Press Release, 19 April 2022
Press Release, 19 April 2022
Sofia – April 19, 2022 — DSK Bank, Bulgaria’s largest financial institution, has announced its partnership with Backbase, the leading engagement banking platform provider. The industry-recognized software company will work closely with DSK Bank to accelerate its digital transformation and future-proof its operating model by re-architecting the digital solutions around the customer. The Bank will adopt the Backbase Engagement Banking Platform, deployed on Microsoft Azure, and Backbase’s Digital Banking and Digital Sales solutions, to enable frictionless self-service and digital onboarding capabilities for the bank’s retail customers.
As a member of the OTP Group (OTP), a Hungarian banking group providing services across Central and Eastern Europe, DSK Bank will leverage the master template developed in SKB Bank, the Slovenian member of OTP and the first Backbase customer from the group. This will enable an accelerated time to market for new digital solutions, as well as a lower cost of technology ownership due to economies of scale and a platform approach.
The front-to-back transformation aligns with DSK Bank’s mobile-first strategy to offer its retail and small business customers a distinctive, end-to-end digital experience. From customer acquisition, to customer servicing and product origination, the solution will cover the full customer lifecycle to drive customer loyalty and engagement. The Backbase Engagement Banking Platform will also empower the bank employees with a 360° view of customers, offering enhanced insight into their specific needs.
The partnership has the goal of reducing processing time, increasing customer satisfaction, and boosting transactions made on digital channels versus in-branch.
Tamas Hak-Kovacs, CEO at DSK Bank, says:
“DSK Bank decided to embark on a digital transformation that emphasizes both “digital” and “transformation” to the same extent. We would like to use the shift in customer expectations to reconfigure our products and processes around the customer needs, irrespective of the preferred channel of the customer. We believe that the Backbase Engagement Platform will enable us to provide the same great experience for clients that interact with us in the branch or transact using our mobile or desktop application.”
Banks usually maintain dozens of legacy applications to ensure customer access to various services via a number of channels (branch, phone, web, mobile app). The Backbase Engagement Banking Platform complements underlying systems with a comprehensive engagement layer architected around the customers and their needs. This makes the banking experience personalized, seamless, and easy to navigate, offering tailored experiences with the full array of banking services that power the full customer lifecycle.
Matthijs Eijpe, Backbase EMEA Regional Vice-President, says:
“Backbase helps financial institutions go beyond traditional banking and move towards true customer engagement. We are delighted that DSK Bank has selected us to be its partner on its customer-first digital journey and that we can help the bank maintain its best-in-class status now and into the future, by providing the outstanding banking services that customers have come to expect.”
DSK Bank is a subsidiary of the Hungarian Bank OTP, and a part of the parent company OTP Group – the largest financial service provider in Hungary and regional leader in Central and Eastern Europe. A longstanding leader of retail banking, DSK Bank has established its firm position in both private and corporate banking. The bank has the largest number of clients in the country – a leader in trust amongst financial services users.
As a modern company with a long-term strategy for growth and progress in the large-scale digital transformation of its business, the bank invests in the development of innovative offices, modern products, and personalized services for its clients.
Backbase is on a mission to help banks re-architect around the customer and embrace the paradigm shift to a platform model. The days of being held back by traditional legacy banking technology and infrastructure are over. Backbase is here to help financial institutions – from large banks to credit unions and everything in between – become customer-centric again.
We’re the creators of the Backbase Engagement Banking Platform – powering the full customer lifecycle. Our single, comprehensive platform powers every stage of the customer lifecycle, deepening customer loyalty and growing share of wallet – all while delivering seamless, frictionless experiences for both your customers and employees.
Industry analysts Forrester, IDC, Aite, Omdia, and Celent continuously recognize Backbase’s front-runner position, and over 150 leading financial institutions around the world are powered by the Backbase Engagement Banking Platform.
Industry analysts Forrester, IDC, Aite, Omdia, and Celent continuously recognize Backbase’s front-runner position, and over 150 large financials around the world are powered by the Backbase Engagement Banking Platform – including AIB, Barclays, Banamex, Bank of the Philippine Islands, BNP Paribas, Bremer Bank, Islands, Citibank, Citizens Bank, CheBanca!, Discovery Bank, Greater Bank, HDFC, IDFC First, KeyBank, Lloyds Banking Group, Metrobank, Navy Federal Credit Union, PostFinance, RBC, Société Générale, TPBank, Vantage Bank Texas, Westpac, WSECU, and Wildfire CU.