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Libyan Islamic Bank (LIB) is taking bold strides to streamline its customer service operations and elevate the digital banking experience for its customers. The bank has entered into a strategic partnership with Backbase, a globally recognized expert in engagement banking platform solutions.

Founded in 2017 with a primary focus on retail and corporate segments, LIB has maintained a steady presence in Libya’s financial landscape, adhering to the principles and legislations of Islamic Sharia.

Recognizing the evolving landscape of the banking industry, LIB acknowledges the imperative to modernize and adapt to changing customer preferences and expectations. At a crucial juncture, LIB is revamping its existing mobile app for retail customers and introducing new digital apps for business users. This move is poised to significantly reduce friction in customer onboarding and servicing processes, fostering a smoother, more intuitive banking experience. Backbase, known for its innovative digital platform capabilities, emerges as the preferred partner for this transformative journey.

Central to this modernization initiative is the implementation of Backbase’s Engagement Banking Platform, a single omni-channel banking platform aligned with LIB’s vision of adopting a customer-centric approach. The platform orchestrates user journeys across all touchpoints, allowing LIB to innovate at the speed of digital. Backbase’s recognized expertise offers a tailored solution to address the challenges encountered in modern banking operations. This collaboration signals a strategic shift for LIB, leveraging Backbase’s capabilities to facilitate rapid transitions to customer-centric platforms.

A primary goal of this partnership is to increase digital adoption rates among LIB customers, providing self-service options that align with current market trends and customer demands. By enhancing the functionalities of its existing platforms, LIB aims not only to attract a larger customer base but also to cultivate long-term relationships through improved service offerings.

This initiative also involves reducing the bank’s reliance on branch-based operations, streamlining processes, and promoting greater efficiency and cost-effectiveness. Legacy systems and manual paper-based processes, recognized as hindrances to swift and smooth service delivery, will be phased out to support LIB’s digital transformation.

Mr. Adel Kashad, Acting GM of LIB, expressed, “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.”

Mr. 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.”