SGBL turns to Backbase for digital banking revamp
Lebanon-based Société Générale de Banque au Liban (SGBL) has chosen Backbase for a revamp of its front-end banking solutions.
SGBL will replace its legacy internet and mobile banking systems with Backbase’s omnichannel digital banking platform.
Roll-out has begun in Lebanon, and the first go-live happened in December 2017 for domestic internet and mobile banking, with a further regional roll-out planned for subsidiaries in Jordan, Cyprus and the UAE.
Antoun Sehnaoui, chairman and CEO of SGBL, says Backbase will “enhance agility in our suite of distribution channels as we adapt to a dynamic retail and corporate client base”.
SGBL sees a range of trends emerging in the region for banking products, where the sector faces several challenges; local regulators impose tight constraints, market conditions can be difficult, and fintechs have introduced a new level of disruption.
According to Backbase, its platform will enable SGBL to be the first to offer PSD2 (the revised Payment Services Directive) to clients and comply with international open banking regulations and standards.
For its back office tech, SBGL is a long-standing customer of BML Istisharat – it uses the ICBS core system for its domestic operations as well as in Cyprus and Jordan. In 2014, the bank signed with Temenos to implement its T24 system at home and internationally, but the project is yet to come to fruition, FinTech Futures understands.
The ICBS solution has also been implemented at SGBL’s start-up venture in the UAE, Liberty International Bank.
