to attend the event, so Tamás Erni conveyed his thoughts to the guests. The CEO highlighted the factors that currently have the strongest impact on the financial sector, such as personalised services, instant loans, embedded and comprehensive risk management, open and no-touch banking. He then illustrated how the company is responding to these trends through Loxon’s new collection solution. Artificial intelligence, customer behaviour-based analysis, data-driven decision-making, omnichannel communication, and a revolutionary customer success-centric approach are all integral aspects of the new product.
Last to speak was Anita Vass, HR Director, who introduced the audience to the newly-launched Alumni programme. Fostering the office community and workplace relationships is of paramount importance to Loxon colleagues, so this initiative, launched on the occasion of the company’s 20th anniversary, aims to achieve active, two-way communication.
We would like to thank all our guests for their participation, and we hope that we will have the pleasure of celebrating the next 20 years together again.