Manama, Bahrain, 20 June 2022: Backbase, the leading Engagement Banking platform provider, and Bahrain FinTech Bay (BFB), one of the leading FinTech Hubs in the Middle East and North Africa (MENA), announced a new partnership as part of BFB’s Venture Acceleration Platform, to accelerate digital banking adoption in the region and offer new opportunities for key players in the regional financial sector.
The partnership will provide aspiring and leading financial organizations across the region with the opportunity to leverage a solidified engagement banking offering and benefit from an all-encompassing FinTech ecosystem that would boost their operations, performance, and reach.
Backbase brings a rich portfolio of partners, including National Bank of Bahrain, ila Bank, Banque Saudi Fransi, Kuwait International Bank, and Société Générale, while Bahrain FinTech Bay incubates impactful and scalable financial technology initiatives through innovation labs, acceleration programs, and curated activities.
Commenting on the partnership, Mehmet Cakal, Head of Partners at Backbase Middle East said:
“We are honored to be partnering with one of the region’s top leading FinTech Hubs. This new collaboration with Bahrain FinTech Bay aligns with our continuous efforts to help banks in the region with a long-term digital strategy and support them with a holistic approach towards digital transformation, to be able to meet the demands and expectations of their customers in today’s age.”
Bader Sater, CEO of Bahrain FinTech Bay, said:
“Our new partnership with Backbase will strengthen our mandate to bring cutting-edge technology offerings to banks and financial institutions in MENA. Bahrain FinTech Bay is committed to providing curated opportunities for enterprises and supporting startups in the sector to accelerate their growth and expansion efforts across the region.”
Backbase is on a mission to help banks re-architect around the customer and embrace the paradigm shift to a platform model. Backbase helps financial institutions – from large banks to credit unions and everything in between – become customer-centric.
Backbase created the Engagement Banking Platform – powering the full customer lifecycle. The single, comprehensive platform powers every stage of the customer life cycle, deepening customer loyalty and growing share of wallet – all while delivering seamless, frictionless experiences for both your customers and employees.
Industry analysts Forrester, IDC, Aite, Omdia, and Celent continuously recognize Backbase’s front-runner position. Over 150 large financials around the world are powered by the Backbase Engagement Banking Platform, including National Bank of Bahrain, ila Bank,Banque Saudi-Fransi, I&M, Kuwait International Bank, HSBC, Banque de Luxembourg, BIAT, BNP Paribas, BRD, Caixa Geral de Depositos, Citizens Bank, Deutsche Bank, Discovery, HFDC Bank, Lloyds Banking Group, Mauritius Commercial Bank, Rabobank, Raiffeisen Bank, RBC, Standard Bank, SGBL, Virgin Money
Bahrain FinTech Bay is one of the leading FinTech Hubs in the MENA region. We incubate impactful and scalable FinTech initiatives through innovation labs, acceleration programs, curated activities, and educational opportunities.
Our collaborative platform is dedicated to further the development, interaction, and acceleration of the FinTech ecosystem. To bring the full spectrum of market participants together, we partner with governmental bodies, financial institutions, corporates, consultancy firms, universities, associations, venture capital, and FinTech startups.
For more information on Bahrain FinTech Bay visit: http://www.bahrainfintechbay.com