Interswitch and Codebase Technologies to enhance digital financial services across Africa

By Leandra Monteiro

Interswitch, a leading technology-driven company focused on the digitization of payments in Africa, announced a new strategic partnership with Codebase Technologies (CBT), a leading 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’ 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.

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 to 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 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 & Managed Services, Jonah Adams commented, “Africa is at the forefront of digitization, with the fintech market across the continent rapidly evolving. There is also an 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 stated, “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 the 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.”