Wahda Bank partners with Backbase to bring Banking OS to businesses and retail customers across Libya
Wahda Bank, one of Libya's largest financial institutions, has chosen Backbase to build a new digital banking platform serving both business and retail customers across the country. Business banking goes live first in 2027, covering digital onboarding, daily banking, and invoice management. Retail customers follow on the same platform, with cards and money management rolling out to more than half a million people.
Right now, opening a bank account in Libya still means walking into a branch. That is the reality this partnership is designed to change. Libyan businesses will soon be able to verify their identity electronically, open an account online, and run payroll, pay bills, and manage invoices from a single app. Every journey will be built Arabic-first, with full English support, and branch and contact centre staff will have access to the same platform, seeing each customer's full details in one workspace.
The move fits squarely into the Central Bank of Libya's National Financial Inclusion Strategy, which names electronic payments, small and medium-sized businesses, and artificial intelligence as core priorities. Wahda Bank's new platform connects to its existing Oracle FLEXCUBE core system and to Libya's instant-payment rails, LYPay and OnePay. Corporate banking and Conversational Banking are planned for later phases.
Wahda's engineers will work in joint teams with Backbase from day one and train through Backbase Academy, giving the bank the in-house skills to keep building as its needs grow. Ahmed Gadalla, Chairman of Alushibe Holding Group and a Wahda Bank shareholder, attended the partnership announcement, pointing to the broader significance of getting the financial infrastructure right for Libya's economy. With the foundation now set, the question is how fast the rest of the market will follow.
Originally published by African Business.