Backbase Unveils AI-Powered Intelligence Fabric to Transform Banking Operations

Backbase, a global leader in engagement banking software, has announced a significant enhancement to its Engagement Banking Platform with the launch of the Intelligence Fabric. This new addition is designed to help banks fully utilize the potential of artificial intelligence (AI) and data to improve customer service and operational efficiency, according to FF News.

The Intelligence Fabric represents a strategic move by Backbase to address the growing need for banks to provide personalized, responsive, and efficient services in an AI-driven world. It equips banks with the tools to stay competitive by leveraging AI to unlock productivity gains in key areas, such as sales and service operations.

Backbase, long known for its innovative banking solutions, has developed a platform that integrates data from core banking systems and payment gateways to create a seamless, customer-first digital banking experience. With the launch of the Intelligence Fabric, the company is placing AI at the core of banking operations.

The Intelligence Fabric enables the implementation of Agentic AI, allowing banks to deploy AI agents that can manage various tasks, from simple account inquiries to more complex processes like customer onboarding. These AI agents can access real-time, bank-wide data and deliver highly personalized and contextual responses, streamlining customer journeys.

Powered by Backbase’s Grand Central integration platform, the Intelligence Fabric consolidates data from fintech and non-fintech sources into a single platform, providing banks with a unified source of truth. This allows AI agents to draw insights from vast datasets, automating processes that enhance both operational efficiency and customer satisfaction.

Among the key features of the Intelligence Fabric are AI-powered conversational banking, customer lifetime orchestration, and advanced financial insights. These capabilities enable banks to engage customers through AI-driven product recommendations, predictive analytics, and AI-augmented customer support. Additionally, the platform ensures compliance and governance in the use of AI through embedded guardrails.

Backbase is focusing its AI efforts on customer support automation and predictive analytics, incorporating advanced capabilities like large language models for conversational banking and AI-powered insights for both retail and SME banking.

Backbase CEO Jouk Pleiter commented, “Backbase is leading the way with its AI platform capabilities for banking. The introduction of the Intelligence Fabric marks a pivotal moment in our mission to empower banks to harness the power of data and AI at scale. Today, we are making a massive leap forward in unveiling our Agentic AI strategy. We see a future where AI agents will work autonomously in the background, handling tasks, managing processes, and collaborating with customers and employees.”

Backbase CTO Thomas Fuss added, “Our Intelligence Fabric is a game-changer for the banking industry. With native AI capabilities embedded directly inside the Backbase platform, we now provide banks with the infrastructure and developer tooling to seamlessly combine data from various sources, create event-driven systems, and adopt or build AI agents for specific tasks.”

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