Following this announcement, Judo Bank will leverage Backbase’s Engagement Banking Platform (EBP) in order to design new digital experiences for its small and medium-sized (SME) business banking and term deposit customers. Furthermore, the incorporation of Backbase’s EBP is set to enable Judo’s relationship bankers to offer more time and resources to their users, while also allowing for monthly releases of additional tools and features going forward.
Judo Bank has a purpose-built, cloud-based technology stack that was developed to use adaptive technology principles. The financial institution will leverage Backbase’s digital platform in order to improve the overall digital client experience with its effective and secure design, as well as its security principles. In addition, Judo Bank aims to provide SME business owners with improved digital experiences in order to meet the needs, preferences, and demands of their users and clients.
Netherlands-based fintech engagement banking software Backbase had multiple collaborations and deals in the last couple of months, covering several different geographic areas around the world.
In August 2023, the company announced its partnership with SavvyMoney in order to enable community banks, financial institutions, and credit unions to offer access to real-time credit scores directly from their banking application.
Throughout this deal, Backbase was set to deliver financial institutions in-app services to aid customers in finding more value in their primary banking applications, by following the process of integrating SavvyMonay’s product into their Backbase Engagement Banking Platform. End-users were given the possibility to understand score factors that influence their overall score, run credit score simulations, update their entire credit report, as well as set credit score goals. The integration enabled members and clients to make informed, data-driven decisions regarding their finances.
Earlier in July 2023, Vietnam-based Orient Commercial Joint Stock Bank signed a strategic deal with Backbase to improve its banking modernisation development. The Orient Commercial Joint Stock Bank aimed to develop a customised digital banking system for each of its users across all channels. This process took place by fully digitising every client’s journey and touchpoint in order to provide them with secure and effective tools within computer platforms and mobile applications.
OCB was also set to incorporate in its suite of services the Engagement Banking Platform of Backbase for the overall improvement of its retail banking solutions. The EBP aimed to allow the bank to benefit from other factors as well, such as the possibility to fully control the building, owning, and customising different upstream and downstream requirements, the six-month go-live timeline, as well as local support for future project needs.
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