Backbase partners with Microsoft

Wednesday 10 November 2021 10:23 CET | News

Global Engagement Banking Platform provider Backbase has partnered with Microsoft to help financial institutions move into the Engagement Banking Era with the first fully integrated financial services cloud stack. 

The collaboration, which sees Backbase’s Engagement Banking Platform serving in the engagement layer within Microsoft Cloud for Financial Services, helps financial institutions re-architect banking around their customers and accelerate their digital transformation. To re-architect banking around the customer, financial institutions must simultaneously modernise several layers of legacy technology and operations. The combined value proposition of Backbase’s Engagement Banking Platform on Microsoft Cloud for Financial Services offers a complete industrialised stack of pre-integrated capabilities that address banks’ critical requirements for effectively 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. 

According to the official press release, this collaboration is a demonstration of Microsoft’s long-term commitment to industries and investment in powering digital transformation for customers and partners, on their terms and specific to their needs. 

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Keywords: partnership, financial services, financial institutions, digital banking, Microsoft
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech