Mashreq and CODIX: Building the Digital Foundation for Scalable Open Account Trade

A strategic partnership accelerating digital transformation in transaction banking

As global trade continues to evolve, corporate clients increasingly expect financing solutions that are digital, integrated and capable of supporting more complex and evolving supply chains. To meet these expectations, banks are rethinking how they deliver open account trade and supply chain finance.

Mashreq, a leading financial institution in the Middle East and North Africa with international branches in the UK, the US, Hong Kong and India, has embarked on a strategic transformation to build a more scalable, digitally enabled foundation for its open account trade business. To support this journey, Mashreq partnered with CODIX and implemented its iMX platform as a core technology foundation supporting the evolution of its open account trade business.

Supporting a Strategic Vision

Like many financial institutions, Mashreq recognised that growing demand for receivables finance and supply chain finance requires a more centralised and standardised operating model. The objective was not simply to replace existing processes, but to establish a platform capable of supporting long-term growth, operational consistency and continued innovation.

Working together, Mashreq and CODIX deployed the iMX platform to create a centralised environment for managing open account trade solutions. The platform supports Mashreq’s open account trade capabilities, including receivables finance and supply chain finance, while enabling greater standardisation across key operational processes.

“Digital transformation is not simply about replacing systems. It is about creating scalable capabilities that allow us to serve clients more consistently, innovate faster and support increasingly sophisticated working capital requirements. Our partnership with CODIX is an important part of that journey, providing a flexible foundation on which Mashreq can continue to build and expand its open account trade proposition.” – Vivek Batra, Head of Global Transaction Banking, Mashreq.

A Platform Built for Growth

The implementation has followed a phased approach, enabling Mashreq to expand capabilities progressively while maintaining operational stability.

Today, the iMX platform is an important component of Mashreq’s open account trade technology landscape, designed to enhance client connectivity, streamline workflows, increase visibility across programmes and provide a scalable foundation for future expansion across products, clients and geographies.

The partnership continues to evolve through ongoing collaboration between the Mashreq team and CODIX’s product and technology experts, helping to ensure that platform enhancements remain aligned with changing business priorities.

Creating Value Through Partnership

The success of the project reflects a close partnership built on complementary expertise.

Mashreq contributes deep transaction banking knowledge, product innovation and client engagement, while CODIX provides the technology platform and continuous product development capabilities that support the bank’s digital transformation objectives.

Together, the two organisations have established a modern technology foundation that enables more structured, consistent and scalable delivery of open account trade solutions.

“Digital transformation in transaction banking is built on long-term partnerships. Together with Mashreq, we’ve established a scalable foundation that supports today’s business while creating the flexibility to evolve with tomorrow’s market needs. We look forward to continuing this journey together.” – Laurent Tabouelle, COO, CODIX.

Looking Ahead

Digital transformation in transaction banking is an ongoing journey. By investing in a flexible and scalable platform, Mashreq is well positioned to continue expanding its open account trade finance offering, enhance the client experience and accommodate increasingly sophisticated supply chain finance programmes.

For CODIX, the partnership demonstrates how close collaboration with forward-looking financial institutions can help deliver the technology foundations required for long-term business transformation.

About the Partners

Mashreq is a leading financial institution in the MENA region with international branches in the UK, the US, Hong Kong and India, providing a diversified range of banking and financing services to corporate, institutional and retail customers. With a strong focus on innovation and digital transformation, Mashreq continues to invest in technology, data and client-centric solutions to support businesses and individuals across its markets.

CODIX is the editor and integrator of iMX, a comprehensive enterprise platform supporting commercial finance, supply chain finance, receivables finance, asset-based lending, leasing, loan management and other specialised financial services. Used by financial institutions in more than 50 countries, iMX enables organisations to streamline operations, accelerate digital transformation and support long-term growth.

Together, Mashreq and CODIX continue to advance digital innovation in transaction banking through a partnership focused on scalability, operational consistency and long-term value for corporate clients.