Libya’s largest banks will launch Arabic-first, digital banking for businesses in 2027, thanks to Backbase. The company is Technology Partner at Banking 4.0.
Backbase announced that Wahda Bank, one of Libya’s largest banks, has selected Backbase to build a new digital banking platform for its business and retail customers. Business banking goes live first in 2027, with digital onboarding, daily banking, and invoice management. Retail follows on the same platform, adding cards and money management for more than half a million customers.
The partnership announcement was attended by Ahmed Gadalla, Chairman of Alushibe Holding Group and one of the shareholders of Wahda Bank. His attendance reflected his interest in the development of Libya’s banking sector and the wider adoption of digital financial services.
At launch, Libyan businesses will be able to open an account online with electronic identity verification, then run payroll and pay bills from one app, with invoice management alongside. Few banks in the country offer that combination today. Every journey will be designed Arabic-first, with full English support. Branch and contact center staff will also move onto the Banking OS, where they see the full context of every customer in one servicing workspace.
Today, opening an account in Libya still means a branch visit. The Central Bank of Libya is moving the sector toward digital-first. Its National Financial Inclusion Strategy names electronic payments, small and medium-sized businesses, and artificial intelligence among its core pillars. Wahda Bank chose Backbase as a long-term, strategic partner that lets it move at the market’s speed while owning its roadmap. Ready-made journeys shorten the path to launch, and a headless platform leaves the bank’s engineers free to build as Wahda’s needs evolve.
The Banking OS integrates to Wahda’s Oracle FLEXCUBE core and to LYPay and OnePay, Libya’s instant-payment rails. Wahda’s engineers will work in joint squads with Backbase from the start and train through Backbase Academy, so the bank builds the in-house skills to keep extending the platform. Corporate banking and Conversational Banking are planned for later phases.
“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. Wahda Bank is bringing business and retail banking together on one AI-native platform from the start. Every service that follows, from corporate banking to conversational AI, will land on that same base, which puts Wahda in a position to set the pace for the whole market.” – said Jouk Pleiter, Founder & CEO at Backbase.
“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. Together, we will give our business and retail customers Arabic-first digital banking on a platform our own engineers will keep extending.” – said Rami Benissa, CEO at Wahda Bank.
“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. Wahda Bank’s long-term partnership with Backbase will bring digital banking to customers across the country, and help build the financial system Libya needs to grow.” – said Ahmed Gadalla, Chairman & Owner at Alushibe Holding Group.
