Tirana Bank partners with Backbase for digital banking upgrade

The agreement marks the bank’s most significant investment in technology to date, surpassing previous upgrades to its core banking systems. The initiative is part of a wider effort to expand its digital offerings and strengthen its position in the region’s financial sector.

Focus on digital expansion 

Owned by Albania’s BALFIN Group, Tirana Bank aims to significantly increase its digital customer base over the next five years. The project will initially focus on improving retail banking services, with plans to introduce new web and mobile banking applications, expand digital lending options for credit cards and consumer loans, and eventually extend these capabilities to business banking clients. 

A representative from Backbase stated that the partnership aligns with the company’s approach to modernising financial institutions through its Engagement Banking Platform. According to the representative, the platform will help Tirana Bank streamline its operations while enhancing customer interactions. 

Tirana Bank’s decision to implement Backbase’s cloud-native platform allows for continuous updates, ensuring compliance with security and regulatory requirements. According to the official press release, the change from an in-house digital infrastructure to Backbase’s system is expected to improve operational efficiency and support future innovation. 

A Tirana Bank official described the partnership as a key component of the bank’s digital transformation strategy, aimed at supporting its market presence and delivering more efficient banking services. The official emphasised that the platform’s flexibility will support the bank’s expansion plans while offering improved customer experiences. 

Backbase was selected following a competitive evaluation process, with Tirana Bank citing the platform’s adaptability and technological capabilities as key factors in its decision. The implementation will be managed in collaboration with Endava, a technology services company, which will provide expertise in artificial intelligence and digital innovation. A representative from Endava highlighted AI’s growing role in financial services, noting that the collaboration aims to enhance personalisation and operational efficiency for Tirana Bank.