Codebase Technologies is the winner of this year’s “Fastest Growing Open API Banking Solutions Provider” award from The Global Economics for their success in the digital transformation, SaaS, and neo banking space.
About Codebase Technologies
Globally, Codebase Technologies has been growing at a stunning pace becoming one of the world’s fastest-growing open API banking solutions providers. With a vision to “disrupt the way technology is used, for a greater purpose,” the company engineers impactful digital financial experiences for conventional and Islamic banks, fintech firms, neo banks, lenders, and start-ups.
The company has launched several digital, challenger, and neo banks along with an extensive list of financial propositions across the UAE, Malaysia, Bahrain, the UK, and Africa with a proven success rate and unparalleled speed to the market. As a result, Codebase Technologies has emerged as a pioneer in the digital banking space, growing rapidly worldwide, and focusing on MENA, CIS, APAC, and Africa. Beyond superior technology, we encompass a unique consulting approach to projects by marrying cutting-edge technology with expert knowledge in banking and financial services, that has set the company apart from its competition, allowing the team to work alongside clients, developing their digital propositions, products, and solutions.
Codebase Technologies has delivered fantastic results in the space thanks to their award-winning Digibanc™ Suite – a cloud-enabled, API-driven, and highly adaptable digital banking platform that allows institutions to provide all-inclusive digital financial services. The firm drives collaborative experiences across the financial services landscape and embraces a diverse ecosystem of partners and vendors.
The Digibanc™ Suite is built on a modular micro-services architecture, providing a robust and agile platform to launch new financial products at scale. In addition, the platform is core-agnostic, allowing legacy institutions – both conventional and Islamic, to implement new digital capabilities without the lengthy and costly process of replacing their existing core systems. With a deep culture of innovation and excellence, Codebase Technologies are helping to bring forward the next generation of digital transformation and banking worldwide.
A pedigree of success
Codebase Technologies has entered into a strategic partnership with Interswitch Group, Africa’s leading technology-driven payments company, and Africa’s first unicorn, in September 2021. With a shared vision of helping Africa’s financial institutions and customers make the transition to digital banking, Codebase Technologies‘ award-winning Digibanc™ SaaS platform is the perfect complement to Interswitch’s existing payments and digital banking offering, and together the partnership will help broaden access to financial services for Africans, driving greater financial inclusion across the continent.
Digibanc™ SaaS, hosted by Interswitch, will enable financial institutions in West and East Africa with full front-to-back SaaS capabilities through a rapid and cost-effective deployment model, allowing true economies of scale. Working with the Codebase Technologies team will help Interswitch broaden its current digital offering while leveraging Interswitch’s brand recognition to increase the reach and visibility of Digibanc™ SaaS in Africa.
The partnership will also enable banks, fintech firms, and other corporates, to take advantage of new, leading technologies, so they can continue to meet the evolving market and customer demand. In turn, customers will be able to access an extensive range of innovative banking and payment products that meet their current and future needs.
In the MENA Region, Codebase Technologies has worked with the Kuwait Finance House (KFH) and Dubai Islamic Bank on several initiatives. The team-built Bahrain’s first pan-GCC neo bank with Kuwait Finance House and has helped the bank disrupt the world of compliance by creating the first fully automated regulatory reporting platform, allowing KFH to cut down their cost and time for Central Bank reporting by 90%. The project has also reduced the occurrence of reporting errors by over 80%. For Dubai Islamic Bank, Codebase Technologies created the first-ever digital onboarding solution for Roshan Digital Accounts, allowing non-resident Pakistanis to invest back into the country from abroad.
Recently Codebase Technologies and Capital Bank Group have partnered to build the region’s first neo bank, which delivers services to the unbanked in Jordan and Iraq. The initiative will spearhead digital transformation across the two countries, leveraging the countries’ combined 88% mobile penetration rate to transform the financial ecosystem, bringing secure and widely accessible digital banking to the broader market.
Powered by Codebase Technologies‘ award-winning Digibanc™ platform, the fully digital bank will empower Jordan and Iraq’s customers with next-generation banking services such as seamless onboarding, intuitive workflows, smartphone access, and an expansive array of innovative products and services. Digibanc™ is an innovative “Bank-in-a-box” solution that can be integrated with any financial institution’s existing core banking system and be customized to deliver unique digital banking products and services.
On the horizon
As Codebase Technologies continues its impressive growth and focuses on organic expansion and product innovation. In addition, the company continues to enhance its strategic partnerships across the globe with a focus on BNPL, Open Finance, BaaS, Instant Lending, Credit-as-a-service, and more, helping today’s new age of financial institutions succeed and grow in a dynamic and ever-changing market.