After launching a global collaboration with Microsoft in November 2021 to re-architect banking around the customer, integrating its Engagement Banking Platform with Microsoft Cloud for financial services, this listing is the next step in bringing customer-first banking to more financial institutions and Azure customers.
Microsoft Cloud for financial services is an industry-specific, integrated set of cloud solutions, with the Backbase Engagement Banking Platform serving in the engagement layer and fully using Azure’s underlying capabilities. Backbase offers out-of-the-box customer journeys as well as an engine room of capabilities to help banks to build differentiated offerings. Banks can also leverage Backbase’s integration to core banking providers and fintech fulfillment partners through the Backbase Marketplace.
Microsoft then adds the cloud-based infrastructure layer while facilitating security, compliance, and interoperability allowing banks and credit unions to embrace an end-to-end cloud-based operating model.
The combined value proposition of Backbase’s Engagement Banking Platform on Microsoft Cloud for financial services offers an industrialised stack of pre-integrated capabilities that address banks’ critical requirements for executing their digital transformation:
Customer Engagement Layer — The system of engagement that powers customer journeys, from customer onboarding to managing day to day finances. At this level, the Backbase Engagement Banking Platform brings the customer-facing element, breaking down channel silos, providing a single orchestration hub to improve the customer journey.
Employee Productivity & Banking Processing Layer — On the employee productivity side, Microsoft brings its business applications such as Microsoft Dynamics 365, Power Platform, and Microsoft 365, including Teams, that offer interoperability with the Backbase Engagement Banking Platform. On the banking processing side, the Backbase Marketplace offers out-of-the-box connectors to core banking providers and fintech fulfillment partners.
Cloud Infrastructure Layer — The cloud infrastructure is responsible for providing all the cloud computing capabilities running the full stack in a scalable, secure, and compliant manner. Microsoft leads this element with its Microsoft Azure cloud computing platform, with Backbase’s Engagement Banking Platform fully using the underlying Azure capabilities.
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