Latest news with #BankingPlatform
Techday NZ
30-04-2025
- Business
- Techday NZ
Backbase unveils AI platform to boost bank efficiency & growth
Backbase has introduced an AI-powered Banking Platform designed to support banks in accelerating growth and operational efficiency. The newly launched platform unifies customer servicing and digital sales, aiming to help financial institutions address current industry challenges attributed to legacy technology and fragmented data architectures. By integrating agentic AI that not only suggests actions but also autonomously executes tasks, Backbase seeks to move banks from experimentation in artificial intelligence to production-ready deployment. Jouk Pleiter, Chief Executive Officer and Founder of Backbase, stated, "Banks don't need more pilots - they need outcomes." "With our AI-powered Banking Platform, we're going all-in on the AI opportunity and empower banks to boost productivity, automate intelligently, and unlock growth faster than ever." The platform is based on Backbase's Intelligence Fabric, a unified data layer that compiles customer behaviours, transactional data, and operational information to generate real-time, actionable intelligence for banks. This enables institutions to transform customer engagement through self-service and instant support, automate complex operational workflows, and enhance revenue with AI-enabled up- and cross-selling opportunities. Backbase explains that the introduction of agentic AI represents a modular and controlled approach to embedding AI in banking operations. These intelligent agents function within set boundaries, automating tasks and guiding staff towards optimised next steps in both sales and service contexts across banking front and back offices. Security and compliance are core features of the platform. Every AI-driven decision and action is designed to be transparent, secure, and auditable. Backbase indicates that agent development and deployment are managed within a tightly controlled environment to maintain compliance, mitigate risk, and ensure operational integrity as banks scale adoption. Recognising the skills barrier many financial institutions face in adopting AI, Backbase has introduced the AI Factory model. This approach involves embedding Backbase's own AI specialists within client teams to facilitate rapid development and deployment of new use cases. The model is designed to help banks translate AI innovations into actionable results efficiently and effectively. Pleiter added, "This isn't proof-of-concept AI. This is a packaged, production-ready operating model to move banks from experimentation to execution, fast. AI waits for no bank. It's not a wait-and-see - it's here, and it's rewriting the rules of the industry. The time to act is now." Backbase reports that the AI-powered Banking Platform is already in operation with early adopters, who are claiming improvements in efficiency and growth. The platform is now available globally for banks seeking to enhance their competitive positioning through AI while managing compliance and operational risks. Backbase is headquartered in Amsterdam and operates regional offices in cities such as Atlanta, Singapore, London, Sydney, Toronto, Dubai, Kraków, Cardiff, Hyderabad, and Mexico City. The company currently supports digital and AI transformations for over 150 financial institutions worldwide across retail, SME, commercial, private banking, and wealth management sectors.
Yahoo
16-04-2025
- Business
- Yahoo
Digital Banking Platform Market Disruptions: The $15.77 Billion Opportunity Vendors Can't Afford to Miss
Digital Banking Platform Market Set for Explosive Growth, Projected to Reach $15.77 Billion by 2030 MIDDLETON, Mass., April 16, 2025 /PRNewswire/ -- QKS Group, a premier market intelligence and advisory firm, has unveiled its latest comprehensive analysis of the global Digital Banking Platform Market, providing crucial insights for industry leaders aiming to capitalize on this rapidly evolving segment. The newly released reports- 'Market Share: Digital Banking Platform, 2024, Worldwide & Regional Report' and 'Market Forecast: Digital Banking Platform (AMR), 2025-2030, Worldwide & Regional Report' - reveal a projected market valuation of $15.77 billion by 2030, growing at a CAGR of 15.24% from 2025 to 2030. This analysis equips businesses with the strategic intelligence needed to navigate the dynamic Digital Banking landscape and make informed decisions as the market scales new heights. The Next Growth Frontier in Digital Banking Platform Digital Banking Platforms are redefining how financial institutions deliver services, engage customers, and scale innovation. These platforms provide the foundational infrastructure for banks and credit unions to offer omnichannel experiences, personalized financial insights, and real-time transactions across retail, corporate, and SME segments. As digital-native challengers gain traction and customer expectations evolve rapidly, traditional institutions are embracing cloud-native, API-first digital banking platforms to accelerate modernization, reduce operational friction, and drive continuous innovation. According to VVVD Akhilesh, Senior Analyst at QKS Group, "The evolution of Digital Banking Platforms marks a pivotal moment for the financial services industry. As customer behavior shifts toward hyper-personalized, real-time engagement, banks can no longer afford legacy inertia. The winners will be those who embrace composable architecture, AI-driven insights, and open ecosystem integration, not as future goals, but as immediate imperatives. The Digital Banking Platform is no longer just IT infrastructure; it is the bank's competitive core." Key Market Insights from QKS Group's Report Global and Regional Market Analysis: An in-depth examination of worldwide and regional digital banking adoption trends, competitive landscapes, and future growth projections. Competitive Benchmarking: A comparative analysis of top digital banking platform vendors, their market positioning, and strategic differentiators. Industry Adoption Trends: Insights into which sectors are investing most heavily in digital banking platform and why. Technology Disruption & AI's Role: AI, cloud-native architecture, and API orchestration are driving a fundamental shift in digital banking. Banks are leveraging AI to deliver predictive financial services, automate customer interactions, and enable real-time fraud detection. At the same time, microservices and low-code capabilities are empowering faster product rollouts, ecosystem partnerships, and hyper-scalable infrastructures. These innovations are not just optimizing operations, they're redefining what it means to be a digital-first bank. Market Leaders & Competitive Landscape The report covers key industry players, including Alkami Technology, Avaloq, Backbase, Bottomline Technologies, BPC, Coconet, Codebase Technologies, CR2, Data Action, Data Center Inc, Edgeverve, Finastra, Fisa Group, Fiserv, ieDigital, Intellect Design Arena, Mambu, Oracle, Sandstone Technology, Silverlake Axis, Sopra Banking Software, Tagit, TCS, Thought Machine, Ultradata, and Veritran. Why This Matters for AMR Vendors For CEOs, CMOs, and Chief Product Officers of digital banking solution providers, this is a critical inflection point. The demand for hyper-agile, secure, and intelligent digital banking experiences is not just growing, it's being expected. Vendors must go beyond feature parity and focus on delivering platforms that are cloud-native, integration-ready, and built for adaptability. Offering composable banking, real-time analytics, and regulatory agility will be key to capturing mindshare and wallet share in a fiercely competitive, rapidly evolving market. Get Access to Exclusive Market Insights (single report or subscription offering) Market Share: Digital Banking Platform, 2024, Worldwide Market Forecast: Digital Banking Platform (AMR), 2025-2030, Worldwidehttps:// The comprehensive research package includes: Most Comprehensive Market Forecast Analysis: A separate market forecast report for each of the regions, including North America, Asia Pacific, European Union, MEA, Latin America Unmatched Competitive Analysis: A separate market share report for each of the regions, including North America, Asia Pacific, European Union, MEA, Latin America QKS TrendsNXT on Digital Banking Platform Market QKS TAMSAM Insights report on Digital Banking Platform Market Exclusive Analyst Advisory Sessions for strategic decision making and validation About QKS Group QKS Group, formerly Quadrant Knowledge Solutions, is a leading global advisory and research firm, dedicated to empowering technology innovators to accelerate their growth journeys and enable technology adopters to achieve their digital transformation objectives. Click below to learn more about Competitive Intelligence Service: To gain access to the full market insights, growth forecasts, and competitive analysis, Connect: Shraddha Roy PR & Media RelationsQKS GroupRegus Business Center35 Village Road, Suite 100,Middleton Massachusetts 01949United StatesEmail: shraddha.r@ Source: with us on LinkedIn- Logo: View original content: SOURCE QKS Group
