Prove and Backbase, an AI-powered banking platform provider, have formed a strategic partnership to improve how financial institutions in the US onboard new customers.
The partnership aims to address two pressing challenges in digital banking: preventing fraud and reducing friction in onboarding. By embedding Prove’s Pre-Fill® solution into Backbase’s AI-powered Banking Platform, banks and credit unions can deliver a faster and more secure experience to customers opening accounts or applying for loans.
Prove specialises in digital identity solutions that use advanced verification methods to enhance security and streamline customer interactions. Its Pre-Fill solution leverages a customer’s mobile phone number to instantly populate verified details such as Social Security number, name, address, and date of birth. This removes the need for manual form entry, reducing errors and abandonment rates while making the onboarding process more seamless.
Backbase, positioned as the world’s first AI-powered banking platform, provides technology that helps banks and credit unions modernise customer engagement. Its platform enables financial institutions to integrate cutting-edge tools, like Prove’s Pre-Fill, to improve operational efficiency and create more intuitive user journeys.
The collaboration will also help strengthen fraud defences from the outset of customer interaction. Prove’s technology verifies details in real-time using its Identity Graph, a dynamic system of connected devices, credentials and identifiers. This ensures legitimate customers pass smoothly through onboarding, while bad actors are filtered out, lowering fraud risk.
According to the companies, the integrated solution is already available across the US via Backbase’s platform, with the first use cases centred on account opening and digital onboarding. Additional applications are expected to follow as the collaboration evolves.
Backbase VP of marketplace Mayank Somaiya said, “By integrating Prove’s cutting-edge Pre-Fill technology, we’re helping banks and credit unions deliver faster and more intuitive onboarding while maintaining the highest levels of security. This partnership confirms our commitment to delivering innovation that solves real problems for financial institutions and their customers.”
Prove SVP of channel & partnerships Scott Greenhut said, “We’re thrilled to partner with Backbase to help institutions accelerate digital transformation while protecting their customers. Prove eliminates one of the biggest pain points in digital onboarding, while adding a layer of trust and security from the first interaction.”
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