Capital Bank of Jordan Launches ‘Blink’ digital-only Neobank
Capital Bank of Jordan partnered with Codebase Technologies to build Blink, the first digital-only neobank in Jordan for individuals and expected to be available for small businesses later.
The project officially commenced in late 2021, and in February 2022, Blink went live for Jordanian customers.
Blink was born out of the belief that “money is meant to be easy; it’s meant to work for people’s best interest, not the other way around,” According to Codebase. In just 15 minutes, Jordanians can open an account with Blink directly from their smartphone with their ID, allowing them access to an instantly issued virtual debit card and account.
A physical card will be delivered to the chosen address of the user. The users can manage their accounts, send and receive money, withdraw money from domestic and international ATMs, and view their transaction history.
Blink also created a brilliant option that is to provide its users with instant credit cards, which are issued within 3 minutes of an application and do not require a salary transfer by the customer.
“Built using Codebase Technologies’ award-winning DigibancTM platform, Blink incorporates an innovative UI system based almost exclusively on swiping – similar to how millennials and Gen Zers interact with social media – the first of its kind for a neobank,” Codebase commented.
Capital Bank of Jordan and Codebase Technologies cooperated to develop Blink’s proposition, user journeys, launch strategy, and overall user experience. Blink’s enhanced agility and efficiency will foster the growth of Capital Bank of Jordan and counter security threats, high operation costs, and lack of transparency, which are critical factors in digital banking from a customer and banks standpoint.
“Blink will disrupt traditional banking by addressing the existing gaps from both banks’ and customers’ perspectives. We’re grateful to Codebase Technologies for being a committed partner and helping us in our journey of building a neobank. The chemistry between both teams was fantastic, and we’re happy the team helped us bring our vision to life so quickly and to such a high standard. We look forward to further growth in the product and expansion to new markets in the future.” Blink CEO Zein Malhas commented.
“The launch of Blink was a huge milestone for Codebase Technologies in Jordan and for the market. Building and launching the first neobank in Jordan is no small feat, and we’re happy to have worked on this with Capital Bank of Jordan. The collaborative effort on this project was really inspiring, and we look forward to continuing our work with Capital Bank of Jordan and their amazing team.” Codebase managing director for MENA Tamer Al Mauge added.
It is known that Capital Bank Group is one of the largest banking institutions operating in the Jordanian and regional markets established in 1995, with assets of 4 billion Jordanian Dinars, while the total rights of its shareholders amount to nearly 400 million Jordanian Dinars.
