BSF launches next-generation banking platform with Backbase as part of the bank’s digital transformation
RIYADH / AMSTERDAM – 14 May – Backbase, the global leader in AI-powered banking technology, today announced the successful launch of BSF’s next-generation digital banking platform. The new solution delivers enhanced omnichannel services via BSF mobile and BSF online, marking a key step in the bank’s digital transformation.
Accelerating BSF’s digital banking ambitions
The platform supports BSF’s ambition to become a leading bank in digital innovation, BSF’s new digital banking ecosystem includes retail mobile and web banking platforms, delivering seamless account management, advanced payment solutions, and enhanced security features – all unified through Backbase's AI-powered Banking Platform.
Key innovations include:
Seamless money movement: Customers can conduct domestic and international transfers, SADAD bill payments, and access Western Union services effortlessly.
Advanced card management: Apple Pay integration and lifestyle rewards, allowing customers to enjoy greater flexibility and convenience.
Digital sales capabilities: Customers can benefit from a smooth onboarding process and complete their credit card applications in no time.
Setting new standards in banking security and customer experience
BSF's implementation includes cutting-edge security features, such as panic mode enablement, device management rules, and GPS consent capture, ensuring customer safety while maintaining ease of use. The platform's multi-factor authentication system, including biometric verification and OTP validation, is destined to set new standards for secure banking in Saudi Arabia.
Led by Backbase in collaboration with Hexaware for middleware integration, the implementation fulfills BSF's vision of providing a truly seamless, omnichannel customer experience. This partnership enables BSF to tap into new market segments through expanded digital channels, enhance engagement with a mobile-first approach, and shift to self-service for routine transactions, while optimizing human interaction for complex services.
BSF's successful transformation exemplifies how forward-thinking financial institutions in the Middle East are embracing digital platforms to better serve their customers. This implementation sets a new standard for digital banking excellence in Saudi Arabia and demonstrates our platform's ability to deliver truly transformative banking experiences. It aligns perfectly with Saudi Vision 2030's goal of creating a digital-first economy, where innovative financial services play a crucial role in the Kingdom's transformation.
Matthijs Eijpe
Regional Vice President - EMEA at Backbase
The results of this initiative reflect the seamless and efficient efforts from the Backbase team in building a truly integrated and enhanced digital experience for our customers. This is just the beginning – we're already working on the next set of milestones for our Digital Channels. Our partnership with Backbase continues to be instrumental in accelerating our digital transformation in line with the industry evolution, the overall strategy of BSF and exceeding our customers' expectations.
Abdullah Alwabel
Head of Group Digital at BSF
About BSF
BSF, a Joint Stock Company established by Royal Decree No. M/23 dated June 1977, is one of the leading banks in Saudi Arabia. It has its head office in Riyadh and regional offices in Jeddah, Al-Riyadh and Al-Khobar. Through its 85 branches/self-service centers, 520 ATMs and over 28,000 points of sale, BSF is committed to providing innovative and excellent services to its clients. BSF offers a wide range of financial services in Corporate Banking and Retail Banking. The Bank also provides investment banking, asset management and investment funds services, in addition to brokerage services through BSF Capital. BSF’s main focus is to provide a new standard in customer experience that stands out for its simplicity and transparency further empowering its customers while offering them personalized advice. BSF's business model is customer-oriented, with the goal of being a leader in customer satisfaction on a national and regional level.