Codebase technologies and payment components enable open banking and payments capabilities in MENA.

Codebase Technologies (CBT), a leading Global Open API Banking Solutions provider, and PaymentComponents, a global leader in B2B payments and fintech solutions, have entered into a strategic alliance to further drive the Open Banking initiative in the Middle East and North Africa.

As regulators around the world implement new open banking frameworks and initiatives, banks and financial services providers in the MENA region are developing new ways to utilize open banking to evolve how robust use of customer data can enable more innovative products and services to better serve customers.

This partnership is the evolution of CBT's drive to empower current and future Digibanc customers in the MENA region with a more expansive range of open banking components and solutions through its association with the MENA Open Banking Working Group. CBT's strategic alliance with PaymentComponents will enable current and existing Digibanc(tm) customers with a wider range of Open Banking and payments APIs that include Single Euro Payments Area (SEPA), SWIFT connectivity services, and simplified operations through Account Aggregation capabilities.

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