With offices in MENA, Africa, and Asia, Codebase Technologies is expanding its offering to offer financial institutions a customized platform for the introduction of a range of SME financing products and services, including working capital loans, BNPL for businesses, digital supply chain financing products, and much more, in strategic regions.

Banks, lenders, and other financial institutions may now offer comprehensive digital supply chain financing solutions to meet the needs of today's MSMEs thanks to the fully automated and digital solution, which was created utilizing its own proprietary tech platform called Digibanc to assist close the gap in the market. SMEs can plan and implement their own front-to-back, cloud-based, and seamless business financing solutions with the help of the new platform.


The launch was mentioned by Omar Mansur, managing director of Codebase Technologies' APAC region: "Codebase Technologies is set to revolutionize the way SMEs in the MENA, African, and APAC markets manage their finances and growth with the launch of our new digital supply chain financing platform." This is a leap into the future of corporate financing, not merely a step in the right direction.


"We are removing historical obstacles to financial access and building a more equitable, effective, and resilient economic environment by utilizing the power of cutting-edge technology. Our platform is made to help organizations reach new heights of potential and opportunity, not only to satisfy their current demands. This is a revolution that will reshape the landscape of digital banking in these fast-paced areas—it is more than just an innovation.

The supply chain finance market is expected to increase at a compound annual growth rate (CAGR) of 8.8% from 2022 to 2031, from its estimated $6 billion in 2021 to $13.4 billion by 2031. The estimated global finance shortfall for MSMEs, both official and informal, is $2.9 trillion and $5.2 trillion, respectively.
 

A worldwide concern
MSMEs account for 70% of the global GDP and are crucial to the development, innovation, and recovery of the international economy. In spite of this, in 2021 the Alliance for Financial Inclusion reported that over 65 million formal MSMEs faced credit restrictions and insufficient access to funding for expansion globally.

In addition, Tamer Mauge, managing director of MENA, stated: "Instead of figuring out how to build or buy a platform, financial institutions are increasingly partnering with fintechs to launch supply chain financing solutions so they can concentrate on their core offerings of products, underwriting, and funding loans." This strategy eliminates significant development and maintenance costs while reducing client acquisition costs and accelerating the time from conception to execution, particularly when utilizing cloud infrastructures.
 

Financial institutions can now launch compelling corporate customer experiences more quickly thanks to the agility of Digibanc's new supply chain financing platform. Other advantages include real-time analytics, alerts, and notifications, flexible workflows, easy integration with third parties, and on-the-fly product configuration.