Backbase and Microsoft launched a global collaboration to help financial institutions transition to the Engagement Banking Era with the first fully integrated financial services cloud stack. The partnership allows financial institutions to re-architect banking around their clients. It expedites their digital transformation by using Backbase’s Interaction Banking Platform as the engagement layer within Microsoft Cloud for Financial Services.
“Most of our clients tell us they need to fast-track their digital transformation. Everybody’s competing for speed,” said Jouk Pleiter, CEO at Backbase.
He added, “But that is easier said than done. Digital transformation is challenging, requiring institutions to simultaneously modernize a multitude of complex business systems and their infrastructure. Together with Microsoft, we can deliver so much more value in less time, enabling organizations to adopt solutions specifically built for their industry quickly. You can now use modular solutions with built-in industry standards that augment your organization’s current investments and are extensible as business needs evolve and grow. Together we break down data silos, helping organizations take a data-first approach with a common data model that unifies information while adhering to industry compliance standards.”
“With the combined power of Microsoft Cloud for Financial Services and Backbase’s Engagement Banking capabilities, banks and credit unions can now more rapidly modernize their technology stack and move to a cloud-based operating model that is truly customer-centric,” added Bill Borden, corporate vice president of Worldwide Financial Services at Microsoft.
He also said, “It’s all about empowering financial institutions to spend less on legacy and more on innovating and creating value for their customers.”
Financial organizations must concurrently upgrade numerous layers of old technology and operations in order to re-architect banking around the client. Backbase’s Engagement Banking Platform on Microsoft Cloud for Financial Services provides a complete industrialized stack of pre-integrated capabilities that satisfy banks’ fundamental requirements for completing their digital transformation effectively:
This partnership demonstrates Microsoft’s long-term commitment to industries and investment in enabling digital transformation for customers and partners on their own terms and according to their individual requirements.