Digital banking software platform Backbase has confirmed the launch of its ‘next generation’ customer onboarding solution across its retail, SME/business, corporate banking and wealth management divisions.
The turn-key solution will allow financial institutions to optimise their customers’ buying experience, as well as offering the option to fully digitise the onboarding process and ‘product origination’ elements.
Jouk Pleiter, CEO of Backbase commented: “We have been piloting this next-generation solution over the past 12 months with various customers around the world. We are extremely pleased with the results. It’s incredibly fast to implement, extremely versatile in the way it integrates and complements existing systems, and it brings a very sound ROI for our customers.
“Aside from the established ROI advantages, this new solution helps banks and credit unions orchestrate their full customer lifecycle – from onboarding and product origination, to customer support and regular customer background / compliancy checks. Additionally, our recently launched Backbase-as-a-Service enables banks to consume all the new Onboarding and Origination capabilities directly from the cloud.
“It’s all part of the larger Backbase Platform vision that enables banks to break free from legacy applications and take full control of their digital future”.
In its product notes, Backbase states that by using its new onboarding solution, customers will be able to reduce onboarding times by 80%, as well as further reducing operational costs by more than 30% and go-to-market 18 times faster.
Financial institutions will be able to buy and build their solutions either by adopting out-of-the-box banking apps or using the platform to develop their own unique customized capabilities. The new Backbase Onboarding & Origination Solution is globally available as of today.
