Transform and thrive with Backbase’s engagement platform
It all starts with your digital transformation. With the Backbase Engagement Banking Platform, you can leave the old ways of banking behind and re-architect your bank around your customers. This means more loyalty, retention, and satisfaction — all with a single solution.
Traditional banking is broken
As technology-savvy platform players emerge, banks and credit unions are now faced with an existential threat as they struggle to meet their customers’ expectations. To fight back, banks need to overcome three major challenges:
Legacy silos
Incremental and standalone point solutions have resulted in broken customer journeys across products, channels, and services, making it impossible to create holistic experiences.
Lack of agility
The fragmentation and complexity of these legacy systems make banks slow to change and force them to spend most of their IT budget on maintenance.
Unsustainable costs
These complexities leave most banks with an unsustainable cost structure while preventing them from meeting the ever-changing expectations of their customers.
To survive, banks need to make a paradigm shift
Banks must rethink and redefine how they operate so they can thrive in this new era.
Engagement Banking is the path forward
Now is the time for traditional banking to move from limiting vertical silos to a horizontal platform approach.
Value aggregation
A platform brings together what customers want and need by integrating and aggregating value from multiple sources (products, services, data), both internal and external.
Orchestrating seamless journeys
After aggregating value from multiple sources, a platform orchestrates seamless customer journeys on any touchpoint, across the full customer lifecycle.
Delivering financial wellness
A platform leverages data to help customers get better financial insights and allows banks to create deeper customer intimacy to help improve their financial lives.
It's time to leave traditional banking behind
Engagement Banking is the giant leap banks and credit unions have been waiting for – a way to leave vertical silos, point solutions, and fragmented journeys behind and lead in the new era of banking.