AMMAN, JORDAN:– Capital Bank Group and Codebase Technologies expand on their strategic digital transformation partnership by transforming customer acquisitions for Capital Investments, the Group’s dedicated investment arm. Built using Codebase Technologies’ award-winning Digibanc platform, Capital Investments’ digital onboarding solution will introduce Jordan’s first fully-digital onboarding process for investments and brokerage customers.

With the global expansion and adoption of digital fintech propositions, investment firms and banks have recognized the importance of digitalization to keep and grow their business. Projected to grow to US$3.43 trillion by 2030, the WealthTech industry is rapidly dwarfing conventional investment channels due to the ease by which both new and seasoned investors can sign up, manage, and transact.

Izzidin Abusalameh, Group Chief Operating Officer at Capital Bank of Jordan commented, “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. Our strategic technology partner, Codebase Technologies, has been instrumental in realizing these ambitions.”

Investment platforms and accounts face a problem that is common in the banking and financial services industry – over 80% of customers will abandon the account opening process due to a range of complications during the onboarding process.

Codebase Technologies’ approach to digital customer acquisition combines its extensive expertise in developing delightful customer journeys with its powerful technology stack to deliver a streamlined digital process that simplifies the onboarding experience while greatly reducing customer drop-off.

Tamer Al Mauge, Managing Director of MENA at Codebase Technologies commented “We are honored 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.

With a focus on customer-centricity, the digital onboarding journey will leverage Codebase Technologies award-winning Digibanc platform to achieve unprecedented scalability while establishing a flexible platform from which Capital Investments can rapidly introduce new features and processes that further streamline the customer acquisition process.


About Codebase Technologies 

Codebase Technologies is one of the world's fastest-growing open API banking solutions 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 start-ups.

Codebase Technologies has launched several digital, challenger, and neobanks and financial propositions worldwide with a proven success rate and unparalleled speed to market, growing exponentially 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 Capital Bank Group

Capital Bank Group is considered one of the top financial institutions operating in the Jordanian and regional markets, with assets of approximately JOD 6.5 billion, while the total equity of its shareholders is nearly JOD 600 million.

Capital Bank Group includes Capital Bank, which since its inception in 1995, has grown to become one of the top financial institutions in Jordan, offering the Jordanian market a comprehensive set of commercial and investment banking services and solutions tailored to the needs of retail and corporate clients alike.

In 2005, Capital Bank (Jordan) purchased majority shares of the National Bank of Iraq (61.85%), which enabled NBI to develop its products and services, strengthen its foothold and enhance financial inclusion at the country level, support export activities and provide all services to Jordanian companies operating In Iraq.  In 2021, the National Bank of Iraq continued to realize its expansion strategy by launching its operations in the Kingdom of Saudi Arabia to provide financial and trade services to its corporate clients.

As for Capital Investments, it is a wholly owned subsidiary of Capital Bank established in 2006 and is set as a regional leader in providing comprehensive investment banking services that include asset management, brokerage as well as corporate financial advisory. The company serves a diverse array of local, regional, and international clientele, including major corporations, government entities, and high-net-worth individuals through its offices in Jordan and the United Arab Emirates / Dubai International Financial Center (DIFC).

Further building on its ambitious expansion strategy, Capital Bank Group also acquired Bank Audi’s operations in both Jordan and Iraq in 2021 and followed that milestone in 2022 with the acquisition of the branches and operations of Société Générale Bank in Jordan, strengthening its competitive position in the Jordanian banking market. In early 2022, Capital Bank launched its digital bank - Blink, to re-imagine the way people conduct their banking operations, targeting young individuals.

In June 2022, Capital Bank Group increased its capital and took in the Saudi Public Investments Fund – one the largest sovereign funds worldwide – as a strategic partner with a 23.97% stake, a milestone which will enable the Group to implement its expansion strategy and introduce new products and services to meet the needs of its clients and benefit its shareholders.

For more information, please visit Capital Bank website:   

For more information contact:
Tom Romanski
Branding and Communications Lead
Codebase Technologies

Orayb Akeel
Corporate Communications & CSR Manager
Capital Bank of Jordan