Tim Rutten, CMO at Backbase, explores at Money Motion 2025 how traditional banks can modernise with AI, data, and personalisation to compete with fintech challengers like Revolut.
In this video interview, Tim Rutten, Chief Marketing Officer at Backbase, discusses how traditional banks can shift from purely transactional services to deeper, customer-centric engagement models. Drawing from Backbase's experience working with over 100 global banks, Tim outlines a roadmap for integrating technology, AI, and a unified data strategy into legacy infrastructures.
Tim highlights the pressure traditional institutions face from agile fintechs and neobanks like Revolut. While many banks remain profitable, they feel the squeeze from competitors redefining customer expectations. He describes Revolut as a ‘North Star’ — not for its feature set, which is ever-changing, but for its operational model. Revolut’s success lies in its personalised, data-driven user experience and its built-in growth engine that nudges customers toward new products.
To replicate this model, Tim emphasises the need for a single integration layer that consolidates data from disparate sources — ledgers, CRMs, and loan systems — into one unified domain model. This forms the foundation for advanced data consumption and AI application, powering both internal efficiency and enhanced customer experiences like conversational banking.
Tim also addresses the importance of data governance. While automation is crucial, human oversight is essential to ensure accuracy and prevent bias. ‘Keep the human in the loop’, he advises — this hybrid model gives banks what he calls ‘superpowers’.
He warns against fragmented solutions and siloed use cases, urging banks to adopt a unified platform approach to remain agile and competitive.
Despite the digital gap, traditional banks hold major advantages: trust, reputation, and large (often underutilised) customer bases. Tim encourages institutions to maximise existing portfolios through strategic modernisation and targeted engagement, ensuring they maintain their ‘right to play’ in the evolving financial ecosystem.
Watch the full interview to discover how your bank can modernise, compete, and thrive in the age of AI-powered finance.
About Tim Rutten
Tim discovered his passion for entrepreneurship and FinTech while at Backbase. He dedicated the first half of his decade-long Fintech career to advising C-suite executives on future-proofing their technology stack. As a board member of Backbase, and currently in the position of CMO, Tim is the overall driver of the marketing strategy and execution. He is also a passionate thought leader, sharing valuable insights on the digital banking space and how to make real progress in business transformation and progressive modernization efforts.
As an alumnus of the Kauffman Global Scholarship (Harvard University, Stanford GSB, and MIT), Tim holds a BSc and MSc in International Business & Entrepreneurship from Maastricht University.
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