Codebase Technologies & Abhi sign partnership to Offer Earned Wage
Access to 1.7 Billion Unbanked Worldwide
The UAE-based fintech Codebase Technologies announced its
strategic partnership with 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% of workers live
paycheck to paycheck, and over 60% 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.
Raheel Iqbal, Managing Partner of Codebase Technologies, stated: “We
are thrilled to partner 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.”
Abhi’s Co-Founder & COO, Ali Ladhubhai added: “Partnering with
Codebase Technologies represents a transformative opportunity for Abhi
to accelerate our mission of democratizing 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.”
Digibanc, Codebase Technologies’ award-winning platform, plays a
crucial role in making this integration process smooth and efficient.
With its flexible, scalable, and fast-to-market approach to creating
and launching digital financial products, Digibanc allows for seamless
API-based integrations. 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. Abhi allows employees to access up to 50% of their
accrued salaries instantly, providing a reliable safety net for
unexpected expenses or emergencies.
Founded in 2021, Abhi is promoting financial inclusion across the
region, serving Pakistan, UAE, and KSA with its innovative
credit-bridging products. Codebase Technologies has a proven track
record of helping key banking clients launch advance salary and early
wage access programs in the MENA region, promoting employee wellness
and financial inclusion.
