Skip to main content
CASE STUDY
Building neo by Bank Audi
Bank Audi, a long-standing leader in Lebanon’s banking industry, set out to launch the first-of-a-kind neobank in Lebanon and partnered with Codebase Technologies to help realize this vision. Supported by our Digibanc neobanking platform, both teams worked together to design, develop, and launch neo in record time, establishing a fully digital banking experience that has set a new benchmark for digital banking in Lebanon.
Project Overview
Share this page
Bank Audi is a leading Lebanese banking group with a broad portfolio spanning commercial and corporate banking, retail and personal banking, and private banking. As the banking industry shifts toward digital-first experiences, the Bank noticed customers increasingly wanted greater accessibility, convenience, and speed from their financial services. Financial institutions globally are responding to this shift, with the global neobanking market projected to grow from USD 96.14 billion in 2023 to USD 2,048.53 billion by 2030, representing a 53.4% CAGR.
Bank Audi saw this as an opportunity to extend its service delivery beyond traditional branches and bring banking services closer to customers’ everyday devices. With 45+ neobanks already operating across MENA, the Bank recognized the growing relevance of digital-only banking models and decided to build neo, its dedicated digital arm, to offer a comprehensive suite of banking services through mobile devices, tablets, and computers.
Bringing neo to life required the right technology foundation, extensive technical expertise, and experience in delivering digital banking solutions. Bank Audi partnered with Codebase Technologies to develop neo using the Digibanc neobanking platform, bringing together the technology, integrations, infrastructure, and implementation capabilities required to deliver its digital banking vision.
Share this page
Client's Mission & Expectations
Bank Audi’s mission was to reinvent its service delivery model and make banking more accessible through the digital channels customers increasingly rely on. Instead of simply digitizing existing banking processes, the Bank wanted to establish a dedicated digital arm capable of delivering a comprehensive, convenient, and modern banking experience across customers’ everyday devices.
The Bank therefore expected a partner that could translate this ambition into a state-of-the-art digital banking proposition without compromising the breadth of services or experience it envisioned for neo. This required a technology foundation capable of supporting a comprehensive digital offering, together with the technical expertise and implementation experience to bring the solution to market efficiently. Codebase Technologies’ Digibanc platform provided the foundation to turn Bank Audi’s vision for neo into a fully operational digital banking experience.
“Bank Audi has come a long way since its formative years in the 1800s. Our resilience and ability to adapt to change have been the driving forces behind our sustained growth… After wide consultation, we decided to engage Codebase Technologies, an industry leader that has supported many other banks in the MENA region, to walk with us in building “neo,” our digital arm.”
Gebran Gebran,
Deputy CEO, Bank Audi
How Codebase Technologies Made It Possible
With Bank Audi’s vision for neo clearly defined,
Codebase Technologies worked closely with the Bank through an agile development approach, using the Digibanc neobanking platform as the foundation for the solution. Its modular, API-first architecture enabled the teams to integrate and configure the banking capabilities required for neo without building every function from the ground up. This accelerated development while providing the flexibility to continuously enhance the platform as customer needs and the Bank’s digital strategy evolved.
“Our approach leans more on a partnership model as opposed to simply being a technology provider. In this project, we sought to first understand the problem they were trying to solve, their business needs, customer needs, and their future prospects. Engaging in workshops and discussions with Bank Audi providedstrong insights to our team that they would take throughout the actual product development phase.”
Tamer Al Mouj,
Managing Director for MENA,
Codebase Technologies
Key Banking Features Delivered
Digital onboarding & migration
neo enables new customers to complete onboarding remotely through integrated digital identity verification and eKYC, while existing Bank Audi customers can migrate to the platform without re-registration, preserving account access and continuity.
Account management
Customers gain real-time visibility and control over their accounts, with access to balances, transactions, financial activity, customizable alerts, transaction categorization, and card controls through a unified digital interface.
Payments
neo brings multiple payment capabilities into a single digital experience, supporting P2P transfers, IBAN transactions, QR-based payments, bill payments, and inbound and outbound transfers for everyday financial needs.
Card management
Customers can manage their cards directly through neo, including activation and deactivation, spending controls, transaction monitoring, and real-time notifications, giving them greater control over their card usage and security.
Modern UI/UX
The visual look underwent a complete overhaul, introducing a modern interface built around neo’s distinct identity while retaining elements of Bank Audi’s established brand. User group testing informed successive refinements, resulting in a more accessible and intuitive experience across the platform.
Built in Partnership with Ecosystem Leaders
Cirrus
Provided the enterprise-grade cloud infrasttucture required to host Digibanc, delivering the scalability, availability, and reliability needed to support neo’s digital banking services.
IDWise
Provided AI-powered identity verification and eKYC capabilities, supporting secure digital onboarding while handling diverse ID documents and non-Latin scripts, including Arabic.
Areeba
Provided the Card Management System and integrated debit and credit card capabilities into neo, enabling real-time card issuance, activation, transaction monitoring, and card controls.
InfoBip
Integrated SMS, email, push notifications, live chat, and voice and video communication capabilities, enabling real-time customer notifications and digital support within the neo experience.
“Our Digibanc platform provided the foundational infrastructure that the Bank needed to innovate not just in the moment but also in the future. Our team leveraged different components of the platform, from digital onboarding, eKYC, and regtech to integration of account management functionalities, bill payments, cards, and more. With such an agile infrastructure, Bank Audi is well-positioned to innovate and grow now and in the future.”
Raheel Iqbal,
Managing Partner, Codebase Technologies
Outcomes
Codebase Technologies and Bank Audi successfully launched a fully digital banking experience that brings key banking services together through digital channels customers can access seamlessly. Since launch, neo by Bank Audi has continued to hit milestones and set the pace for digital banking in Lebanon.
4.9 Star Customer Rating
neo has achieved a 4.9-star customer rating, highlighting strong customer satisfaction with the experience and the ability to access essential banking services through a fully digital channel.
#1 Digital Bank in Lebanon
Neo has established itself as the #1 digital bank in Lebanon, demonstrating Bank Audi’s ability to translate its digital banking strategy into a leading market proposition and set a new benchmark for digital banking in the country.
End-to-End Digital Banking
Neo enables customers to complete fundamental banking activities digitally, from onboarding and account management to payments, bill payments, and card management, reducing reliance on physical branches and bringing everyday banking services into a single digital experience.
“This first and major milestone in our “neo” development journey has indeed been a rewarding one. We have been able to set a strong foundation for our future growth and innovation. While there have been challenges at various levels of development, we have successfully outdone them, thanks to the excellence that Codebase Technologies has demonstrated. We look forward to building even more exciting products together.”
Fady Obeid, COIO, Bank Audi
Frequently Asked Questions
What is neo by Bank Audi?
neo is Bank Audi’s fully digital banking arm, launched in Lebanon and built on Codebase Technologies’ Digibanc platform. It provides customers with end-to-end banking services through digital channels, including mobile devices, tablets, and computers.
What platform powers neo?
neo is built on Digibanc, Codebase Technologies’ modular, API-driven digital banking platform. The platform provided the foundation for neo’s banking capabilities and enabled integration with an ecosystem of technology partners for onboarding, payments, communications, and other infrastructure required to deliver a secure and scalable digital banking experience.
What banking services does neo offer?
neo enables customers to manage their everyday banking digitally, including account management, P2P and IBAN transfers, QR-based payments and statements, bill payments, inbound and outbound payments, and debit and credit card management. Customers can also manage card controls and track their transactions directly through the platform.
How does neo verify customer identity?
Customers can complete identity verification remotely during digital onboarding using integrated eKYC and AI-powered ID verification. The solution has achieved a first-time acceptance rate of over 95%, including reliable verification of Arabic and other non-Latin scripts across a range of Lebanese identity documents.
Who are Bank Audi's technology partners for neo?
neo was delivered with support from an ecosystem of technology partners: Cirrus for infrastructure hosting, IDWise for AI-powered eKYC and identity verification, Areeba for card management systems, and Infobip for omnichannel customer communications.
