Arab Jordan Investment Bank (AJIB) has turned to Codebase Technologies, an open API banking solutions provider, to offer digital onboarding for Jordanians.
Leveraging Codebase Technologies’ Digibanc platform, AJIB plans to launch an innovative digital customer onboarding experience that will incorporate eKYC, ID scanning and customer liveness checks in AJIB’s existing mobile banking app, core banking system, and Jordan‘s National ID database.
According to the two companies, only 43 per cent of Jordanians have a bank account. It hopes the new digital onboarding will offer a digital-first approach that attracts younger generations.
“In a region where most customers are Gen Zs and Millennials, there’s a need, now more than ever, to offer digital banking solutions that can be used from anywhere and at any time,” said Ayman Qadoumi, assistant deputy general manager of IT at AJIB.
“Digital onboarding is critical to modern banking, and the ease of access it provides for customers addresses the acquisition challenge many banks face and broadens banking access for the underserved and unbanked. Codebase Technologies’ Digibanc platform will be instrumental in helping us expand our offering to new customers and ensure our Bank stays at the forefront of innovation.”
The Codebase tech
The Digibanc platform is a cloud-enabled, API-driven, adaptable digital banking platform, built on a component-based, micro-services architecture, allowing institutions to deliver inclusive digital financial services at speed and scale.
Tamer Al Mauge, managing director of MENA at Codebase Technologies, commented: “The innovative power of our Digibanc platform, our experience in successfully delivering numerous digital onboarding propositions in MENA and driving collaborations with third parties in Jordan fintech ecosystem will help ensure a successful project and launch.
We are honored to work with AJIB to bridge the financial inclusion gap in Jordan and help the Bank on its journey of digital transformation.”
Codebase Technologies was recently awarded ‘Best Islamic Finance Solutions Provider’ at the 2022 Global Islamic Finance Awards (GIFA) held in Djibouti in September. In early 2022, the company also launched the MENA region’s first digital bank for financial inclusion Blink with the Capital Bank of Jordan.
Image and article originally from thefintechtimes.com. Read the original article here.