Codebase Technologies, a UAE-based fintech platform provider, has launched its ‘Digibanc SME Financing’ platform to address the needs of underserved Micro, small, and medium-sized enterprises (MSMEs) across MENA and APAC.

Through the new launch, Codebase Technologies, with offices across MENA, Africa and APAC, will provide financial institutions with a tailored platform to launch a variety of SME financing products and services such as digital supply chain financing products, BNPL for business, working capital loans, and much more, across key geographies.

The fully automated and digital solution, built using its own proprietary tech platform called Digibanc to help address the market gap, enables 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, SMEs can orchestrate and launch their own front-to-back, cloud-based, and frictionless business financing solutions.

Omar Mansur, managing director, APAC, at Codebase Technologies, discussed the launch: “With the launch of our new digital supply chain financing platform, Codebase Technologies is set to revolutionise the way SMEs in the MENA, African and APAC markets manage their finances and growth. This isn’t just a step forward; it’s a leap into the future of business financing.

“By harnessing the power of cutting-edge technology, we are breaking down traditional barriers to financial access and creating a more inclusive, efficient, and resilient economic landscape. Our platform is designed not just to meet the immediate needs of businesses, but to propel them into new realms of possibility and opportunity. This is more than an innovation; it’s a transformation that will redefine the contours of digital finance in these dynamic regions.”

The global supply chain finance market was valued at $6billion in 2021 and is projected to reach $13.4billion by 2031, growing at a CAGR of 8.8 per cent from 2022 to 2031. Globally the financing gap for formal MSMEs is an estimated $5.2 trillion and for informal MSMEs its $2.9trillion.

A global issue

MSMEs run 70 per cent of the world’s GDP and play a significant role in shaping growth, innovation, and recovery in the global economy. Despite this, the Alliance for Financial Inclusion revealed that over 65 million formal MSMEs were facing credit constraints and inadequate access to financing for growth worldwide in 2021.

Tamer Mauge, managing director, MENA, also 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.”

With the agility of Digibanc, the new supply chain financing platform empowers financial institutions to launch 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 as well as real-time analytics, alerts, notifications and more.