Areeba, a Lebanese fintech and payment company, has announced a collaboration with Codebase Technologies to address the growing demand for banking-as-a-service (BaaS) solutions across the Middle East.
Codebase Technologies is a UAE-based digital banking solutions provider.
The joint effort seeks to empower banks and fintech companies with comprehensive BaaS solutions, enabling them to quickly deploy new financial products and services tailored to meet user needs in the region.
By combining Codebase Technologies’ cloud-native software-as-a-service (SaaS) platform with Areeba’s payment infrastructure, the partnership aims to facilitate the introduction of digital banking services and card issuance.
The integrated approach is designed to allow financial institutions to bring products to market more swiftly and cost-effectively, while also promoting financial inclusion and advancing innovation within the digital finance sector.
Codebase Technologies MENA managing director Tamer Mauge said: “We pride ourselves on being more than just a technology provider, we are advisors and partners, with deep-rooted expertise in the Middle East’s banking and fintech landscape.
“Our Digibanc platform was built to deliver the flexibility, scalability, and speed that today’s digital financial institutions demand. We’re excited to partner with areeba, to help accelerate digital banking innovation across the region.”
According to Areeba, the Middle East has witnessed a marked increase in demand for BaaS due to rapid digital transformation, a youthful demographic, and an uptick in fintech adoption.
With approximately 60% of the population under 25, the region presents a significant opportunity for tech-savvy consumers.
This environment has led to a rise in fintech initiatives as governments and financial institutions look towards digital solutions to meet evolving consumer expectations, thereby driving the need for scalable BaaS platforms, said the firm.
This partnership is said to represent an important development in how financial institutions can launch and expand their digital services, making advanced digital banking capabilities more accessible and cost-efficient across the Middle East.
Areeba CEO Maher Mikati said: “Consumer expectations for digital financial services continue to evolve, and Areeba remains committed to meeting those demands with scalable, innovative solutions.
“By partnering with Codebase, we’re combining strengths to expand digital access and create more agile, impactful offerings for banks and fintechs across the region.”
