Codebase Technologies, a pioneering digital banking technology provider, today, unveiled its strategic partnership with Network International, a renowned leader in driving digital commerce across the Middle East and Africa. Through the strategic collaboration, the two companies plan to launch of one of the region’s first comprehensive Banking-as-a-Service (BaaS) solutions, set to accelerate the pace of digital banking transformation throughout the Levant region.
By leveraging cutting-edge technology, this partnership will democratize access to a wide array of digital solutions and services, enabling corporates, fintech, and start-ups, to take advantage of innovative digital banking technologies so, they can meet evolving market and customer demand. In turn, customers will benefit from an extensive range of innovative banking and payment products along with preferred digital experiences.
The Levant region has limited financial inclusion but huge internet access and high mobile usage. This is fertile ground for digital banking adoption and the two companies aim to make an impact by providing a range of digital banking services ‘securely hosted on the cloud which will stimulate start-ups and new ventures as well as allow legacy financial institutions an easier and cheaper way to digitize their services.
“We’re excited to embark on this transformative journey with Network International,” said Tamer Al Mauge, Managing Director – MENA at Codebase Technologies. “Our shared vision is to reshape the future of banking in the Levant by delivering innovative solutions that foster growth, inclusivity, and unparalleled digital experiences.
Codebase Technologies and Network International’s partnership signifies a pivotal moment in the financial technology industry, underlining their commitment to revolutionizing banking accessibility across the Levant region.
The BaaS platform is set to revolutionize financial institutions across the Levant region, equipping them with comprehensive end-to-end digital banking, neobanking, and payment capabilities, all seamlessly integrated into a swift and cost-effective deployment model. This paves the way for genuine economies of scale. Some of the planned BaaS services include digital onboarding with KYC, instant card issuance, digital wallets and payments, micro banking, digital insurance, and more.
Amjad Al-Sadeq, Regional Managing Director, Processing – Levant at Network International added, “We recognize that the world is already embracing a digital-first approach. Our shared vision is to create a solution that brings down the barrier of digital transformation and gives companies a cost-effective and faster way to digitize and innovate. The BaaS solution will provide startups and fintechs with an easier path to market for digitization and guarantee their ability for long-term product and service development.”