Kaspersky has entered into a Memorandum of Understanding (MoU) agreement with Codebase Technologies, the UAE-based digital banking and fintech provider with presence in the Middle East, with a view to exploring mutual opportunities for joint delivery of secure and integrated digital banking and fintech services in the region.
The partnership is expected to bring together the Digibanc digital banking platform of Codebase Technologies, its knowledge of implementation and presence in the market across the regions, and Kaspersky with its sophisticated cybersecurity solutions to help banks, financial organizations, fintech, and regulated companies navigate more intricate cyber risk landscapes.
Within the MoU, the two parties will evaluate opportunities to improve the security, resilience, and regulatory compliance of digital banking and fintech settings.
The collaboration is aimed at resolving the most critical cybersecurity issues in the field of digital financial services, such as critical systems protection, fraud deterrence, sensitive data security, and customer-facing operations protection.
Through the coordination of their respective strengths, Kaspersky and Codebase Technologies intend to assist organizations in integrating cybersecurity more fully into their digital banking platform, making certain that protection is integrated at the platform level, as opposed to being a separate layer.
Rashed Al-Momani, general manager at Kaspersky Middle East, said, “Financial institutions are operating in an increasingly complex threat landscape, where cybersecurity must be an integral part of digital banking platforms from the outset. Through this collaboration with Codebase Technologies, we aim to explore how our cybersecurity expertise can complement advanced digital banking solutions such as Digibanc to help organizations better protect their operations and customers.”
Tamer Al Mauge, managing director – MENA at Codebase Technologies, commented, “Cybersecurity is a critical pillar of modern digital banking and fintech services. By working with Kaspersky, we plan to assess opportunities to enhance our Digibanc platform with advanced security capabilities that address regulatory, risk management, and operational requirements across our target markets.”
The MoU creates a formalized system of cooperation, allowing the two companies to unite technical knowledge and market data to assist financial institutions throughout the Middle East.
The collaboration underscores the increased demand for security-by-design solutions in the face of increasing digitalization and intensified regulation of banks and fintechs as they face greater regulatory challenges and evolving cyber threats.
