Amman, Jordan – Capital Bank of Jordan, one of Jordan’s leading banks with a strong regional presence has launched its new mobile banking app for customers, powered by Codebase Technologies’ Digibanc platform. The launch of the revamped mobile banking experience is a milestone in the long-standing strategic technology partnership between Capital Bank of Jordan and Codebase Technologies. Over the past year both teams have collaborated on the launch of Jordan’s first neobank “Blink” that provides banking services through its smart digital platform, in addition to digital onboarding for Capital Investments – the investment arm of Capital Bank Group.
“Codebase Technologies has been a longstanding and valued technology partner for us. The team’s in-depth knowledge of software, IT and the nuances of the banking industry have been of immense value on our journey of digitization” commented, Izzidin Abusalameh, Group Chief Operating Officer, Capital Bank of Jordan.
Leveraging Codebase Technologies’ award-winning Digibanc platform, the two teams have created the first of its kind in MENA, a widget-based banking app experience, inspired by cutting-edge operating systems. Using a component-based development approach by customizing multiple market-ready solutions within the Digibanc platform accelerated the mobile app’s time to market, significantly. Furthermore, the Digibanc platform’s open and agile nature allowed features to be developed and integrated with the bank’s existing core banking system and IT infrastructure for a seamless deployment.
Hani Khalil, Group Chief Digital and Innovation Officer at Capital Bank of Jordan, stated “Codebase Technologies technical know-how and their ability to work under extreme time constraints is really impressive. Their Digibanc platform puts us in a strong position from a business and technology point of view and gives us the flexibility to innovate at scale, now and in the future.”
With a population of over 10 million and just over 8 million active mobile connections, Jordan is a market ripe and hungry for digital services. Furthermore, with only 27% of women and 53% of men having access to a bank account, there is a strong need for digital financial services in the country. By enhancing customer engagement and acquisition through the new digital offering, Capital Bank of Jordan aims to increase its market share and drive growth across the organization.
Mohammed Othman, Group Chief Consumer Banking Officer at Capital Bank of Jordan, added “We’re extremely proud of the new mobile app and the experience our customers will enjoy. The high level of personalization and ease of use is helping us grow our customer base, improve customer retention and acquire new customers, ultimately driving revenues across our business.”
Tamer Al Mauge, Managing Director – MENA of Codebase Technologies, added “The recent mobile app launch is another milestone in our strategic technology partnership with Capital Bank of Jordan. We are honored that Capital Bank of Jordan has placed their trust in us as a longstanding technology partner and chose our Digibanc platform as their solution for multiple projects in their digitization journey.”
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About Codebase Technologies
Codebase Technologies is one of the world’s fastest-growing open API banking solutions fintechs. With a vision to “disrupt the way technology is utilized, for a greater purpose,” the company engineers impactful digital financial experiences for conventional and Islamic banks, fintechs, neobanks, lenders, and start-ups.
Codebase Technologies has launched several digital, challenger, and neobanks and financial propositions worldwide with a proven success rate and unparalleled speed to market, growing exponentially as a digital banking technology pioneer in the global banking industry.
The company’s award-winning DigibancTM fintech platform is a cloud-enabled, API-driven, and highly adaptable digital banking platform allowing institutions to deliver inclusive digital financial experiences. The platform’s open architecture embraces a diverse ecosystem of partners and vendors, driving collaborative experiences across the financial services landscape. Built on a component-based, micro-services architecture, DigibancTM provides a robust and agile environment to launch new financial products and services at speed and scale.
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About Capital Bank Group:
Capital Bank Group is considered one of the top financial institutions operating in the Jordanian and regional markets, with assets of approximately JOD 6.5 billion, while the total equity of its shareholders is nearly JOD 600 million.
Capital Bank Group includes Capital Bank, which since its inception in 1995, has grown to become one of the top financial institutions in Jordan, offering the Jordanian market a comprehensive set of commercial and investment banking services and solutions tailored to the needs of retail and corporate clients alike.
In 2005, Capital Bank (Jordan) purchased majority shares of the National Bank of Iraq (61.85%), which enabled NBI to develop its products and services, strengthen its foothold and enhance financial inclusion at the country level, support export activities and provide all services to Jordanian companies operating in Iraq. In 2021, the National Bank of Iraq continued to realize its expansion strategy by launching its operations in the Kingdom of Saudi Arabia to provide financial and trade services to its corporate clients.
As for Capital Investments, it is a wholly owned subsidiary of Capital Bank established in 2006 and is set as a regional leader in providing comprehensive investment banking services that include asset management, brokerage as well as corporate financial advisory. The company serves a diverse array of local, regional, and international clientele, including major corporations, government entities, and high-net-worth individuals through its offices in Jordan and the United Arab Emirates / Dubai International Financial Center (DIFC).
Further building on its ambitious expansion strategy, Capital Bank Group also acquired Bank Audi’s operations in both Jordan and Iraq in 2021 and followed that milestone in 2022 with the acquisition of the branches and operations of Société Générale Bank in Jordan, strengthening its competitive position in the Jordanian banking market. In early 2022, Capital Bank launched its digital bank – Blink, to re-imagine the way people conduct their banking operations, targeting young individuals.
In June 2022, Capital Bank Group increased its capital and took in the Saudi Public Investments Fund – one of the largest sovereign funds worldwide – as a strategic partner with a 23.97% stake, a milestone which will enable the Group to implement its expansion strategy and introduce new products and services to meet the needs of its clients and benefit its shareholders.
For more information, please visit the Capital Bank website: www.capitalbank.jo
For more information contact:
Tom Romanski
Branding and Communications Lead
Codebase Technologies
Email: [email protected]
Orayb Akeel
Corporate Communications & CSR Manager
Capital Bank of Jordan
Email: [email protected]
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