Capital Bank of Jordan has revealed the latest benefit from its partnership with Codebase Technologies – a fully-digital onboarding process for investments and brokerage customers.
Capital Investments, the bank group’s dedicated investment arm, is using Codebase Technologies’ Digibanc platform to support the digital onboarding solution.
Investment platforms and accounts face a problem that is common in the banking and financial services industry. More than 80 per cent of customers abandon the account opening process due to a range of complications during the onboarding process.
Projected to grow to $3.43trillion by 2030, the wealthtech industry is dwarfing conventional investment channels due to the ease by which both new and seasoned investors can sign up, manage and transact.
“Our Capital Investments trading platform provides customers with a simple and easy way to invest in stocks and currencies, locally, regionally, and internationally. Implementing digital onboarding for Capital Investments will expand our access to investors while accelerating our digital acquisition strategy,” said Izzidin Abusalameh, group chief operating officer at Capital Bank of Jordan.
“Our strategic technology partner, Codebase Technologies, has been instrumental in realising these ambitions.”
Tamer Al Mauge, MD of MENA at Codebase Technologies, added: “We are honoured that Capital Bank Group has once again chosen us as a key strategic technology partner for its digital transformation objectives. Customer onboarding for investment accounts has been a challenge in the industry, and we are excited to help Capital Investments overcome it. Our digital onboarding solution provides a highly customer-centric, streamlined process that will accelerate the growth of its investment business.”
Over the past year, both teams have collaborated on the launch of Blink, Jordan’s first neobank, as well as a reworked mobile banking app.
