Codebase Technologies: Driving Digital Innovations for the Financial Industry

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Raheel Iqbal, Magaging Director, Codebase Technologies

During the past decade, technology has transformed the way things are done. People no longer rely on traditional methods and means for their businesses or social purposes. Technology in business is a growing necessity. As the years go by, the business world is moving towards highly advanced technology for better business. 

Innovation breeds business and technology paves the way for it. All the major industries would fall into a catastrophic collapse if technology was taken away since majority of business operations and transactions rely on advanced technology.

The wind of change that comes with technology has blown on to every sector, and banking is no exception. Over the years, we have noticed the banking sector move from a manual form of operations to digital. The impact has been profound impacting every part of banking. Gone are the days of standing in endless lines to deposit or cash a check. Thanks to the technology solution providers in the industry. 

Codebase Technologies is a long-established technology service provider that practices innovation at its core. It started as a company that seeks to solve the issues that traditional BFSI banking technology providers were struggling with. Since its inception in 1998, the company has been engineering traditional enterprise banking systems to behave as to how business units and how the professionals within the finance sector intend them to be. Started with traditional core banking systems with a small team of tech and business professionals who understood how technology and banking worked. Over the years, the company has not only evolved as a technology product and service provider but has also become a technology RnD think tank catering to the struggles that modern financial institutions go through.

Innovation at the Forefront

Fortifying their stance on being innovators and pioneers in the banking and technology space, Codebase technologies developed various proven and implemented technologies throughout the course of their tenure to support institutions in customer on-boarding, enterprise middleware, payment infrastructures and solutions, asset management and distributions, channel alignments and deployments, and multiple core banking products. This eventually led to the birth of Codebase Technologies’ flagship platform ensemble, Digibanc™. It is the most comprehensive one-stop-shop ‘bank in a box’ platform that enables any institution to pursue its ambitions for digital banking at a fraction of the cost and time. 

Apart from this, Codebase Technologies also offers an array of innovative products that sets it apart from its competitors. While its Core banking systems help to optimize operational efficiency, reduce costs, and ensure compliance and rapid time to market, its Middleware stack is able to confirm any legacy system requirement or architecture without any interruptions to the expected BAUs. 

DigiPay is another innovative payment solution offered by the company to help set up organizations seeking to explore the payments space for easy and intuitive facilitation of the services and functions that would normally be achieved by marrying various systems. In addition, Codebase Technologies provides Digibanc Identity, customer on-boarding, e-kyc profiling system, and Digibanc Agent Banking system which enables banking institutions to allow customers with geographical limitations to access their banking experience.

Not limited to the products above, Codebase Technologies has created products for various industries such as healthcare, government, payments, and digital bank enablers. 

Winning over Challenges

Mr. Raheel Iqbal, Managing Director of the company says, “Our understanding of the challenges that modern businesses face is not limited to technology but to the perception and resistance to change.” He further adds that the organizations, who are most accepting and receptive to the challenges, are the ones who tend to respond positively to digital transformation as opposed to those who don’t.

The technology created by the company specifically for the banking industry can also be used for other industries moving to modern architecture. Thusly, it follows an out of the box approach when combating market-driven evolution. An organization that struggles with its existing ways of doing business always seeks help to support it in the brainstorming process of how it can improve and create new momentum. At the cusp, it starts with customer engagement and works its way through back end processes and systems. Finally, it aligns with a solution that encompasses the acceptance of digital transformation with the relevant business cases put together to support the technologies.

 Creating Substantial Value for Clients

In Codebase Technologies, clients are considered to be a valuable asset. As much of a contributing factor as the company is to the innovation process, it believes that its clients are just as responsible for helping it innovate. It maintains and encourages equal say to everyone and never assumes a hierarchal structure within projects to avoid strangling the inspiration that brainstorms against teams can foster. It fosters mutual respect for what each individual or department brings to the table, thus avoiding ego-driven roadblocks.

Mr. Iqbal says, “We are an organization that prides itself as ‘family first and work second’.” He adds, “Together with our partners and clients, we have been able to architect a workplace that is at the forefront of innovation.” He further adds, “Our deliberation and hard work are what keep giving us the energy to burn the midnight oil towards a successfully architected digital frontier.”

Gearing Up for Future

Codebase Technologies aspires to be the world’s first technology company and technology think tank that can provide its partner organizations and clients with the ability to go forth and conquer the digital paradigm. 

Mr. Iqbal says, “With outlooks to go publicly listed at the cusp of 2020/21, we see ourselves welcoming new clients and team members as our products mature and prove themselves within the spaces we operate.” 

The company strives to become the household norm for digital banking and aims to ensure that its Digibanc™ ‘bank in a box’ platform empowers the future banks of tomorrow towards pioneering innovative and sustainable growth.

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