Digital banking software provider Backbase and Bahrain Fintech Bay (BFB), a fintech hub in the Middle East and North Africa (MENA) region, has partnered to accelerate digital banking adoption in the region and offer new opportunities for key players in the regional financial sector.
The new partnership is a part of BFB’s Venture Acceleration Platform which provides a launch pad for fintechs looking to break into the MENA region.
Through this partnership, Backbase brings a rich portfolio of partners, including National Bank of Bahrain, ila Bank, Banque Saudi Fransi, Kuwait International Bank, and Société Générale.
Meanwhile, Bahrain Fintech Bay incubates impactful and scalable financial technology initiatives through innovation labs, acceleration programs, and curated activities.
Mehmet Cakal, Head of Partners at Backbase Middle East said,
“We are honored to be partnering with one of the region’s top leading fintech hubs.
This new collaboration with Bahrain Fintech Bay aligns with our continuous efforts to help banks in the region with a long-term digital strategy and support them with a holistic approach towards digital transformation, to be able to meet the demands and expectations of their customers in today’s age.”
Bader Sater, CEO of Bahrain Fintech Bay said,
“Our new partnership with Backbase will strengthen our mandate to bring cutting-edge technology offerings to banks and financial institutions in MENA.
Bahrain Fintech Bay is committed to providing curated opportunities for enterprises and supporting startups in the sector to accelerate their growth and expansion efforts across the region.”
Featured image credit: Edited from Unsplash