Erada Finance Signs Strategic Partnership with Lumin Soft to Deliver a Digital Customer Experience

Erada Finance, a leading provider of financing solutions for small, medium, and micro enterprises, has announced a new strategic partnership with Lumin Soft—one of the Financial Regulatory Authority (FRA)-certified companies specializing in digital identity, electronic verification, and digital contract solutions. This partnership marks a pivotal step in Erada’s ongoing digital transformation strategy, aligned with its plan to obtain a FinTech license and launch its upcoming digital application. Erada Finance is a strategic partnership between e& Egypt, The Sovereign Fund of Egypt, and the company’s CEO, Amr Abou El Azm.

Lumin Soft’s Advanced Solutions
Through this collaboration, Erada Finance aims to integrate Lumin Soft’s advanced solutions across its digital infrastructure. This includes electronic identity verification, automated data extraction technologies, document authentication linked directly to FRA systems, verification of civil registry issuance records, and liveness detection to ensure accurate applicant identification. The partnership also introduces digital contract and e-signature solutions, enabling customers to complete financing procedures efficiently and seamlessly—without paper-based interactions in the near future.

Modern Technologies
This development comes as Erada Finance moves closer to securing its FinTech license, particularly after the FRA’s approval of its core banking system, Xfin. With Lumin Soft’s technology integrated, the company is preparing to launch its new digital application, which will allow customers to submit financing requests, verify their identities, and sign contracts entirely online—powered by modern technologies that enhance speed, accuracy, transparency, and overall security.

Digital Ecosystem
Commenting on the partnership, Amr Abou El Azm, CEO of Erada Finance, said:“We consider this partnership a fundamental step in our journey as a fully integrated FinTech company. We are activating a digital ecosystem that puts the customer at the center, providing fast, reliable, and transparent financial solutions. Our collaboration with Lumin Soft will strengthen our ability to offer self-service digital financing in Egypt, paving the way for obtaining our FinTech license and launching our application, which will transform how businesses access financing.”

Supporting Entrepreneurs
Erada Finance aims to deliver a comprehensive digital experience for entrepreneurs, SMEs, and self-employed individuals seeking flexible and fast financing options. Enabling customers to apply digitally represents a major shift in Egypt’s financing market, which still depends largely on paperwork and field assessments.

The company emphasizes that Lumin Soft’s advanced solutions will give Erada a clear competitive edge by accelerating application and approval processes, reducing operational costs, strengthening compliance and security, and ultimately providing a more efficient and trustworthy customer experience. This supports Erada’s broader vision to position itself as a leading provider of digital financing solutions in Egypt, promote financial inclusion, and simplify access to funding for small businesses and startups through secure and efficient digital channels.

Innovative User Experience
As this partnership is fully implemented, Erada Finance expects several key outcomes, including obtaining its FinTech license and launching its new digital application that will allow customers to complete their entire financing journey through their mobile phones—delivering a fast, integrated, and innovative user experience.
It is worth noting that Erada Finance obtained its initial license in late 2022 with a vision centered on utilizing financial technology to enhance customer reach, reduce costs, and empower employees to offer better service, competitive pricing, and diverse financial products. In just three years, the company has established a strong presence across 18 governorates through 97 branches. Erada has consistently focused on supporting micro, small, and medium businesses, fostering community development, creating job opportunities, and balancing profitability with social responsibility. The company has successfully issued more than EGP 2 billion in financing, serving over 85,000 customers—cementing its position as a leading provider of innovative financial solutions that empower entrepreneurs and support sector growth.

Source: Press Release