Wahda Bank prepares for a new digital phase
LIBYA – An economic report published by the Dutch English-language site Baybars said Wahda Bank has partnered with Dutch fintech group Backbase to develop a digital banking platform in Libya, starting with business services in 2027 before expanding to retail, covering more than 500,000 customers.
The report, which Al-Marsad followed and summarised, said the bank will use Backbase’s Banking OS, designed to embed artificial intelligence in its core and support digital banking services.
Business first, then retail in 2027
It said the first phase, due to launch in 2027, will focus on corporate banking — digital onboarding, day-to-day banking and invoice management — followed by retail services on the same platform, with card and money-management features, to serve a base of more than 500,000 customers.
Once live, Libyan companies will be able to open accounts online using electronic identity verification, then manage payrolls and pay invoices from a single app after onboarding.
Arabic interface, English support and a unified staff system
The report noted that only a limited number of Libyan banks currently offer such integrated digital banking, and that customer experiences on the new platform will be designed with Arabic as the primary language and full English support.
The platform will also be used inside the bank so branch and call-centre staff can access the banking system through a unified workspace with comprehensive customer information, at a time when banking regulation is moving towards digital-first services while opening an account in Libya still usually requires a physical branch visit, according to the report.
Rami Benissa: a platform that can be developed locally
The report quoted Wahda Bank general manager Rami Benissa saying the partnership is a further step in the bank’s digital transformation and will deliver services for individuals and companies primarily in Arabic, through a flexible platform that the bank’s own technical teams can expand and develop continuously.
Gadalla and Pleiter on widening access to services
Ahmed Gadalla, chairman of Alushibe Holding Group, said many Libyans still rely on visiting bank branches for basic services, casting the partnership as aimed at making digital banking available to customers across the country and supporting development of the financial system.
Jouk Pleiter, Backbase CEO, said Libya is building a modern digital economy in a short period, and that Wahda Bank has sought since the project began to combine retail and corporate banking in a single platform.
