KARACHI: The UAE-based fintech, Codebase Technologies, announced its strategic partnership with Pakistani fintech, Abhi, to introduce innovative Earned Wage Access (EWA) solutions across multiple geographies through Codebase Technologies’ Digibanc platform.
This collaboration signifies a major milestone in advancing global financial inclusion, offering businesses cutting-edge tools to support their employees’ financial well-being.
Recent reports indicate that approximately 76 percent of workers live paycheck to paycheck, and over 60 percent of employees experience financial stress that directly impacts productivity and job satisfaction.
Furthermore, with 1.7 billion people worldwide lacking access to formal financial services, the need for accessible financial solutions is more critical than ever. The collaboration between Codebase Technologies and Abhi addresses these pressing issues, providing an alternative to high-interest loans and costly credit options.
On this development, Raheel Iqbal, Managing Partner of Codebase Technologies said that this partnership with Abhi to offer an innovative solution that addresses the financial well-being of employees on a global scale. With Digibanc’s robust platform and Abhi’s cutting-edge EWA technology, we are making a significant stride in driving financial inclusion and enabling businesses to support their employees in a meaningful way, he added.
Abhi’s Co-Founder & COO, Ali Ladhubhai said that partnering with Codebase Technologies represents a transformative opportunity for Abhi to accelerate our mission of democratising access to financial services.
“By leveraging the power of Digibanc’s platform, we are extending these benefits across multiple geographies, giving people instant access to their earnings when they need them most. At the same time, we are enabling businesses to adopt smarter, more efficient ways to manage cash flow, creating a win-win for both employers and employees”, he added.
He said that Digibanc, Codebase Technologies’ award-winning platform, plays a crucial role in making this integration process smooth and efficient.
By integrating Abhi’s solution into Digibanc, Codebase Technologies offers businesses a unique opportunity to support their workforce, reduce financial stress, and enhance overall productivity.
Copyright Business Recorder, 2024
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