Manama, Bahrain: Codebase Technologies (CBT), a global API banking solutions provider, has been selected by Kuwait Finance House Bahrain (KFHB), a pioneer in the global Shari’a banking space, to expand the bank’s digital market leadership with a streamlined regulatory reporting platform to enhance transparency and automate backend compliance operations.
As banking and financial technologies have evolved in parallel with central bank regulations, internal processes and protocols within these institutions have struggled to keep pace. Leveraging the technological advancements achieved through its partnership with CBT, KFH sought the banking solutions provider’s expertise in establishing an automated, flexible platform for regulatory reporting.
KFH’s new regulatory reporting capabilities are enabled by Digibanc™ RegReporting, a fully automated, end-to-end regulatory reporting platform that seamlessly integrates with multiple data sources and streamlines backend processing. The implementation will enable KFH to flexibly and rapidly respond to an ever-evolving regulatory environment while ensuring compliance and consistent, precise reporting.
Yousif Alhammadi, Executive Manager, Head of Financial Control & Administration at Kuwait Finance House Bahrain, said: “Technology’s expanding role in banking and finance will only continue to push institutions to widen their technological footprint. Partnering with the right technology enabler is where the advantage lies for institutions. Codebase Technologies consistently helps us evolve ahead of the market, empowering us with solutions and innovations that optimize our operations and keep customers coming back.
Raheel Iqbal, Managing Partner & Global Product Head at Codebase Technologies, said: “The efficacy of what Codebase Technologies is capable of is clearly exemplified in how KFH Bahrain has defined itself as a leader in GCC digital banking landscape. We’re proud to be Kuwait Finance House Bahrain’s technology partner of choice to help it achieve its digital ambitions because they enable us to deliver on our mission of demystifying digital financial services, and reshaping the possibilities for the industry.”
About Kuwait Finance House
Kuwait Finance House-Bahrain provides Islamic commercial and investment banking services. Established in 2002 as a wholly-owned subsidiary of Kuwait Finance House (Kuwait) -- an industry leader for 40 years -- KFH-Bahrain specializes in developing and bringing to market the highest quality Islamic compliant banking and investment products, all of which are delivered by a staff of experienced and dedicated professionals with a deep understanding of the market and the clients we serve.
About Codebase Technologies
Codebase Technologies is a leading Global Open API Banking solution provider, at the forefront of enabling banks and financial institutions (both Conventional and Islamic), as well as the emerging Fintech ecosystem to Demystify Digital Financial Services. We help organizations create and deliver Innovative and Intuitive experiences across customer lifecycle.
With presence and customers across 4 continents, Codebase Technologies with its award-winning suite of products, including the innovative Digibanc™, a comprehensive one-stop ‘Bank in box’, helps its customers unlock the true potential of the next generation of the digital financial eco-system.
To learn more about CBT, please visit: www.codebtech.com
© Press Release 2021