Empowering MSMEs: Codebase Technologies Unveils Financing Platform

Codebase Technologies, a UAE homegrown financial technology platform provider has announced the launch of its Digibanc SME Financing platform to address the needs of underserved MSME’s across MENA and APAC. Through the new launch, the UAE based fintech, with offices across MENA, Africa and APAC, will provide financial institutions with a tailored made platform to launch a variety of SME financing products and services such as digital supply chain financing products, BNPL for business, working capital loans, and much more, across key geographies. 

“With the launch of our new digital supply chain financing platform, Codebase Technologies is set to revolutionize the way SMEs in the MENA, African and APAC markets manage their finances and growth. This isn't just a step forward; it's a leap into the future of business financing. By harnessing the power of cutting-edge technology, we are breaking down traditional barriers to financial access and creating a more inclusive, efficient, and resilient economic landscape. Our platform is designed not just to meet the immediate needs of businesses, but to propel them into new realms of possibility and opportunity. This is more than an innovation; it's a transformation that will redefine the contours of digital finance in these dynamic regions,” commented Omar Mansur, Managing Director - APAC.

The global supply chain finance market was valued at $6 billion in 2021 and is projected to reach $13.4 billion by 2031, growing at a CAGR of 8.8% from 2022 to 2031. Globally the financing gap for formal MSMEs is an estimated $5.2 trillion and for informal MSMEs its $2.9 trillion. 

However, the segment is still severely underserved in terms of adequate digital solutions that address the needs of many MSMEs. Micro, small, and medium-sized enterprises (MSMEs) run 70% of the world’s GDP and play a significant role in shaping growth, innovation, and recovery in our global economy, yet the Alliance for Financial Inclusion reported in 2021 that there were over 65 million formal MSME’s across the world that are facing credit constrains and inadequate access to financing for growth.

Tamer Mauge, Managing Director – MENA, added, “Financial institutions are increasingly partnering with fintechs to launch supply chain financing solutions to focus on their core offerings of products, underwriting and funding loans rather than figuring out how to build or buy a platform. This approach lowers customer acquisition costs and shortens the origination to execution timeline, while eliminating substantial development and maintenance costs, especially when leveraging cloud infrastructures.”

Responding to the needs of the sector, Codebase Technologies has launched a fully automated and digital solution, built using its own proprietary tech platform called Digibanc™ to help address the market gap, allowing banks, lenders, and financial institutions to launch comprehensive digital supply chain financing solutions to address the needs of today’s MSMEs. Through the new platform, SME’s can orchestrate and launch their own front-to-back, cloud-based, and frictionless business financing solutions. 

With the agility of Digibanc, the new supply chain financing platform empowers Financial Institutions to launch engaging corporate customer experiences with a faster time to market and benefit from on-the-fly product configuration, flexible workflows, easy integration capabilities with third parties as well as real-time analytics, alerts, notifications and more. 

Also Read: Jordan Kuwait Bank Selects Codebase Technologies’ Digibanc Platform