US-based First Bank has leveraged the Backbase Engagement Banking Platform in a bid to support its digital transformation strategy.
The move is part of First Bank's broader transformation strategy aimed at delivering a seamless, digital-first experience to its customers.
First Bank is a family-owned institution that offers a diverse range of services covering retail, business, wealth, and lending. With the adoption of Backbase, First Bank now operates on a unified platform, streamlining its offerings from consumer and business banking to commercial and wealth management. The centralised platform enables the integration of various existing technology solutions, such as fraud management and payments, while also facilitating the incorporation of new technologies into the bank's operations.
In the company press release, officials from First Bank emphasised the significance of these new developments, as well as their importance in the bank's digital transformation journey. Having changed its entire digital ecosystem, including infrastructure, core systems, cloud migration to Microsoft Azure, middleware upgrades, and CRM enhancements, First Bank now aims to deliver a customer-first banking experience through Backbase.
The Backbase Engagement Platform was designed to offer flexibility to banks, allowing seamless integration with third-party applications and customisation of customer journeys. According to the official press release, First Bank has integrated 13 different systems at the time of writing, with plans for additional integrations to improve future customer offerings. First Bank's in-house developers will leverage Backbase's managed hosting services for ongoing hosting, updates, and upgrades.
Officials from Backbase expressed enthusiasm about the partnership, highlighting First Bank's utilisation of the platform as a testament to the benefits of a centralised system. The platform's capabilities aim to help financial institutions put legacy systems behind them while accelerating the introduction of new products to the market.
In September 2023, Backbase partnered with identity verification and fraud prevention platform FrankieOne to simplify onboarding for financial institutions in Australia and New Zealand. This joint effort aimed to help Australian and New Zealand (ANZ) banks and credit unions to onboard customers and members seamlessly, combining Backbase’s personalised banking experience platform with FrankieOne’s robust identity verification solutions.
In 2022, Backbase launched its Engagement Banking Cloud (EBC) offering, delivering to customers a single platform that extends across all business lines and supports the full customer lifecycle with improved customer journeys.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now