Riyadh - Sharikat Mubasher: CODIX, a global software provider for commercial and asset finance, partnered with AstroLabs to open a new subsidiary in Saudi Arabia, complementing CODIX Middle East in Dubai and confirming its long-term commitment to the region.
By establishing a new presence in the Kingdom, CODIX will work more closely with local financial institutions, supporting their growth with technology tailored to regional markets and regulatory requirements, the company stated in a press release today.
CODIX’s flagship offering is its Shariah-compliant iMX platform, built on the convergence of commercial and asset finance products within a single system. Covering commercial finance, supply chain finance (SCF), trade finance, equipment finance, car finance, real estate finance, credit insurance, and debt collections, iMX replaces fragmented architecture with a unified data model and end-to-end lifecycle management
Commenting on th milestone, Laurent Tabouelle, COO of CODIX Group, said: “With our new presence in Saudi Arabia, we are closer to our clients and partners in the region. We look forward to supporting the Kingdom’s dynamic financial sector with scalable, future-ready technology.”
For his part, Fouad Fattal, vice president of commercial at AstroLabs, stated: “The Kingdom's financial ecosystem is being reshaped by regulatory advancement, rising demand for sophisticated infrastructure, and a clear push toward innovation, and that creates a compelling environment for a company like CODIX, whose platform is built precisely for this level of complexity.”
The iMX platform helps institutions streamline operations, improve transparency, and accelerate time-to-market. Available in 28 languages, the platform is used by over 50,000 users across more than 50 countries.
