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Backbase & Valleysoft: New Digital Banking Era in Middle East & Africa

Tuesday, 15 August 2023 11:35
Backbase & Valleysoft: New Digital Banking Era in Middle East & Africa

(BACKBASE) - With digital banks growing, and competition heating up among incumbents, new partnership offers banks accelerated innovation

Backbase, the global leader in Engagement Banking announced today its strategic partnership with Valleysoft, a premier business and IT consulting provider with a strong presence across the Middle East and Africa. This collaboration aims to enable banks in the region to fully immerse in Engagement Banking, providing intuitive, instant banking services that far exceed customer expectations.

The number of Middle Eastern digital banks has grown from 1 in 2012 to 25 in 2021 according to Fincog, while Statista puts the number of Sub-Saharan African digital banks at 21. This increasing competition, combined with increasing expectations for millions of customers across the region, is driving incumbents to strengthen their digital banking offerings.

In a banking world where customer experience is paramount, Valleysoft's recognition of the need for accessible banking services, available anytime and anywhere, is instrumental. Backbase, globally recognized for its customer-centric Engagement Banking Platform, pairs perfectly with Valleysoft to meet this demand. The partnership is set to reshape the digital banking ecosystem in the region, with a focus on transforming financial services and guaranteeing unparalleled customer experiences.

Valleysoft, a trusted pillar in the IT services sector, brings a wealth of knowledge and experience in resolving complex business and technical challenges. As part of this collaboration, regional customers of Backbase will benefit from the expertise of Valleysoft's highly skilled consultants. These experts will address pivotal issues and ensure seamless implementation of Backbase's products, while strictly adhering to industry best practices.

This collaboration aims to reshape the definition of customer-centricity in the digital banking realm, initiating groundbreaking progress in the region and setting new industry benchmarks. With our combined proficiencies, we are confident this partnership will set a transformative course, bringing substantial benefits to both the banks and their customers.

"Together with Valleysoft, we will leverage our award-winning Engagement Banking Platform to provide immediate and frictionless banking services tailored to the specific needs of the region,” Aymen Daoud, Regional Head of Sales at Backbase, stated. “This alliance will guarantee customer experiences that surpass expectations and set unprecedented industry standards."

"Our profound understanding of the regional business and IT landscape, paired with Backbase's unrivaled engagement banking platform, will redefine customer-centricity in the digital banking arena,” Amin Elgendy, CEO at Valleysoft, added. “Valleysoft's seasoned consultants will bring their exhaustive knowledge and substantial experience to the table, assisting in the implementation of Backbase solutions, mitigating key issues, and ensuring compliance with industry best practices."

About Backbase

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

Backbase created the Backbase Engagement Banking Platform a unified platform with the customer at the center, empowering banks to accelerate their digital transformation. From customer onboarding, to servicing, loyalty and loan origination, our single platform open and frictionless, with ready-to-go apps improves every aspect of the customer experience. Built from the ground up with the customer at the heart, our Engagement Banking Platform easily plugs into existing core banking systems and comes pre-integrated with the latest fintechs so financial institutions can innovate at scale.

Industry analysts Gartner, Celent, Omdia and IDC continuously recognize Backbase’s category leadership. Over 120 financials around the world have embraced the Backbase Engagement Banking Platform including AIB, Banorte, Barclays, BIAT, Bank of the Philippine Islands, BDO, BNP Paribas, Banque Saudi Fransi, BRD, Citibank, Citizens Bank, Discovery Bank, First National Bank, HDFC, Ila Bank, KeyBank, Lloyds Banking Group, NatWest, Navy Federal Credit Union, OTP Group, PostFinance, Raiffeisen, RBC, Standard Bank, Saudi National Bank, Société Générale, Truist, and TPBank.

Backbase is a private fintech company, founded in 2003 in Amsterdam (Global HQ), with regional offices in Atlanta (Americas HQ), Boise, Cardiff, Dubai, Hyderabad, Kraków, London, Mexico City, Milano, New York, Singapore (Asia HQ), Sydney, and Toronto.

About Valleysoft

Valleysoft was founded in late 2006 by Mr. Amin Gendy. Aided by his extensive experience and knowledge of the business software market in the United States and the Middle East, Valleysoft has captured a significant share of the expanding global IT services market through flawless execution and employing the highest standards of quality control and service provision.

Valleysoft is a regional Business and IT consulting firm serving clients around the Middle East. For over 17 years, Valleysoft has been working with global partners in different industries to solve complex business and technical problems ranging from enterprise-class application development and maintenance to worldwide infrastructure management.

As a client-focused and process-oriented company, Valleysoft stands as a capability-rich professional organization. Our maturity in quality delivery and operational discipline is depicted through our work. As a result, we are able to deliver to our clients world-class services at best values.

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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