Digitization in Africa accelerated by Codebase Technologies and Fortek Partnership

Advancea budding Ghanaian provider of financial platform services, announced a strategic partnership with Code base Technologies, an open API provider of banking solutions. The two companies share a vision to accelerate digitization to stimulate entrepreneurship in Africa. They want to grow the economy by meeting the growing demand for affordable, accessible and transparent digital financial services in the region.

Fortek was born out of the desire to inspire development and financial inclusion by enabling established financial institutions, fintechs and other companies to bring new financial solutions to the market. Through this partnership, Fortek will leverage Codebase Technologies’ Digibanc SaaS platform to expand its existing services. It will also give new fintechs, banks and start-ups faster and more cost-effective speed to market for launching digital products and services.

Digibanc SaaS, hosted by Fortek, will allow new financial services brands to launch innovative services. They will be able to enter the African market faster, as well as compete with cheaper, advanced technology. As a result, this will help drive innovation across Ghana and the continent, thereby promoting greater financial inclusion for over 1.4 billion Africans.

Felix Quarcoe, CEO – Fortek, commented on the partnership: “Our goal since day one has been to drive financial inclusion and development to accommodate Africa’s growing economy. We want to fill the gaps that traditional institutions have ignored for so long.

Objectives of the partnership

“We are creating a solution that will help anyone, anywhere, anytime, and working with a like-minded technology partner like Codebase Technologies confirms that we are moving in the right direction. This partnership will allow us to push the digital banking landscape forward , and meet the current and future needs of our customers. As a result, we are confident that the team will help us address the real and relevant concerns of Ghanaian customers.”

Codebase Technologies’ Digibanc SaaS platform offers a full range of digital banking and fintech components in a legacy and core-agnostic, cloud-based implementation model. The platform includes ready-made components that are highly customizable to launch any fintech proposition. This ranges from digital onboarding, omnichannel and instant lending to regulatory reporting, payments, BNPL and more.

Built using ready-to-market APIs and fintech components, the new platform, hosted by Fortek, will give subscribers the flexibility to scale and adapt as customer expectations change, adding, removing and customizing all aspects of an offer or service, on the fly. Working with Codebase will ultimately enable Fortek to offer a comprehensive range of innovative banking, finance and payment products that meet existing and future needs of customers.

Codebase Technologies Commercial Director and Africa MD, Paul Nilsen, added: “If today’s fintechs, neobanks, challengers and enterprises want to effectively address customer pain points, they need to align with their demands, not the other way around. Modernizing their offerings and harnessing the power of today’s technologies like the cloud and APIs to improve customer experience and innovate will be the backbone of success.

“Seeing Fortek connect their already strong offering with our Digibanc SaaS platform is really encouraging. Ultimately, together we see a phenomenal transformation coming and a great future of economic growth and financial inclusion in Ghana and Africa.”