Albania-based private banking firm Tirana Bank has formed a partnership with Backbase to advance its digital banking capabilities in Southeast Europe.
This agreement represents the bank’s largest investment in technology to date, focusing on enhancing its position in the region’s digital banking sector.
Supported by BALFIN Group, an Albanian business conglomerate, Tirana Bank aims to increase its digital customer base within the next five years.
The initial phase will focus on improving retail banking through expanded digital services, including online and mobile banking platforms and digital lending options for credit cards and consumer loans. There are also plans to extend these services to business banking clients.
The initiative involves implementing Backbase’s cloud-native Engagement Banking Platform, which supports compliance with security and regulatory standards while allowing for operational growth. This shift moves the bank from an in-house digital system to a platform that facilitates ongoing innovation and quick feature updates.
Tirana Bank CEO Dritan Mustafa said: “Our vision is to become the leading digital bank in Albania, and this transformative partnership with Backbase is the cornerstone of that strategy.
“We’re embarking on an ambitious growth journey to triple our digital customer base, and Backbase’s Engagement Banking Platform gives us the technological foundation and flexibility we need to scale rapidly while delivering the innovative, customer-centric banking experiences that will drive our expansion.”
Tirana Bank is said to have brought together a team of international experts in banking and digital transformation to lead this project. The bank selected Backbase after a competitive tender process, noting the platform’s adaptable architecture and history of supporting fast-paced innovation.
Delivery partner Endava is managing the implementation, providing artificial intelligence (AI) expertise to help accelerate market readiness and platform development.
Backbase CEO and founder Jouk Pleiter said: “Tirana Bank’s vision for digital transformation perfectly aligns with our mission to help banks re-architect around their customers, and drastically improve their operating models utilising our Engagement Banking Platform.
“This partnership showcases the growing demand for a sophisticated all-in-one banking platform and reinforces our position as the partner of choice for forward-thinking financial institutions in the region and beyond.”
Earlier this month, Backbase announced a partnership with Synpulse to enhance digital transformation for banks in Asia-Pacific (APAC). This collaboration aims to apply successful strategies from Europe to improve customer experiences and operational efficiency in the APAC region.
