Latest news with #Backbase
Fintech News ME
05-08-2025
- Business
- Fintech News ME
Backbase Completes Digital Platform Launch for Libyan Islamic Bank
Backbase, a global provider of AI-powered banking technology, has announced the successful deployment of its digital platform at Libyan Islamic Bank (LIB). This marks Backbase's first implementation in Libya. Libyan Islamic Bank, which has adopted a digital-first approach, collaborated with Backbase to establish a customer-centric operating model focused on speed, adaptability, and long-term relevance. 'This is a proud moment for us. With Backbase, we are transforming banking for our customers, bringing financial services closer to them with the convenience, security, and accessibility of world-class digital banking,' said Mohamed Almabrok, Digital Banking Platform Project Manager at Libyan Islamic Bank. The bank's new mobile application introduces a redesigned user experience for everyday banking. Customers can now access secure logins, monitor real-time transactions, perform internal transfers, and communicate via in-app messaging. Additional features include customer self-service options, instant payments, ATM and branch locators, and an interface designed for ease of use. As part of the launch, Libyan Islamic Bank also became one of the first financial institutions in the country to integrate with LYPAY, the Central Bank of Libya's instant payment service, highlighting the platform's ability to adapt to emerging regulatory and infrastructure requirements. 'The successful launch of Libyan Islamic Bank's digital platform is setting new standards for digital-first experiences. It reflects the bank's ability to lead and evolve in Libya's rapidly changing financial sector,' said Aymen Daoud, Regional Vice President for Africa at Backbase. The project was delivered in partnership with OneTech Business Solutions (OTBS), which played a central role in aligning the platform with both the bank's operational needs and Libya's regulatory landscape. The launch represents the first phase of Libyan Islamic Bank's broader digital transformation efforts. With the platform now in place, the bank is positioned to expand and modernise its services in line with evolving customer demands. For Backbase, the project signals a strategic entry into the Libyan market and reinforces its aim of supporting banks with adaptable digital solutions designed to meet local and regional needs.
Yahoo
04-08-2025
- Business
- Yahoo
Libyan Islamic Bank enhances consumer banking with Backbase platform
Libyan Islamic Bank (LIB) has enhanced its consumer banking offerings by adopting a platform developed by Backbase. The initiative aims to create a customer-centric operational model that prioritises speed and adaptability in a changing market. The bank's new mobile application is designed to facilitate easier financial management for users. It includes functionalities such as secure login options, real-time tracking of transactions, internal fund transfers, in-app messaging, personalised service features, and self-service tools. The app also provides instant payment capabilities and a locator for ATMs and branches, all within a straightforward interface intended for everyday use. Libyan Islamic Bank Digital Banking Platform project manager Mohamed Almabrok said: 'This is a proud moment for us. 'With Backbase, we are transforming banking for our customers, bringing financial services closer to them with the convenience, security, and accessibility of world-class digital banking.' Additionally, LIB has become one of the pioneering banks in Libya to connect with LYPAY, the instant payment service established by the Central Bank of Libya. This development marks Backbase's first deployment in Libya, in line with its aim to promote customer-oriented banking solutions across North Africa. The launch is part of LIB's initial steps in a comprehensive digital transformation strategy, which aims to establish a 'strong' digital infrastructure that can adapt to changing customer needs. The implementation was achieved through collaboration between Backbase and OneTech Business Solutions (OTBS), which ensured that the deployment met LIB's specific requirements and complied with local regulatory standards. Backbase Africa regional vice-president Aymen Daoud said: 'The successful launch of Libyan Islamic Bank's digital platform is setting new standards for digital-first experiences. 'It reflects the bank's ability to lead and evolve in Libya's rapidly changing financial sector.' "Libyan Islamic Bank enhances consumer banking with Backbase platform" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
01-08-2025
- Business
- Finextra
Libyan Islamic Bank goes live with Backbase
Backbase, the global leader in AI-powered banking technology, today announced the recent successful platform launch of Libyan Islamic Bank (LIB), one of the country's fastest-growing financial institutions. This achievement represents Backbase's first platform launch in Libya, underscoring its commitment to expanding state-of-the-art, customer-centric banking across North Africa. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. From ambition to impact As a digitally focused bank, LIB set out to differentiate itself through an experience-led approach to banking. In collaboration with Backbase, the bank laid the groundwork for a customer-first operating model that is built for speed, flexibility, and long-term relevance in a rapidly evolving market. 'This is a proud moment for us. With Backbase, we are transforming banking for our customers, bringing financial services closer to them with the convenience, security, and accessibility of world-class digital banking.' Mohamed Almabrok Digital Banking Platform Project Manager, Libyan Islamic Bank A redesigned experience for everyday banking The new mobile app offers a more intuitive way for customers to manage their finances, with features such as: Secure logins and real-time transaction tracking Internal transfers and in-app messaging Personalized servicing and customer self-service capabilities Instant payments and ATM/branch locator functionality A clean, user-friendly interface designed for daily use As part of the launch, LIB also became one of the first banks in the country to integrate with LYPAY, the Central Bank of Libya's instant payment service. This showcases the agility of the platform in meeting new regulatory and infrastructure demands. 'The successful launch of Libyan Islamic Bank's digital platform is setting new standards for digital-first experiences. It reflects the bank's ability to lead and evolve in Libya's rapidly changing financial sector.' Aymen Daoud Regional Vice President for Africa, Backbase Local knowledge, global technology The go-live was delivered through a close collaboration between Backbase and regional implementation partner OneTech Business Solutions. OTBS played a vital role in aligning the deployment with LIB's specific needs and Libya's regulatory environment, helping ensure speed, stability, and long-term scalability. 'This project shows what's possible when global technology meets local execution. Working closely with Backbase and Libyan Islamic Bank, we ensured a seamless deployment that reflects the realities of the Libyan market. It's a strong example of how partnership drives real digital transformation.' Atef Loukil Deputy CEO and Head of Digital Factory, OneTech Business Solutions Built for what comes next This launch represents the first phase of LIB's longer-term digital transformation roadmap. With a strong digital foundation now in place, the bank is positioned to respond to evolving customer expectations and continue modernizing its services at scale. Backbase's successful entry into Libya also marks a strategic expansion point in North Africa. The company remains committed to helping banks of all sizes modernize at speed, through adaptive technology, regulatory alignment, and seamless customer experiences, all powered by its AI-powered Banking Platform.
Techday NZ
27-06-2025
- Business
- Techday NZ
Backbase names Adrian McPhee CTO to lead global AI banking push
Backbase has appointed Adrian McPhee as its new Chief Technology Officer to advance its AI-powered banking platform and technology vision. McPhee brings over 20 years of experience in technology transformation across sectors including fintech, retail, mobility, and digital marketplaces. His appointment comes after the recent launch of Backbase's AI-powered Banking Platform, which the company says is designed to put banks at the forefront of the sector's technological shift. Prior to his new role, McPhee served as Global CTO at LeasePlan. There, he led a technology organisation of more than 1,000 employees and drove the company's digital transformation initiatives. LeasePlan operates in 28 countries and its banking division is regulated by the European Central Bank. While at LeasePlan, McPhee oversaw the modernisation of its digital architecture, expanding engineering teams from 25 to more than 500 professionals. He also played a key role in establishing data, AI and analytics platforms, leading to notable business outcomes and recognition, most prominently through the 2022 IDC Award for Data Management Excellence. His broader career includes extensive experience in building engineering cultures, updating legacy systems, and launching new digital business areas at scale. This background is seen as aligning with Backbase's current strategy as it seeks to scale AI solutions in the banking industry. AI-first technology agenda The company's leadership has stated that McPhee's expertise is expected to support its mission to help banks achieve growth through AI. Backbase is focused on delivering its AI Banking Platform to new markets, aiming to enable banks to optimise processes and customer interactions at a time of ongoing industry transformation. Jouk Pleiter, CEO & Founder of Backbase, said, "Adrian's track record in scaling technology organisations and delivering transformative digital platforms makes him the ideal CTO for Backbase as we lead the industry into the AI-powered future of banking. His leadership will be instrumental as we continue to innovate and help banks unlock growth." As Chief Technology Officer, McPhee will be responsible for the company's international technology and data operations, overseeing product engineering and managing the development of new capabilities for Backbase's Intelligence Fabric and Agentic AI. His brief also includes driving the adoption of Backbase's AI-powered Banking Platform across global markets. McPhee explained his perspective on taking on the new role at Backbase, stating, "Joining Backbase at such a transformative time for the banking industry is a challenge I'm looking forward to taking on. Looking at Backbase's technology, combined with its industry-wide adoption, we're uniquely positioned to lead the next wave of AI-driven transformation for financial institutions. I look forward to working with the leadership team and exceptional Backbase talent around the world to deliver breakthrough value for our customers and help banks realize the full potential of AI." Supporting digital transformation Backbase has established a presence in the global financial technology market with its platform, which offers services covering Retail, SME, Commercial, Private Banking, and Wealth Management. The company's stated goal is to equip banks to modernise operations by unifying sales and servicing functions through a digital suite. The appointment of a CTO with experience in large-scale data, AI, and analytics implementation, alongside the recent platform developments, signals Backbase's intent to deliver technological capability to its client banks internationally. Backbase has regional headquarters in Atlanta and Singapore and operates in several major cities worldwide, including London, Sydney, Toronto, Dubai, Kraków, Cardiff, Hyderabad, and Mexico City. The company reports that its technology supports digital and AI transformations for more than 150 financial institutions globally.
Zawya
26-06-2025
- Business
- Zawya
Backbase prediction: 2025 – the year of AI and fintech dominance
As the world struggles to make sense of the whirl- wind of directives on global trade coming from the new US administration, and their impact on the finan- cial environment, Backbase's new report, Banking Reinvented: Top 6 Predictions for 2025, comes as a timely guide for banking planners. Among its predictions is the increas- ing role that AI will play in banking going forward. 'Agentic AI is a game-changer for modern banking. It empowers us to offer hyper-personalised experiences, optimise complex workflows, and proac- tively manage risks — all while reducing costs,' says Chris Shayan, Head of AI at Backbase. A key development is that AI-powered customer-service assistants — especially AI agents — will become increasingly pop- ular as banks seek to realise productivity gains. AI adoption: start now, start small The company, which provides banking infrastructure software worldwide, and works with a wide range of financial institu- tions, from large banks to credit unions and community banks, cautions that banks that don't integrate AI into their technology stacks will end up being less competitive amid widespread industry adoption. 'But as more and more financial insti- tutions jump on the AI bandwagon, banks will find it increasingly difficult to use this tech as a differentiator, so the time to get started is now, even if you're only starting small,' the report says. That said, are African banks investing sufficiently in AI? The short answer is no – not yet at least. Many are open to AI and paying close attention to the technology, but there's still a 'wait and see' approach as far as deploying capital towards AI is concerned. This is partly because of the high cost of implementation. In order to properly utilise AI, banks will need to develop robust data strategies, establish effective gov- ernance to mitigate misuse, and ensure information and recommendations are correct. This is a costly undertaking and many banks are hesitant to put money down until they have a clearer idea of the potential returns from AI. AI adoption is also being slowed down by regulatory uncertainty. While the ben- efits of AI have captured everyone's atten- tion, its risks are still not fully understood. Regulators and policymakers – not just in Africa but globally – are still indeci- sive and this is moderating the pace of adoption. Fintechs will continue dominating Backbase also predicts that in 2025, fintechs globally will continue disrupting the traditional banking model, setting new standards for digital experiences and operational efficiency. 'Neobanks, fintechs, and other tech titans will continue to gain momentum throughout means tradi- tional banks need to get used to an increasingly competitive market,' the report says. This prediction is likely to pan out in Africa, where fintech has grown at a blistering pace in recent years and is ex- pected to sustain the momentum. McKin- sey projects that fintech industry revenues could soar to $47bn by 2028, a five-fold increase from $10bn in 2023. Backbase highlights a significant shift in the fintech landscape, noting that while consumer-facing fintechs initially ap- pealed to younger demographics, they are now gaining traction among older generations as well. 'Their (fintechs) target demographic was once young, tech-savvy users, but even older generations have begun see- ing the value of their easy-to-use, cus- tomer-centric banking services,' it says. Other major trends that Backbase is watching in 2025 include: the global ex- pansion of open finance; the arrival of in- dustry integration platform-as-a-service (IPaaS); and the expanded differentiation of service levels. Backbase asserts that to adapt to these shifts and remain competitive, banks must progressively modernise their technology and embrace AI. © Copyright IC Publications 2022 Provided by SyndiGate Media Inc. (
