Codebase partners Network International to launch BaaS solution in the Levant
Open API banking solution provider Codebase Technologies has partnered with Network International, a digital commerce company based in Dubai, UAE, to launch a Banking-as-a-Service (BaaS) solution for corporates, fintechs and start-ups operating in the Levant.
With a view that the region is impeded by “limited financial inclusion”, the BaaS solution seeks to democratise access to digital banking technologies for providers and connect end consumers to a wider availability of banking and payment products.
Some of the initial features expected to feature in the cloud-based solution’s launch include digital onboarding with Know Your Customer (KYC), card issuance, digital wallets and payments, micro banking and digital insurance.
Amjad Al-Sadeq, Network International’s regional managing director of processing for the Levant, touts the solution as a means to “break down the barriers to digital transformation”, and emphasises how engaging companies will benefit from “an easier path to market for digitisation” and the ability to pursue “long-term product and service development”.
Codebase’s participation in the partnership marks its latest attempt to advance digital banking services in the Levant region. The company, which is headquartered in Ontario, Canada, has previously collaborated with Credit Libanais and Visa to drive financial inclusion in Lebanon, and was involved in the launch of Capital Bank of Jordan’s mobile banking app last year.