Libyan Islamic Bank (LIB) has partnered with Backbase, a Dutch financial technology company that provides engagement banking for financial institutions, “to streamline its customer service operations and enhance its customers’ digital banking experience,” according to a statement by the Dutch company.
The initiative to revamp LIB’s existing mobile app for retail customers and introduce new digital apps for business users.
“This move is expected to significantly reduce friction in customer onboarding and servicing processes, thereby promoting a smoother, more intuitive banking experience. Backbase stands out as a market leader with top-notch innovative digital platform capabilities, making it a preferred choice for this partnership,” said Backbase.
One of the main objectives of this collaboration is to “increase digital adoption rates among LIB customers, enabling self-service options that are more aligned with the current market trends and customer demands,” as per the Dutch company’s statement.
“By enhancing the functionalities of its existing platforms, LIB aims to not only attract a larger customer base but also foster long-term relationships through improved service offerings.”
Adel Kashad, acting General Manager of LIB, remarked, “In these times of rapid technological advancements, it is vital for financial institutions to adapt and innovate continually. This partnership signifies our commitment to providing our customers with more streamlined and efficient banking solutions. By collaborating with Backbase, we aim to enhance our digital service offerings, bringing a new level of convenience and functionality to our clients, thus reiterating our position as a bank that is truly in sync with the needs of contemporary consumers.”
For his part, Matthijs Ejipe, Regional Vice President of Backbase, commented on the collaboration, stating, “This partnership with LIB marks a significant step in the direction of creating more nuanced and customer-centric experiences in the banking sector. Our Engagement Banking Platform is designed to facilitate seamless customer journeys, and we believe this initiative will set a new standard in the industry, fostering growth and innovation in the region.”