- Partnership Announcement: Libyan Islamic Bank (LIB) has partnered with Backbase, a global leader in engagement banking platform solutions, to enhance its customer service operations and digital banking experience.
- Modernization Initiative: LIB aims to revamp its existing mobile app for retail customers and introduce new digital apps for business users to adapt to changing customer preferences. The move is expected to reduce friction in customer onboarding and servicing processes.
- Engagement Banking Platform: LIB is adopting Backbase’s Engagement Banking Platform, a single omnichannel banking platform, to align with a customer-centric approach, orchestrate user journeys across touchpoints, and innovate at the speed of digital.
- Digital Adoption Objectives: The Collaboration’s main goals include increasing digital adoption rates, offering self-service options, attracting a larger customer base, and fostering long-term relationships through improved service offerings.
- Branch-based Operations Reduction: LIB aims to reduce reliance on branch-based operations, streamline processes, enhance efficiency, and cutting costs by eliminating legacy systems and manual paper-based processes.
- Leadership Statements: Mr. Adel Kashad, acting GM of LIB, emphasizes the commitment to providing streamlined and efficient banking solutions. Mr. Matthijs Ejipe, Regional VP of Backbase, believes the initiative will set a new standard in the industry, fostering growth and innovation in the region.
