Codebase Technologies has announced the launch of its Digibanc SME Financing platform to address the needs of underserved MSMEs. Digibanc will provide financial institutions with a tailored platform to launch various SME financing products and services, such as digital supply chain financing products, BNPL for business, working capital loans, and much more, across key geographies.
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 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 front-to-back, cloud-based, and frictionless business financing solutions.
With Digibanc’s agility, financial institutions will now be able to offer 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, real-time analytics, alerts, notifications, and more.
