Backbase awarded FinovateEurope’s ‘Best of Show’ for its Digital Banking Platform

Backbase launched their latest innovations at Finovate Europe 2017, the leading fintech conference in Europe. The concept enables banks to explore and combine Artificial Intelligence and PSD2 demonstrating how regular mobile banking apps can be transformed into a smart personal assistant – a PA that helps the consumer make better financial decisions.

The Backbase solution is about making complex tasks simple, and being incredibly relevant to customers by providing personalised experiences – right on time, in the right context. The Backbase platform empowers banks in leveraging their vast data records into actionable insights and advice for their customers.

With the Backbase Digital Banking solution, banks will be able to create personalised customer journeys hyper targeted to users, resulting in increased customer acquisition and retention. Instead of simply providing customers with traditional banking products such as account access and payment tools, the new solution will push the boundaries of personalisation to the next level by delivering tailor-made customer journeys based on real-time behavior, interests, location and preferences.

Also, the solution showcases how PSD2 can be seen in a new perspective, from a challenge to a huge opportunity for banks – banks and fintech will be able collaborate and implement smart sales campaigns to provide new opportunities to innovate, open up sales and origination.

The Backbase Digital Banking platform provides banks with a flexible solution to orchestrate and streamline daily customer interactions in a one-to- one, highly personalised manner. Within the Backbase platform, banks can easily compile customer profiles with unique identifiers that can guide content, offers, interactions, and recommendations across daily interactions, offering each individual customer a unique journey.

Jouk Pleiter, CEO at Backbase comments, “AI and PSD2 are going to have a big impact on the future of mobile banking. Banks can now surpass the simple transactional features they offer and enhance the customer journey with relevant personal virtual assistant capabilities that truly help consumers to improve their financial life. Customer profiles and preferences become richer with each interaction they make, and as the customer adds new steps to their journey, ‘The Everyday Bank’ learns what they want and need.”

He further adds, “It’s a great honour to be once again recognised by the Finovate audience for our contribution to raise the bar in digital banking innovation”.

Author: Dylan Jones

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