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Backbase partners with Microsoft to re-architect banking around the customer
Backbase has announced its global collaboration with Microsoft to help financial institutions move into the engagement banking era with a fully integrated financial services cloud stack .
The collaboration , which sees Backbase ’ s Engagement Banking Platform serving in the engagement layer within Microsoft Cloud for Financial Services , helps financial institutions re-architect banking around their customers and accelerate their Digital Transformation .
In order to re-architect banking around the customer , financial institutions must simultaneously modernise several layers of legacy technology and operations . The combined value proposition of Backbase ’ s Engagement Banking Platform on Microsoft Cloud for Financial Services offers a complete industrialised stack of pre-integrated capabilities that address banks ’ critical requirements for effectively executing their Digital Transformation : banking processing side , the Backbase Marketplace offers out-of-the-box connectors to leading core banking providers and best-of-breed fintech fulfilment partners .
• Cloud infrastructure layer – The cloud infrastructure is responsible for providing all the advanced cloud computing capabilities running the full stack in a scalable , secure and compliant manner . Microsoft leads this element with its Microsoft Azure cloud computing platform with Backbase ’ s Engagement Banking Platform fully using the underlying Azure capabilities .
This collaboration is a demonstration of Microsoft ’ s long-term commitment to industries and investment in powering Digital Transformation for customers and partners on their terms and specific to their needs .
“ Most of our clients tell us they need to fast-track their Digital Transformation . Everybody ' s competing for speed ,” said Jouk Pleiter , CEO at Backbase . “ But that is easier said than done . Digital Transformation is challenging , requiring institutions to simultaneously modernise a multitude of complex business systems as well as their infrastructure . Together with Microsoft , we can deliver so much more value in less time , enabling organisations to quickly adopt solutions specifically built for their industry . You can now use modular solutions with built-in industry standards that augment your organisation ’ s current investments and are extensible as business needs evolve and grow . Together we break down data silos , helping organisations take a datafirst approach with a common data model that unifies information while adhering to industry compliance standards .” x
• Customer engagement layer – The system of engagement that powers seamless customer journeys , from customer onboarding to managing day-to-day finances . At this level , the Backbase Engagement Banking Platform brings the customer-facing element , breaking down channel silos , providing a single orchestration hub to streamline any customer journey across every digital touchpoint .
• Employee productivity and banking processing layer – On the employee productivity side , Microsoft brings its widely used business applications such as Microsoft Dynamics 365 , Power Platform and Microsoft 365 , including Teams , that offer seamless interoperability with the Backbase Engagement Banking Platform . On the
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