A changing industry

Traditional banks have their work cut out for them. As we move into the era of engagement banking, decades of incremental tech, siloed infrastructures, and outdated legacy systems have put a stranglehold on their ability to innovate and provide real value for their customers.

The result? A fractured set of journeys for customers and employees. This often means lengthy manual processes, disjointed customer and employee-facing apps, and laborious onboarding procedures, all of which drive up your costs and reduce your agility.

Twenty years ago, customers might have looked the other way – but they won't anymore, not in the Engagement Banking Era. Today, platform players have taken the world by storm, and this isn't limited to the banking industry. From Uber to Spotify, from Amazon to Google – there's no escaping the dominating force of modern-day platforms. These innovative competitors are completely disrupting existing models with highly personalized, deeply engaging experiences, and banks must now scramble to keep up.

Here's the bad news: the traditional banking model will never be able to give these customers what they need, especially while banks are running around putting out fires caused by their point solutions.

So, what's the good news? Well, that's where Backbase comes in – joining forces with one of the leading cloud providers so financial institutions can move quicker and innovate better.

Backbase + Microsoft: The first industry cloud for financial services

For years, Backbase has shown banks how to own the customer relationship with a set of comprehensive, engagement-layer solutions. We provide a single orchestration hub for digital touchpoints, giving banks the tools to power seamless customer journeys and break down channel silos. Delighting customers and empowering employees is at the heart of what we do, and engagement is where it all started.

But that's not all we can do. In the last few years, we've matured our offerings by leaps and bounds, making strategic investments to help unburden banks across all layers. Moving towards a complete banking-as-a-service model has helped us empower financial institutions of all sizes to go fast, cut costs, and reduce risk.

With Backbase-as-a-Service, we built our infrastructure layer with a powerful, cloud-based solution. This enables banks to reallocate their costly maintenance budget into driving innovation. Rather than focusing on day-to-day struggles, you can pay attention to the things that matter: innovation, differentiation, and, most importantly, delivering value to your customers.

With Backbase Marketplace, we optimized the business apps layer by connecting banks with best-of-breed banking providers and pre-vetted fintech fulfillment partners. We brought in third-party capabilities so you don't have to build everything from scratch and can move quickly with minimal risk and cost.

And now, we've added the final piece of the puzzle with the Backbase Engagement Banking Platform as a leading engagement layer of choice on Microsoft Cloud for Financial Services. By leveraging the power of Microsoft Azure, we're able to offer your bank the advanced cloud-computing infrastructure layer that the Engagement Banking Era demands. By utilizing Microsoft's scalable, secure, and compliant cloud capabilities, in addition to our pre-existing capabilities and strengths, we can now provide a fully comprehensive, end-to-end solution. Now, more than ever, we're prepared to help financial institutions get to market quickly with a leading platform and cloud offering.

Our team at Backbase has brought all of this together in a common data model that allows capabilities to work seamlessly across the layers. No more disjointed journeys and point solutions.

This comprehensive, end-to-end Backbase solution will help your bank:

• Reduce friction and market risk across your digital ecosystem

• Accelerate value creation 

• Speed up implementation time

• Reduce total cost of ownership

• Enable confident innovation

You'll be able to unburden yourself and get a start on your digital transformation journey today, using our instantly available cloud blueprints.

We've been on this journey for quite some time, and we're extremely proud to see our vision of banking take shape. We look forward to discovering the future of finance – together. Click here to learn more.