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Backbase Partners with SGBL to Support Digital Transformation

Days away from Finovate’s first conference in the Middle East, we learn that one of our most popular alums (as judged by Best of Show awards) is supporting digitization and modernization for one of the leading banks in Lebanon and the Levant: Backbase has partnered with Société Générale de Banque au Liban (SGBL) to help the banking group replace their legacy technology with Backbase’s omni-channel digital banking platform.

“We are delighted to have been chosen by SGBL and to play a role in the transformation of their digital banking landscape,” Backbase CEO Jouk Pleiter said. “This expansive, customer-focused transformation brings SGBL into the same playing field as the fintechs, or even beyond.” Highlighting the ability of the platform to serve both its retail and corporate clients, Antoun Sehnaoui, Chairman and CEO of SGBL said the partnership would help the firm maintain its commitment to providing its customers with financial technology that is innovative and secure “to help keep them moving forward with confidence.”

The new platform from Backbase features easy-to-use environments, real time transactions, an enhanced user experience, faster time to market, increased security with multi-factor authentication, online client origination, and 24/7 banking services across branches and channels. The technology has already begun its rollout in Lebanon, with internet and mobile banking features going live in December. A broader regional rollout to Jordan, Cyprus, and the UAE is planned.

SGBL’s decision to deploy Backbase’s technology is timely. The company released version 6 of its digital banking platform late last year, bringing customers what VP of Product Management Jelmer de Jong referred to as “an API architecture ready for the Open Banking and PSD2 future.” The Amsterdam, Netherlands-based company and multiple-time Best of Show winner went live with French, mobile-only bank Orange Bank last fall, and was named Growth Partner of the Year by Capgemini. Most recently demonstrating its technology at FinovateEurope 2017 last February, Backbase was founded in 2003.