Digital banking tech provider Codebase Technologies has announced a partnership with digital commerce enabler Network International to launch a Banking-as-a-Service (BaaS) solution in the Levant region. The collaboration’s plans for the introduction of comprehensive BaaS solutions seek to help expedite digital banking transformation within the area.

BaaS and Codebase Technologies – Network International partnership details Per the announcement, the partnership is set to democratise access to an extensive array of digital solutions and services, enabling corporates, fintechs, and startups to capitalise on innovative digital banking technologies to meet evolving market and customer demands by leveraging advanced tech. In turn, customers are to benefit from a wide range of banking and payment products and digital experiences. The Codebase Technologies – Network International partnership comes as a pivotal moment within the financial technology industry, underlining their commitment to revolutionising banking accessibility throughout the Levant region.

The BaaS initiative is set to change financial institutions in the area, equipping them with extensive end-to-end digital banking, neo-banking, and payment capabilities, all integrated into a swift and cost-effective deployment model seamlessly, paving the way for genuine economies of scale. Some BaaS services that are planned include digital onboarding with KYC, instant card issuance, digital wallets and payments, micro banking, and digital insurance, amongst others. The Levant region is limited in financial inclusion but boasts high internet access and mobile usage, a combination that provides fertile ground for digital banking adoption.

Within this context, the two companies aim to be impactful by providing a range of digital banking services, hosted securely on the cloud, an initiative set to stimulate startups and new ventures and offer legacy financial institutions a way to digitise their services in an increasingly easy and cost-effective manner. When commenting on the announcement, Codebase Technologies representatives expressed excitement towards the transformative journey they embarked on with Network International, stating that their shared vision is set to help reshape the future of banking in the Levant region with the delivery of innovative solutions that foster growth, inclusivity, and ‘advanced digital experiences. More to this point, Network International officials added that they recognise the world is embracing a digital-first approach, and their shared vision is to create a solution that breaks down the barriers to digital transformation, offering companies a cost-effective and faster way to digitise and innovate.

Per their statement, the BaaS solution is set to provide startups and fintechs with an easier path to market for digitisation and ensure their ability to pursue long-term product and service development. More on Codebase Technologies An open API banking solution fintech firm, Codebase Technologies seeks to disrupt how technology is utilised for a greater purpose, engineering digital financial experiences for conventional and Islamic banks, fintechs, neo banks, lenders, and startups. .