, Online Press Release from Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina
Business, Banking and Investments(Banking & Investments)
Filter PR by
Backbase Expands Commitment to KSA with New Center and Appointment of New Senior Leadership
Backbase Expands Commitment to KSA with New Center and Appointment of New Senior Leadership
●      Backbase’s new regional office opens at the Kingdom Centre, Hugayat Tower, Riyadh, Kingdom of Saudi Arabia 
●      Ahmad Guandour is the first new hire for Backbase leadership team and joins as Director of Sales Middle East and is based in Riyadh.
●      The announcements highlight Backbase’s commitment to KSA with acceleration of investment that aims to make the company a strong partner for financial institutions seeking to implement the Backbase Engagement Banking Platform.
Riyadh, KSA, August 10 2021: Backbase is reaffirming its commitment to Saudi Arabia with the launch of a new regional office and the appointment of a new senior leadership team in the country. This latest expansion follows increasing market demand in Saudi Arabia, with SAMA – the Kingdom’s financial regulator – offering new licenses and open banking development as part of Vision 2030.
By opening a new regional office in the Kingdom Centre, Hugayat Tower, Riyadh, Backbase is able to get closer to existing and future partners and thereby empower greater success for customers.
“The launch of our new regional center and the first appointment to our senior leadership team in the Kingdom highlight Backbase’s commitment to Saudi Arabia. This expansion is a recognition of the importance of the Saudi market to Backbase and the rapid growth the country is undergoing as part of Vision 2030. We have seen positive demand for the Backbase platform in KSA and by expanding our presence in the country we will be better placed to develop new partnerships,” said Matthijs Eijpe, Regional Vice President EMEA at Backbase.
This growth will enable Backbase to support new partnerships more effectively by being closer to clients and thereby enabling them to successfully complete their digital transformation journeys by implementing the Backbase platform. It will also allow Backbase to continue supporting existing partnerships that are now expanding into the banking services sector in KSA. These include the National Bank of Bahrain, which is branching into the Kingdom with the Backbase Engagement Banking platform.
“A key element of this strategy is the appointment of Ahmad Guandour, who joins our senior leadership team as Director of Sales Middle East and will be based in Riyadh. We are delighted to welcome Mr Guandour, who brings a wealth of experience of the region’s banking software industry and has worked with various KSA institutions in his previous roles. He has worked within the sector for around 20 years in the Middle East region and has been focused on developing banks in Saudi Arabia. A graduate of Lebanese American University with BAs in Economics and Finance, Mr Guandour is a passionate and knowledgeable professional who is determined to help banks develop to meet today’s customer expectations through digital transformation.”
The driving force behind Backbase’s push into Saudi Arabia has been the increasing demand especially with fintech investments in the country. The Saudi Arabian Monetary Authority (SAMA) has also issued new Payment Services Provider Regulations (PSPR) for foreign fintechs, and new licensing guidelines for digital only banks, facilitating innovation in the Kingdom and forcing banks to ramp up their digital investments. This is being fueled by heightened demand among consumers in KSA. A recent Backbase commissioned YouGov poll of 1,011 people in the Kingdom found 88% of consumers now prefer digital banking services over visiting a physical branch in the post Covid-19 era.
Furthermore, the study found that 82% of respondents now access digital banking services at least once a week with 39% willing to switch banks due to poor customer service. Perhaps more worrying for financial institutions is the fact that just over a third of those questioned said their bank’s existing digital and online offerings were weak. Backbase is currently in the process of establishing a small field organization that will be made up of Commercial Leadership and Customer Success Organisation teams in the Kingdom to help facilitate digital transformation for partners.
Backbase has built up an extensive track record of success operating in the region and supporting local institutions. It is now accelerating its existing commitment by investing more to assist local banks and thereby enable them to seize current market opportunities and enter the engagement banking era. 

Posted by : Saudi Arabia,Riyadh, Jeddah, Dammam, Meccca and Medina PR Network Editorial Team
Viewed 13646 times
PR Category : Banking & Investments
Posted on : Tuesday, August 10, 2021  2:42:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of
Previous Story : Saudi Arabia's SISCO reports SAR 54.8 Million Net Income for...
Next Story : Saudi Graduates Start Placement With Mercedes-eq Formula E T...
Email this article Print this article

Share this article with your friends and followers
Back to Section Home

Related Stories

Most Viewed Press Release posted in the last 7 days
Pandora Introduces New Limited-Edition Charm in Support of Unicef [8466-Views]
M•A•C Cosmetics News: M•A•C X Rosalia [8405-Views]
Oral-B iO™, The Biggest Innovation in Oral Care History [8355-Views]
Big Crown ProPilot Big Date Bronze- Flair Time [7310-Views]
Global Music Stars Relaunch Pandora ME for the Creative Next Generation [6779-Views]
The Tonda PF Collection- A Purist's Delight for Those in the Know [6208-Views]
For Every Story, For Every Me [6206-Views]
New Program for Saudi Arabia Healthcare Professionals Targets Healthcare Management in Qatar [5188-Views]
TURKEY'S Rumeysa Gelgi is warded GUINNESS WORLD RECORDS™ Title for Tallest Woman Living with a Heigh... [5074-Views]
LG Releases Preliminary Earnings For Third-Quarter 2021 [4657-Views]
Kristina Fidelskaya — Spring / Summer 2022 Collection 'Peace' [3912-Views]
Get Festive with Benefit Cosmetics' Advent Calendar [3519-Views]
SHINE INTO THE LIGHT by Hanan Al Najadah [3499-Views]
To the Moon and Back: Pandora's new Moments Collection Celebrates Togetherness this Season [3465-Views]
TCS Saudi Arabia Wins World Leadership Congress Award [2935-Views]
Leading Saudi Companies Join BCG's Jeel Tamooh Virtual Career Fair As Program's Third Annual Edition... [2912-Views]
Records to Bounce, Flip and Soar for Guinness World Records Day 2021 [2788-Views]
SFD Highlights its Leading Role in Global Renewable Energy Initiatives in Conjunction with the Middl... [2444-Views]
New Ninjamas Nighttime Bedwetting Underwear Helps Kids To Conquer The Night [2318-Views]
50 Days to Go Interview: "Formula 1 provides a great platform to showcase the cultural and comm... [2063-Views]
RSS Facebook Twitter LinkedDin on Instagram
Top Sections
Top Stories