- AI productivity gains are at the forefront as Backbase launches its innovative Intelligence Fabric, a game-changing solution for the banking sector.
- This AI-driven platform is designed to enhance productivity and streamline operations, providing banks with a significant technological edge.
- The Intelligence Fabric integrates cutting-edge AI capabilities, enabling banks to harness data, optimize workflows, and deliver superior customer experiences.
AI productivity gains have become the central focus of banks across the globe and Backbase’s latest announcement provides an answer to that problem. The company has launched its Intelligence Fabric, a revolutionary AI-based platform that seeks to change the ways of doing business in the banking sector or changing the way customers are served.
While working with Backbase, banks can integrate Artificial Intelligence into their digital banking infrastructure and thus achieve remarkable productivity improvements. The Intelligence Fabric uses a combination of data mining and machine intelligence to increase efficiency within operations by improving workflow, routine work, and decision-making. This enables banks not just to boost their performance but to reallocate their efforts from day-to-day operations to more innovation and customer relationships.
What is probably most appealing about the Intelligence Fabric is the ability to integrate AI into the bank’s daily processes without undergoing any complex organizational changes. Such incorporation enables the banks to harness the works of AI in ways that could have not been possible in the past, for example, using AI to anticipate and analyze market tendencies and customize customer services to particular people instead of generalizing.
Jouk Pleiter, Founder and CEO at Backbase, 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.”
“The adoption and evolution of these new-gen, super-powerful agents will dramatically reduce internal and external labor spend on overheads such as sales, marketing, customer service, and compliance operations.”
What differentiates this solution is its emphasis on flexibility and reinvention. The Intelligence Fabric is intended to be evolutive with the bank so that when they advance their needs, it will not be necessary to acquire other systems or tools to further enhance the AI capabilities. This is important given that financial institutions are currently dynamic in nature where innovation and speed are of utmost importance.
Also, Backbase’s Intelligence Fabric combats the serious challenge of siloed data within different banks. By allowing various names and operational systems to combine, the platform ensures that all banks work with one operational picture that is always up to date, as a result of which the decision-making process and the speed of execution are improved.
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Apart from rectifying internal workings, the Intelligent Fabric improves the customer journey. Personalization of products brings utility creation to the vocabulary of banks through the utilization of AI and machine learning, hence probability of waste interaction with the customer may be minimized.
The bigger players in the market turn to artificial intelligence in search of growth, reducing inefficiencies, and such. Backbase’s Intelligence Fabric is one such proposition today that not only promises insightful integrations but even, in the future, a combination of technology and human intuition that the advancement of AI-infused financial services would bring.
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