Libya’s Wahda Bank has selected financial technology company Backbase to develop a new digital banking platform aimed at transforming banking services for business and retail customers, with the first phase expected to go live in 2027.
The partnership will see Wahda Bank introduce a unified digital banking platform that will allow businesses and individuals to access banking services remotely, reducing their reliance on physical branch visits.
Business banking will be introduced first, offering digital account onboarding, daily banking services and invoice management. Retail banking will follow on the same platform, introducing card services and personal money management features for more than 500,000 customers.
The partnership announcement was attended by Ahmed Gadalla, chairman and owner of Alushibe Holding Group and a shareholder of Wahda Bank. His presence reflected his interest in the development of Libya’s banking sector and the expansion of digital financial services.
Under the new arrangement, businesses in Libya will be able to open bank accounts online using electronic identity verification. They will also be able to manage payroll, settle bills and handle invoices through a single application.
The platform will be designed with Arabic as the primary language, alongside full English-language support, to improve accessibility for customers across the country.
Wahda Bank also plans to integrate its branch and contact centre operations into the platform, giving customer service personnel access to a unified view of customer information and interactions through a single servicing workspace.
The development comes as Libya intensifies efforts to modernise its financial services industry and expand access to digital banking.
Currently, opening a bank account in the country generally requires customers to visit a physical branch. However, the Central Bank of Libya is pushing the financial sector towards digital-first services through its National Financial Inclusion Strategy, which identifies electronic payments, support for small and medium-sized enterprises, and artificial intelligence as key priorities.
Wahda Bank selected Backbase as its long-term strategic technology partner to accelerate the transition while retaining control over its digital development roadmap.
The platform will integrate with Wahda Bank’s Oracle FLEXCUBE core banking system and Libya’s instant-payment infrastructure, including LYPay and OnePay.
As part of the partnership, Wahda Bank’s engineers will work alongside Backbase teams in joint development squads and receive training through the Backbase Academy. The arrangement is intended to equip the bank with the technical expertise to independently expand and improve its digital banking services.
Corporate banking and conversational banking capabilities are also expected to be introduced in subsequent phases.
Backbase Founder and Chief Executive Officer, Jouk Pleiter, said the partnership would position Wahda Bank to play a significant role in shaping Libya’s emerging digital economy.
“Libya is building a modern digital economy in a matter of years, and the banks that shape it will be the ones that start from the right foundation,” he said.
He noted that bringing business and retail banking together on an AI-native platform would provide the foundation for additional services, including corporate banking and conversational artificial intelligence.
Wahda Bank Chief Executive Officer Rami Benissa described the partnership as another major step in the bank’s digital transformation agenda.
“Wahda Bank has been a major contributor to Libya’s economic growth and has consistently been at the forefront of digital transformation in the country. Our partnership with Backbase is the next step on that path,” he said.
He added that the collaboration would provide business and retail customers with Arabic-first digital banking services on a platform that the bank’s own engineers could continue to develop.
For his part, Ahmed Gadalla, Chairman and Owner of Alushibe Holding Group, said expanding digital banking was essential to supporting economic growth and improving access to financial services.
“A modern economy depends on people and businesses being able to bank wherever they are. Too many Libyans still depend on a branch for the most basic services,” he said.
He expressed confidence that the partnership would extend digital banking services to customers across Libya while supporting the development of the country’s financial system.
The collaboration represents a significant step in Wahda Bank’s digital transformation strategy, with the phased rollout expected to establish a common technological foundation for its business, retail and future corporate banking services.
