Backbase & Bahrain FinTech Bay partner to accelerate digital banking adoption in the region

The partnership will see both parties create new opportunities for regional players across the financial technology sector.

Manama, Bahrain, 20 June 2022: Backbase, one of the leading engagement banking platform providers, 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.”

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About Backbase:

Backbase is on a mission to re-architect banking around the customer.

We created the Backbase Engagement Banking Platform – a unified platform with the customer at the center, helping banks orchestrate seamless journeys across every stage of the customer lifecycle.

Industry analysts Forrester, Gartner, Celent, Omdia and IDC continuously recognize Backbase’s category leadership position. Over 150 financials around the world have embraced the Backbase Engagement Banking Platform - including National Bank of Bahrain, Ila Bank, Banque Saudi Fransi, AIB, Barclays, Bank of the Philippine Islands, BNP Paribas, Citibank, Citizens Bank, CheBanca!, Discovery Bank, Greater Bank, HDFC, IDFC First, KeyBank, Lloyds Banking Group, Navy Federal Credit Union, PostFinance, RBC, Société Générale, TPBank, Vantage Bank Texas, Westpac, and Wildfire Credit Union.

Backbase is a privately funded fintech company, founded in 2003 in Amsterdam (global HQ), with regional offices in Atlanta (Americas HQ), New York, Boise, Mexico City, Toronto, London, Cardiff, Dubai, Kraków, Singapore, Sydney, Australia and Tokyo.

Backbase.com

About Bahrain FinTech Bay (“BFB”)

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