Fortek, a burgeoning Ghanaian financial platform services provider, announced a strategic partnership with Codebase Technologies, an open API banking solutions provider. The two companies share a vision of accelerating digitisation to stimulate entrepreneurship in Africa. They want to grow the economy by addressing the increasing 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 incumbent financial institutions, fintechs and other corporations to bring new financial solutions to the market. Through this partnership, Fortek will leverage Codebase Technologies‘ Digibanc SaaS platform to augment its existing services. It will also empower new fintechs, banks, and start-ups with 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 quicker as well as compete with more affordable state-of-the-art technology. As a result, this will help drive innovation across Ghana and the continent, thereby fostering greater financial inclusion for over 1.4 billion Africans.
Felix Quarcoe, managing director – Fortek, commented on the partnership: “Our goal since day one has been to drive financial inclusion and development to cater for Africa’s growing economy. We want to fill in the gaps that traditional institutions have ignored for so long.
Goals of the partnership
“We are creating a solution that will help anyone, anywhere, anytime, and partnering with a like-minded technology partner like Codebase Technologies confirms that we’re heading in the right direction. This partnership will allow us to push the digital banking landscape further, meeting the current and future needs of our customers. As a result, we are confident the team will help us address the very 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-native deployment model. The platform includes ready-made components that can be highly customised to launch any fintech proposition. This ranges from digital onboarding, omnichannel, and instant lending to regulatory reporting, payments, BNPL and more.
Built using APIs and ready-to-market fintech components, the new platform, hosted by Fortek will allow subscribers the flexibility to scale and adapt as customer’s expectations change, adding, removing and customising all aspects of an offering or service, on the fly. Working with Codebase will ultimately enable Fortek to offer an extensive range of innovative banking, financial and payment products that meet the existing and future needs of its customers.
Codebase Technologies’ commercial director and Africa MD, Paul Nilsen, added: “If today’s fintechs, neobanks, challengers, and corporates want to address customer pain points effectively, they must conform to their demands, not the other way round. Modernising 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 couple their already strong offering with our Digibanc SaaS platform is really encouraging. Finally, together we see a phenomenal transformation coming and a great future of economic growth and financial inclusion in Ghana, and Africa.”