Some of the planned BaaS services include digital onboarding with KYC, instant card issuance, digital wallets and payments, micro banking, digital insurance, and more.
Codebase Technologies has announced a strategic partnership with Network International for the MEA region. 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.
By leveraging cutting-edge technology, this partnership will democratize 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.
The Levant region has limited financial inclusion but boasts high internet access and mobile usage. This combination provides 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. This initiative will stimulate startups and new ventures and offer legacy financial institutions an easier and more cost-effective way to digitize their services.
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. 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.”
