TechMag
Arab Jordan Investment Bank (AJIB), one of Jordan’s leading financial institutions, has partnered with Codebase Technologies, one of the world’s fastest-growing open API banking solutions providers, to launch digital onboarding for resident and non-resident Jordanians. AJIB and Codebase Technologies’ combined experience in the banking and technology sectors will enable millions of customers to easily open a new banking account and access various financial services using a completely digital onboarding process.
Despite high financial literacy rates and deep smartphone penetration across the country, only 43% of Jordanians have a bank account. At a time when banks and fintechs are eagerly competing to offer customers new and unique digital experiences and bank the underbanked Jordanian population, AJIB’s digital onboarding will offer a digital-first approach that attracts younger generations while retaining the Bank’s promise of quality and trust.
Ayman Qadoumi, Assistant Deputy General Manager of IT at AJIB, commented, “In a region where most customers are Gen Zs and Millennials, there’s a need, now more than ever, to offer digital banking solutions that can be used from anywhere and at any time. Therefore, we chose a partner with extensive experience in digital banking and a flexible and robust digital onboarding solution that can help us get to market quickly and enhance our innovation potential.” He added, “Digital onboarding is critical to modern banking, and the ease of access it provides for customers addresses the acquisition challenge many banks face and broadens banking access for the underserved and unbanked. Codebase Technologies’ Digibanc platform will be instrumental in helping us expand our offering to new customers and ensure our Bank stays at the forefront of innovation.”
Leveraging fintech leader Codebase Technologies’ Digibanc platform, AJIB plans to launch an innovative digital customer onboarding experience that will incorporate streamlined eKYC, ID scanning and customer liveness checks – integrating the solution with AJIB’s existing mobile banking app, core banking system, and Jordan’s National ID database.
The Digibanc platform’s microservices-based architecture will accelerate the propositions time to market and establish a technology foundation that will allow AJIB to introduce new digital-first innovations faster than ever.
Tamer Al Mauge, Managing Director of MENA at Codebase Technologies, commented: “We’re very excited that AJIB has selected Codebase Technologies for this landmark project. The innovative power of our Digibanc platform, our experience in successfully delivering numerous digital onboarding propositions in MENA and driving collaborations with third parties in Jordan fintech ecosystem will help ensure a successful project and launch. We are honored to work with AJIB to bridge the financial inclusion gap in Jordan and help the Bank on its journey of digital transformation.”
About AJIB
For more than four decades, Arab Jordan Investment Bank – AJIB has embarked on a journey of excellence and leadership, which has paved the way for the bank to become one of the leading investment and commercial institutions in Jordan. Committed to customer satisfaction, AJIB provides a range of innovative services and state-of-the-art products that meet the needs of all its clients, whether individuals, SMEs or corporations. AJIB continuously develops, updates and upgrades its human resources, providing the latest technologies, best practices and business mechanisms in response to the growing needs of its high-net-worth customers and individuals in Jordan and the region.
Today, AJIB plays a pivotal role in the region’s banking investment scene due to its vast expertise in the field of investment banking, as well as the innovative products and solutions it provides. The Arab Jordan Investment Bank is committed to offering its clients a wide range of integrated banking and investment services, including mergers and acquisitions of assets and activities in the stock market – both primary and secondary markets, as well as investment services in trading and research that relate to shares and markets, granting loans, and financing projects. In addition, the Retail Services and Sales Department continues its efforts to provide numerous products and services for personal and residential loans, credit cards and other innovative services.
The bank serves its customers through an extensive network of 35 branches and offices strategically situated in major population centers and commercial districts around Jordan, some of which are available after regular banking hours as well as on weekends and during holidays. In addition, AJIB’s extensive network of over 70 ATMs distributed across the Kingdom, offers the most advanced electronic services, particularly at Queen Alia International Airport where the bank has exclusive presence inside the airport terminals.
AJIB’s state-of-the-art online and mobile banking channels are available 24 hours a day, seven days a week with exceptional features that allow customers to manage their accounts securely and perform various financial transactions from anywhere at any time.
AJIB’s international footprint includes a branch in Limassol Cyprus licensed to conduct all types of banking operations in Cyprus serving clients in or outside Cyprus, the Arab Jordan Investment Bank (Qatar) L.L.C. which serves as the Bank’s focal point in Qatar and the GCC region, and the Jordan International Bank (JIB), an affiliate of AJIB based in London – United Kingdom and provides banking and investment services for private clients and companies in or outside the UK.
