Dubai, UAE – Codebase Technologies, a global leader in open API banking solutions, has partnered with IDWise, a pioneer in AI-based identity verification, to help financial institutions in the MENA region tackle fraud and identity theft. This collaboration integrates IDWise’s advanced AI-driven eKYC technology into Codebase Technologies’ Digibanc platform, providing financial institutions with a cutting-edge solution to the challenges of digital identity verification.

By leveraging IDWise’s AI technology, the Digibanc platform empowers banks and fintechs to detect and prevent fraudulent activities, ensuring a seamless, secure, and compliant onboarding process. The AI algorithms can process over 13,000 government-issued IDs from 190 countries, with an impressive 95% first-time acceptance rate, even under challenging conditions such as low-quality ID images or varying device capabilities. This integration has led to a remarkable 40% reduction in fraud-related incidents across the region.

“The integration of IDWise’s AI-based technology into Digibanc is another step in our commitment to staying at the forefront of digital banking innovation,” said Tamer Mauge, Managing Director – MENA at Codebase Technologies. “Our platform is constantly being updated with the latest and most advanced technologies, ensuring that our clients benefit from the most effective tools to combat fraud and enhance their digital transformation journeys.”

In a region where financial institutions face unique challenges with diverse languages, scripts, and document formats, the combined solution offers superior accuracy in identity verification. IDWise’s proprietary algorithms are designed to handle non-Latin scripts such as Arabic, ensuring accurate and reliable data extraction. The advanced AI also excels at detecting subtle signs of fraud, dramatically improving the onboarding security for financial institutions. The advanced solution has already been implemented across a number of key clients in key MENA geographies.

“Through our partnership with Codebase Technologies, we are enabling banks and financial institutions in the MENA region to overcome the typical challenges associated with identity verification, from document quality to the risk of fraud,” said Baha Arab, Co-founder & CEO of IDWise. “By integrating our AI-based eKYC technology into the Digibanc platform, we are helping institutions stay ahead of fraudsters while delivering a seamless user experience.”

The Digibanc platform, augmented with IDWise’s AI-powered identity verification technology, is not only reducing fraud but also ensuring financial institutions comply with the stringent regulatory frameworks in the MENA region. By streamlining the eKYC process, financial institutions are reducing operational costs by up to 50% while delivering faster, more secure digital onboarding.

As digital transformation in the financial sector continues to accelerate across the MENA region, Codebase Technologies and IDWise remain at the forefront of innovation, helping banks and fintechs meet the increasing demand for secure, compliant, and efficient identity verification solutions.

About Codebase Technologies 

Codebase Technologies is one of the world's fastest-growing open API banking solution 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 startups.

Codebase Technologies has launched several digital, challenger, and neobank financial propositions worldwide with a proven success rate and unparalleled speed to market, exponentially growing 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 IDWise 

IDWise is a premium B2B SaaS regtech company specializing in delivering next-generation AI-powered identity verification, e-KYC, and fraud prevention solutions. Our enterprise-grade platform, developed entirely in-house by a team of industry pioneers—including ex-IDScan, ex-GBG, and ex-Facebook experts, as well as patent holders in biometrics—offers a fully automated, country and cloud-agnostic solution. This robust platform is designed to meet the unique demands of high-complexity and high-risk markets globally.

Recognized twice in Gartner’s Enterprise Buyer’s Guide for Identity Verification (ID&V), IDWise stands out among a select group of globally leading identity verification vendors for its innovative and forward-looking product strategies. We focus on some of the largest and fastest-growing markets that are underserved by traditional incumbents.

We serve tech scale-ups and Tier 1 enterprises across various sectors, including financial services, telecommunications, insurance, and e-commerce. Trusted clients like Alrajhi Bank, Arab Bank, StashAway (the largest and fastest-growing digital asset manager in APAC), UBER’s MENA subsidiary Careem, and Gulf Insurance Group rely on our cutting-edge technology to streamline customer onboarding, prevent fraud, ensure regulatory compliance, and maintain the highest standards of data security.

IDWise’s platform supports over 13,000 government-issued IDs across 190 countries, offering unparalleled accuracy and flexibility. Our fully proprietary technology, combined with industry-leading first-time acceptance rates and seamless integration, empowers enterprises to strike the delicate balance between security, user experience, and regulatory compliance.

Our deep understanding of regional regulations and ultra-fast adaptation to them further position IDWise as the premium choice for enterprises aiming to excel in digital transformation and identity verification, particularly in complex and high-risk markets worldwide.

For more information visit https://www.idwise.com/

For Media Inquiries
Tom Romanski
Brand & Communications Lead
Email: romanski@codebtech.com