Revolutionizing Banking: Backbase Introduces Game-Changing Intelligence Fabric for AI-Driven Productivity Gains

Backbase is making waves in the banking sector with the launch of its groundbreaking Intelligence Fabric layer, designed to enhance its Engagement Banking Platform with powerful data and AI capabilities. This innovative development marks a significant shift in how financial institutions can leverage data and artificial intelligence to boost productivity in critical customer service and sales operations.

As AI continues to reshape the banking landscape, it is essential for banks to adapt to the rapidly changing environment. Backbase's Intelligence Fabric is positioned as a vital tool for banks eager to harness the efficiency and improved risk management that AI provides, all while creating meaningful, context-sensitive customer interactions.

Unlocking AI Potential with Agentic AI

At the core of this new offering is the introduction of Agentic AI capabilities. This transformation allows banks to deploy AI Agents capable of supporting and directing customer journeys alongside foundational workflows, integrations, and real-time data interpretation. With access to comprehensive, up-to-date cross-bank data, these AI Agents can provide personalized customer responses and execute action plans ranging from simple tasks, like managing transactions, to more complex processes, such as onboarding new customers.

According to Gartner®, by 2028, one-third of interactions with Generative AI services will use autonomous agents to facilitate tasks, highlighting the growing importance of these technologies in banking. With built-in safeguards for compliance and governance, Backbase's AI Agents can assist banks in reinventing their service models to better meet customer needs.

Empowering Banking with Strategic Insights

Jouk Pleiter, Founder and CEO of Backbase, emphasized the revolutionary impact of the Intelligence Fabric, stating, “This is a pivotal moment in our mission to enable banks to harness data and AI at scale. By adopting autonomous AI Agents, we can significantly reduce operational costs across various functions like sales, marketing, and customer service.”

The Intelligence Fabric is anchored by Backbase’s Grand Central, recognized as the world’s first Integration Platform-as-a-Service for banking. This platform seamlessly integrates data from diverse avenues, including core banking systems, payment gateways, and customer relationship management tools. It establishes a single source of truth, accessible not only to Backbase but also to partner banks and vendors, promoting a more collaborative data ecosystem.

Harnessing AI for Future Banking Challenges

Backbase's Intelligence Fabric is already targeting several essential use cases, such as:

1. Conversational Banking: Utilizing large language models to streamline daily banking tasks, enhancing user experience across digital platforms.

2. Customer Lifetime Orchestration: Creating AI-driven campaigns that automate product activation and suggest relevant offerings based on customer insights.

3. Advanced Financial Insights: Applying AI and machine learning to analyze customer behavior, facilitating better cash-flow forecasts and risk assessments.

4. AI-Augmented Customer Support: Implementing Generative AI models to improve customer service through intelligent chatbots and AI-driven insights for support teams.

In summary, Backbase's Intelligence Fabric represents a major step forward for banks looking to thrive in a digital-first world. By integrating advanced AI capabilities, institutions can enhance productivity, improve customer engagement, and better navigate the complexities of modern finance. As financial institutions race to adapt, the message is clear: those who embrace AI technologies today will lead the charge into a more efficient and customer-centric banking future. Stay tuned, because the AI revolution is just beginning!