Leading engagement banking platform provider Backbase announces today that it has partnered with Zafin, the global leader in SaaS cloud-native product and pricing solutions for banks, to integrate Zafin’s relationship-based product and pricing capabilities into its Engagement Banking platform.
Through this partnership, Backbase clients can now leverage Zafin to instantaneously deploy products and offers with pricing optimized to each individual customer. This people-first approach is aimed at increasing adoption of new products and services, while growing lifetime customer loyalty. Further, the collaboration enhances banks’ ability to provide highly personal, tailored products, allowing them to increase their share of wallet among both retail and business banking customers.
In the face of increasing competition, banks need to accelerate speed of innovation and market agility to deliver highly personalized offerings and cross-channel banking experiences. The Backbase-Zafin partnership helps banks move beyond current technological constraints, the traditional model wherein a single core provider delivers an all-in-one solution, allowing them to innovate and execute, delivering the products, services and experiences customers expect.
Access to Zafin complements Backbase’s already extensive offering of comprehensive digital technology capabilities. This announcement underscores both organizations’ commitment to offering banks turn-key, configuration-based solutions that help them deliver innovations to the market more quickly while continuously enhancing customer stickiness.
Jouk Pleiter, CEO at Backbase, comments: “Backbase’s Engagement Banking platform unburdens financial institutions by packaging all the best fintechs and capabilities in a single platform. With it, institutions can access the latest, greatest and most innovative technologies without needing to manage multiple vendors. This new partnership with Zafin offers our clients yet another way to build hyper-personalized experiences for customers while helping to break away from the legacy systems that have historically slowed the pace of innovation, and we’re excited to see our customers benefit.”
Al Karim Somji, founder and CEO of Zafin, adds: “We’re thrilled to join forces with Backbase to offer even more financial institutions access to our powerful, enterprise product catalog and relationship-based pricing capabilities. Banks of all sizes are locked in increasingly fierce competition for customers, and the Backbase-Zafin partnership offers institutions a leg up over those mired in outdated technology and processes. Through us, they can deliver deeply personalized experiences to their customers and respond quickly to evolving market needs – a key differentiator in this crowded space.”
The partnership’s conjoined solution is globally available immediately, is pre-integrated, cloud-ready, and turnkey.