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.
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.
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.