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Financial inclusion consulting: We help clients develop and implement strategies for achieving financial inclusion through digital payments and mobile banking.

Next Generation Demand Deposits consulting for banks, financial institutions, fintech and telecommunications companies: We assist banks, financial institutions, fintech and telecommunications companies in developing and launching Next Generation Demand Deposit Accounts that offer a wide range of financial services, including payments, lending, and savings.

Mobile banking solutions for banks, financial institutions, fintech and telecommunications companies: We provide end-to-end solutions for banks, financial institutions, fintech and telecommunications companies looking to launch or improve their mobile banking offerings.

Fintech consulting for financial inclusion: We help clients identify and leverage fintech innovations that can be used to achieve financial inclusion goals.

The banking sector cannot avoid the upheaval caused by technological progress. Retail banking is no longer restricted to bank branches; it is now available via a multitude of channels, including mobile devices. The profitability of conventional banks is endangered by persistently low interest rates, sluggish lending growth, and intensifying retail competition from FinTech and platform rivals. As a result, banks have been forced to adjust their business models. As a result of the use of algorithms, big data, blockchain, peer-to-peer lending, and crowdsourcing, the role of the intermediary is changing. In their core business, banks increasingly face competition from a variety of middlemen and must find a way to counter this if they are to survive. Digital disruption is transforming how services are provided in the market, but it may also be the answer to some of the previous problems with financial market competitiveness, such as high switching costs and high transaction costs. There have been attempts to implement digital banking and online banks to address some of these issues or leap-frog over traditional banks, but those in the financial industry are aware that these attempts have been abject failures.

Digital competitors have begun to intrude on the core operations of traditional banks, which includes payment services, lending, and advice services. FinTechs have the benefit of leveraging cutting-edge technology, running leaner operations, and focusing on business areas with higher returns, but they face disadvantages such as a lack of brand recognition and reputation, a lack of a client base, restricted access to financial markets, and a lack of basic customer background information. Now, new competitors, the BigTechs, are venturing into the financial services industry. These include retail giants such as Tesco and Amazon as well as BigTech companies such as Apple, Google and Twitter. BigTechs can utilize client data in conjunction with their cutting-edge digital technology and artificial intelligence capabilities.

Jamie Dimon, CEO of JPMorgan Chase, one of the world's major banks, has underlined the significance of banks keeping pace with the rapid expansion of the fintech and digital payments landscape in several interviews and pronouncements. He has observed that FinTech startups are disrupting the traditional banking model and that banks must change to remain relevant. Additionally, he has emphasized the necessity for banks to invest in technology and digital skills in order to fulfill the evolving needs of clients. In a 2018 interview with CNBC, Dimon stated "I believe that the old banking paradigm is currently being challenged by technology on a global scale... Banks must adapt accordingly. The organization must invest in technology and digital capabilities". In a 2019 shareholder letter, Dimon also stated: "Technology businesses and new entrants offer an expanding range of financial goods and services. This is increasing competition, which is beneficial for consumers." And that "We are investing in technology and digital capabilities to suit the evolving needs of our customers and maintain our competitive edge”. Later, in 2020, he stated, "The fintech companies are approaching, and they will do some of the functions of banks... We will have to compete against them ".

These words demonstrate that the CEO of one of the world's largest banks recognizes the need of banks to keep pace with the rapid evolution of the FinTech and digital payments landscapes. He believes that banks must invest in technology and digital capabilities in order to remain competitive and satisfy the evolving needs of their clients.

The financial services industry is therefore in a "Do or Die" predicament. At CodecaX, we consult and work with our customers on how to "Do" and provide them with the means to do it. The success of the CodecaX Next Generation Demand Deposit Accounts proves that this works.

The CodecaX Next Generation Demand Deposit Accounts incorporates instant real time payment rails. Instant real-time payment rails are systems that provide the instantaneous movement of funds between parties through electronic transactions. Banks and other financial organizations can operate our system which employs a variety of technologies including real-time gross settlement (RTGS) and a digital wallet. Unlike traditional banking systems, which may take several days to conduct a transaction, it permits the near-instantaneous transmission of funds. This is particularly advantageous for users, banks, financial institutions and companies that want to transfer payments fast.

One of the goals of most governments and central banks throughout the world is to expand the financial inclusion of the public. This is one of CodecaX's and our clients' primary objectives. Financial inclusion refers to activities to make financial services and products accessible and affordable to all individuals and enterprises, irrespective of their wealth or size. Financial inclusion seeks to reduce the barriers that prevent individuals from interacting with the financial system and utilizing its products to improve their lives.

See https://www.worldbank.org/en/topic/financialinclusion/overview

CodecaX has developed our Next Generation Demand Deposits ecosystem using financial technology and software engineering to provide innovative solutions to the issue of access to financial services, offering a new channel for individuals and organizations to get the services they need at reasonable prices. This has been demonstrated by the impact that KBZPay has had on financial inclusion in Myanmar.

One of the persistent issues that banks, financial institutions, fintech and telecommunications companies face is compliance with Central Bank and other regulatory requirements on KYC, fraud, AML and AFT. The CodecaX Next Generation Current Account ecosystem addresses these issues by using biometric facial recognition software to register and then identify the user, monitoring and analysing transactions with ease.

The facial recognition software CodecaX uses is technology that employs artificial intelligence and machine learning algorithms to study and compare facial feature patterns in order to identify a user. The software functions by collecting a photograph of a person's face, then analyzing it to extract facial traits such as the distance between the eyes, nose, and mouth, and the curvature of the jawline and cheekbones. The subject is identified when registering by comparing these attributes to an official photo on an ID card or passport and the account linked to a single mobile number. This performs KYC, eliminates the possibility of multiple accounts, dramatically reduces fraud and is a powerful tool against AML and AFT.

A SuperApp is, to put it simply, a single app that contains many other apps. These other apps reside under the SuperApp. The SuperApp handles multiple requirements the user can have in a single location. This lessens the requirement to download several apps to carry out various tasks. SuperApps offer a wide range of features, including social networking, shopping, banking, and more. Mike Lazaridis coined the phrase SuperApp in 2010. The SuperApp was envisioned as a marketplace with a variety of offerings. Mike Lazaridis listed the following key components for a SuperApp, all of which apply to the CodecaX mobile money ecosystem:

Daily use that is-

(1) seamless;

(2) integrated;

(3) effective;

(4) efficient; and

(5) contextualized.

See further: https://www.amity.co/blog/super-app-the-new-age-of-mobile-disruption-is-here

China has long been a trailblazer in the field of digital payments, with mobile payments accounting for a major share of the country's transactions. However, the rise of SuperApps in China has taken this trend to new heights, altering how individuals and businesses access financial services and make payments. WeChat, which is owned by Tencent and began as a messaging app but swiftly expanded into a full-fledged SuperApp with over a billion monthly active users, is the most notable of these SuperApps. Alipay (owned by Alibaba) and JD.com are two more famous SuperApps in China, each with its unique capabilities and user base.

The emergence of SuperApps in China has had a major effect on the payments landscape, making it easier and more convenient for customers to conduct transactions and gain access to financial services. The disappearance of cash and regular bank cards is one of the most important alterations brought about by SuperApps. According to the People's Bank of China, mobile payments accounted for more than 80 percent of all transactions in China in 2020. This transition has been driven in large part by the popularity of SuperApps, which have made it simple for users to link their bank accounts with their mobile devices and make payments.

In China, SuperApps have also played a significant role in promoting financial inclusion. SuperApps have made it easier for underserved and underbanked communities to obtain financial services by providing a wide range of financial services, such as savings and loans, within a single app. This has aided in bridging the gap between urban and rural communities and had a good effect on the economy as a whole.

The emergence of SuperApps in China has transformed the payments landscape, making it simpler and easier for customers to conduct transactions and gain access to financial services. SuperApps have played a crucial part in the digital transformation of the nation by pushing the shift to mobile payments and increasing financial inclusion. The success of SuperApps in China is instructive for other nations seeking to enhance their digital payments infrastructure and promote financial inclusion.

Most available mobile banking systems are merely based on a single, simple app, without biometric KYC and ease of Fraud, AML and AFT monitoring. One of the many major differences between the CodecaX mobile money ecosystem and those of our competitors is that CodecaX provides a SuperApp.

The CodecaX SuperApp is a mobile money ecosystem for banks, financial institutions, fintech and telecommunications companies to communicate and transact with agents and consumers, and for those agents and consumers to communicate and transact with each other.

The CodecaX SuperApp seamlessly combines a Blue Consumer SuperApp and Wallet; a Red Agents and Merchants SuperApp and Wallet; and a SuperApp and Wallet for bank/financial institution employees.

The interaction between the apps enables and combines:

· State of the art digital, facial recognition onboarding and KYC

· P2P free instant real time payment

· B2C mini-apps

· B2B mini-apps

· Instant real-time information

· True micro-banking products

· A super-agent network

· Messaging, social and chat functions

· Marketplace

· Employee Payroll

· Employee communications

· Official Accounts

· Fraud, AML and AFT monitoring