Following this announcement, the collaboration is expected to expand the regional resource landscape and provide financial institutions with the possibility to address the demands of the Nordic market with tailored solutions for their customers.
In addition, the deal will also enable Nordic banks to rapidly and securely develop, by modernising outdated legacy systems. Both Backbase and Siili Solutions will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
As Nordic banks look to modernise and further develop their suite of services, this partnership is set to bring together Backbase's Banking Platform with Siili's deep regional expertise and AI capabilities. At the same time, the incorporation will provide banks with the capability to move faster in their digital transformation journey, while keeping full control of their strategy as well.
Included in the benefits offered by the partnership are the rapid deployment of modern banking services through pre-built applications and journeys, the optimised ability to design personalised customer experiences across all channels, and the process of catering to local needs through the local incorporation of expertise backed by improved banking technology. In addition, banks will also have access to practical AI implementation and strategies, accelerated time-to-market for new solutions, as well as reduced total cost of ownership through platform consolidation.
Furthermore, the collaboration will also focus on the shared commitment to optimising the manner in which banking services in the Nordic region are implemented and developed, providing access to improved technology with local support to build the banking experience customers expect.
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