Libyan Islamic Bank (LIB) has joined forces with Backbase, a provider of engagement banking platform solutions, in a bid to enhance its digital banking services.
The bank plans to upgrade its mobile app for retail customers and introduce new digital applications for business users. This enhancement aims to streamline customer onboarding and servicing processes, offering a more intuitive banking experience.
The partnership utilises Backbase’s Engagement Banking Platform, to provide a comprehensive omni-channel banking experience. This move aligns with LIB’s goal of a customer-centric approach, enabling better coordination across various user touchpoints and fostering digital innovation.
A key goal of this initiative is to increase digital adoption among LIB’s customers, offering self-service options that align with current market trends and demands.
This strategy also involves reducing dependence on branch-based operations, aiming for greater efficiency and cost-effectiveness. This shift necessitates replacing outdated systems and manual processes that have hindered efficient service delivery.
LIB, established in 2017, focuses on retail and corporate banking and adheres to Islamic Sharia principles.
Adel Kashad, acting GM of LIB said,
“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.”
Matthijs Ejipe, Regional Vice President of Backbase said,
“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.”
Featured image credit: Edited from freepik
