Backbase, a global leader in engagement banking software, has announced a major expansion of its Engagement Banking Platform with the launch of the Intelligence Fabric.
The Intelligence Fabric marks a strategic move by Backbase to help banks harness the full potential of data and AI, according to FF News.
As AI continues to reshape the financial services landscape, banks face increasing pressure to deliver personalised, efficient, and responsive services. The new product aims to provide banks with the AI tools necessary to stay competitive and unlock massive productivity gains in their critical sales and service operations.
Backbase has long been recognised for its innovative banking solutions. The company offers an Engagement Banking Platform that enables banks to deliver personalised customer experiences across all channels.
Its platform integrates data from various sources, such as core banking systems and payment gateways, creating a seamless, customer-first digital banking environment.
With the introduction of the Intelligence Fabric, Backbase is bringing AI to the forefront of banking operations.
This new layer allows banks to implement Agentic AI, creating AI agents capable of augmenting and orchestrating customer journeys.
These agents can execute tasks ranging from simple account searches to managing complex workflows such as customer onboarding.
The platform provides real-time access to bank-wide data and allows AI agents to deliver highly contextual and personalised responses.
The Intelligence Fabric is powered by Backbase’s Grand Central integration platform, which unifies data from fintech and non-fintech sources. It provides a single source of truth for banks, enabling seamless access to bank-wide data. This allows AI agents to draw insights from vast datasets and automate processes that drive 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 insights, and AI-augmented customer support. The platform also embeds guardrails to ensure compliance and governance in the use of AI.
Backbase is also prioritising AI use cases such as customer support automation and predictive analytics. The AI capabilities include large language models for conversational banking, predictive customer engagement, and AI-powered insights for both retail and SME banking.
Backbase CEO Jouk Pleiter said, “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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