Libyan Islamic Bank (LIB) has launched a new mobile banking platform powered by Dutch banking technology provider Backbase.
Established in 2017, LIB serves retail and corporate clients with checking accounts, financing solutions, and card services that adhere to Islamic Sharia principles and regulations.
The new mobile application, powered by Backbase’s banking technology, provides LIB customers with instant payment capabilities, internal fund transfers, in-app messaging, secure authentication, ATM and branch location services, real-time transaction monitoring, and self-service features.
The go-live marks Backbase’s entry into the Libyan market and was delivered in partnership with the vendor’s regional implementation partner OneTech Business Solutions.
With the launch, Backbase says LIB has also become “one of the first banks in the country to integrate with LYPAY, the Central Bank of Libya’s instant payment service”.
Backbase, which has facilitated digital transformations for more than 150 financial institutions globally, has recently powered similar digital banking initiatives, including the launch of AlRayan Bank’s mobile app in January and the launch of Bank Muamalat’s digital bank Atlas last month.
Source: https://www.fintechfutures.com/
