Zafin: Management Consulting Driven by a Practical Outlook

Zafin: Management Consulting Driven by a Practical Outlook

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Al Karim Somji Founder, Group CEO & Board Member, ZafinAl Karim Somji Founder, Group CEO & Board Member
With the convergence of technologies and the financial services in place, financial institutions are able to deliver better business decisions and accelerate revenue, but the role of fintech organizations behind it can never be understated. Today, fintech capabilities are not just limited to the dimension of payment and transactional services but also cover the digitization aspect of delivering these services to both businesses and individuals. With an aim to make banks think bigger, a fintech service and solution provider, Zafin equips financial institutions with technology that would as well empower them with new capabilities to overcome legacy systems and processes while increasing agility. With an industry veteran Al Karim Somji’s at the helm, who is the founder and CEO of the company, Zafin has developed a wide range of products. From enabling the banks in managing risks to enhancing their customer lifetime value, the company specializes in the fintech arena with its extensive services.

Zafin’s Product Master, a centralized system of record for all product information across lines of business and channels, not only reduces conduct risk but also accelerates time to market for creating, changing, and launching product propositions. Along with the Product Master, the platform developed by Zafin also integrates with other back-end systems and customer-facing channels, including offers & rewards, billing, and more. Zafin believes that with the right technology and foundation in place, the operations at the financial institutions can become more efficient, help the organizations make better business decisions, and drive revenue growth to increase total client value.


Zafin is an award-winning strategic pricing technology provider for deposits and lending, designed to drive profitability

As a result, the company provides this software platform to the financial institutions that would improve its pricing, personalization, and product configuration without replacing their conventional methods and systems. The company’s end-to-end, automated deal execution platform enables business users to create and change client-specific deals quickly and easily. As a cherry on top, the fintech platform comes as a cloud-based SaaS, which is quick to implement and requires minimal to no changes to the existing systems. Used by more than 80 percent of the world’s largest banks, Zafin deploys its SaaS on Microsoft Azure.

A group of entrepreneurs, which included Somji, had brainstormed and established Zafin in the early 2000s. Headquartered in Toronto with offices around the globe, the company is now trusted by some of the world’s largest retail and corporate banks when it comes to providing more compelling products and experiences to their clients. In the founding stage, the company worked with clients to build a solution from the ground up, tailored specifically for the financial industry. Today, Zafin is an award-winning strategic pricing technology provider for deposits and lending, designed to drive profitability.

As one of North America’s most notable fintech companies, Zafin’s product and pricing control solutions are an ideal complement for the strategic fintech ecosystem. With over 30 global banking customers, Zafin is committed to innovation and building lasting relationships with both clients and partners. This approach emphasizes the importance of first understanding a problem and then building a solution to rectify that specific problem. Recently, after raising $17.2 million in growth financing, Somji believes that this round of funding will allow Zafin to execute their business plans and strategy effectively. In fact, this funding comes at an important time when Zafin is at the cusp of pursuing its strategic objectives and expanding its global market share.

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Company
Zafin

Headquarters
Toronto, Ontario, Canada

Management
Al Karim Somji Founder, Group CEO & Board Member

Description
Established in 2002, Zafin is a leading provider of product and pricing control solutions, enabling banks to manage conduct risk and increase customer lifetime value. In the current environment, it is critical for banks to have certainty around the products and services to which their clients have access, to ensure that pricing is appropriate and fair, and to substantiate that fees and interest are consistent with contractual arrangements. Zafin’s cloud-based SaaS platform can be implemented quickly, with minimal to no changes required to existing production systems. Headquartered in Toronto with offices around the globe, Zafin is trusted by some of the world’s largest retail and corporate banks