Interswitch, Codebase partner to accelerate digital financial services

Interswitch Group, Africa’s technology-driven company, with a focus on the digitization of payments in Africa, has announced a new strategic partnership with Codebase Technologies (CBT), a global open API banking solution provider, to accelerate the digital banking transformation across the African continent.

With a shared vision of helping Africa’s financial institutions and customers make the transition to digital banking, Codebase Technologies’ award-winning Digibanc SaaS platform is the perfect complement to Interswitch’s existing payments and digital banking offering; and together, the partnership will help broaden access to financial services for Africans, driving greater financial inclusion across the continent, both companies said in a statement.

Digibanc SaaS, hosted by Interswitch, will enable financial institutions in West and East Africa with full front-to-back SaaS capabilities through a rapid and cost-effective deployment model, allowing true economies of scale. Working with the Codebase Technologies team will help Interswitch broaden its current digital offering, whilst leveraging Interswitch’s brand recognition to increase the reach and visibility of Digibanc SaaS in Africa.

The partnership will also enable banks, fintechs and other corporates to take advantage of new, leading technologies so that they can continue to meet the evolving market and customer demand. In turn, customers will be able to access an extensive range of innovative banking and payment products that meet their existing and future needs.

Interswitch’s Divisional CEO for Digital Infrastructure and Managed Services, Jonah Adams commented, said: “Africa is at the forefront of digitization, with the fintech market across the continent rapidly evolving. There is also increasing consumer demand for new, more accessible products and services, and for Interswitch, continuing to innovate and enhance our product propositions is critical. We are excited to partner with Codebase Technologies, bringing with them next-generation technological capabilities and expertise, as we continue our mission to increase access to financial services and drive financial inclusion across Africa.”

Codebase Technologies’ Commercial Director and Africa MD, Paul Nilsen, said: “We look forward to working with Interswitch Group and launching this new, cutting-edge technology that will redefine user-centric, financially inclusive financial services and help spur innovation, economic growth, and increased access. This partnership will capitalize on Interswitch Group’s in-depth knowledge of the current needs and direction of financial institutions across the Continent, as well as the progress they have made in the banking and financial services space.”