Backbase is excited to announce a major expansion of the Engagement Banking Platform with the introduction of the Intelligence Fabric layer, a powerful set of data and AI infrastructure and development capabilities that are now natively embedded in the platform. This groundbreaking launch is set to redefine how banks can harness the power of data and AI to unlock significant productivity gains within their business-critical customer servicing and sales operations.
Introducing Agentic AI for banking
With the new Intelligence Fabric, Backbase will enable banks to implement Agentic AI capabilities that unlock massive productivity gains across all their critical service and sales operations. Using advanced reasoning and grounded in cross‑bank data through the Backbase platform, banks can now create AI Agents that augment and orchestrate customer journeys in tandem with underlying workflows, integrations, and real-time data interpretation.
Gartner predicts that by 2028, one third of interactions with GenAI services will invoke action models and autonomous agents for task completion. With unified, real-time access to bank-wide data, knowledge, tools, and workflows on the Engagement Banking Platform, Backbase AI Agents can understand and interpret contextual information to provide personalised responses. They can also execute action plans, from handling small tasks like transaction search or bill payment scheduling to managing entire processes such as customer onboarding. Ultimately, these AI Agents have the potential to reinvent customer journeys and workflows across the bank. Built-in guardrails will provide robust oversight, allowing banks to implement strict levels of compliance and governance.
Jouk Pleiter, Founder and CEO at Backbase, said: “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 labour spend on overheads such as sales, marketing, customer service and compliance operations.”
AI-driven customer engagement orchestration
Backbase is prioritizing the availability of AI-Agent capabilities for the following use cases:
- Conversational banking: Leverage large language models (LLMs) to handle daily banking tasks like accessing accounts, making payments, checking transaction histories, and managing cards across digital channels.
- Customer lifetime orchestration: Create AI-driven product activation and up-sell campaigns that enable the bank to increase the product holding per customer. AI-driven predictive nudges will provide contextual guidance to customers, promoting relevant new products such as credit cards, loans, savings, investing, and insurance, all based on customer behavior and financial history.
- Advanced financial insights: Harness AI and machine learning models to analyze customer data and behavior, providing actionable insights such as early warning indicators for retail customers, cash-flow forecasting for SMBs, and customer health and viability information for relationship managers.
- AI-augmented customer support: Deploys cutting-edge Generative AI models to power customer-facing chatbots that provide safe, accurate, and instant responses, drastically reducing support ticket volume. On the agent side, deploy AI capabilities that analyze customer sentiment, summarize issues, and suggest reply options, equipping support teams with the insights they need to craft personalized, effective responses and enhance the overall service experience.