By Delisha Fernandes
A digital banking technology provider, Codebase Technologies unveiled its strategic partnership with Network International, an enabler of digital commerce across the Middle East and Africa.
Through this strategic collaboration, the two companies plan to launch 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.
“We’re excited to embark on this transformative journey with Network International,” said Managing Director – MENA at Codebase Technologies Tamer Al Mauge. “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.”
By leveraging technology, this partnership will democratise access to a broad array of digital solutions and services, enabling corporates, FinTechs, and startups to capitalize on innovative digital banking technologies to meet evolving market and customer demands. In turn, customers will benefit from an extensive range of innovative banking and payment products and digital experiences.
Codebase Technologies and Network International’s partnership signifies a pivotal moment in the financial technology industry. The BaaS initiative 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.
Regional Managing Director, Processing – Levant at Network International Amjad Al-Sadeq said, “We recognize that the world is already embracing a digital-first approach. Our shared vision is to create a solution that breaks down the barriers to digital transformation, providing companies with a cost-effective and faster way to digitize and innovate. The BaaS solution will offer startups and FinTechs an easier path to market for digitization and ensure their ability to pursue long-term product and service development.”
