First Bank Elevates Customer Experience with Backbase Engagement Banking Platform

First Bank, a well-established family-owned bank based in St. Louis, has taken a significant leap in enhancing its customer experience by implementing the Backbase Engagement Banking Platform, according to The Fintech Times. This strategic move aims to benefit both retail and business banking customers.

The decision to partner with Backbase stems from First Bank’s desire to seamlessly integrate its various technology solutions, including fraud management and payments, while also facilitating the incorporation of new banking technologies.

First Bank has always prided itself on providing comprehensive banking services, covering retail, business, wealth management, and lending. With the adoption of Backbase, the bank has transitioned to a unified platform, enabling clients to access all their banking needs in one place, simplifying the process with a single log-in.

Bala Nibhanupudi, the EVP and Chief Technology and Operations Officer at First Bank, expressed their excitement about this digital transformation milestone, saying, «This is the final step in our years-long digital transformation journey. After re-architecting our entire digital ecosystem, including physical infrastructure, a core replacement, moving to the Microsoft Azure cloud, a middleware upgrade, and a CRM upgrade, we’re confidently delivering a customer-first banking experience. Right now with Backbase, the sky’s the limit on what we can do and offer.»

The integration process involves the Backbase Engagement Platform, which seamlessly integrates with third-party applications and provides the flexibility to customize customer journeys. This empowers First Bank to have better control over the pace of innovation. Currently, the platform has successfully integrated 13 different systems, with plans for additional integrations to expand the array of customer offerings. First Bank’s in-house developers will rely on Backbase’s managed hosting services for hosting, continuous updates, and upgrades.

Sam Boggs, Executive VP for Backbase mid-market, emphasized their commitment to helping customers move beyond legacy systems, stating, «At Backbase, we’re focused on providing our customers with the capabilities to go beyond their legacy systems and point solutions, and in doing so, allow them to bring new products to market faster than ever, speeding the timeline between business decisions and launch. Ultimately, it is about achieving their mission. First Bank is the perfect example of that type of transformational financial institution.»

This transformation now allows First Bank to guide consumer clients starting businesses through their entire journey from a centralized point. Furthermore, the bank’s digital-first strategy opens the door to expanding its customer base nationwide, even in regions where it lacks a physical presence.

First Bank’s partnership with Backbase and its adoption of the Engagement Banking Platform mark a pivotal moment in their commitment to delivering an exceptional customer-centric banking experience. This strategic move positions First Bank to harness the power of digital transformation and expand its reach to customers across the nation.