The new partnership provides financial institutions instant access to relationship-based product and pricing technology, enhancing both loyalty and share of wallet.
Amsterdam, February 25, 2021: 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.
About Zafin:
Zafin, the global leader in SaaS cloud-native product and pricing solutions, is a trusted partner to the world’s most customer-centric financial institutions. Zafin’s product and pricing platform empowers banks of all sizes to center their customers, grow relationships and drive revenues.
The Zafin platform separates product and pricing from core processing to accelerate progressive modernization, enable digital transformation and deliver personalization at the relationship level.
A typical Zafin installation integrates easily with most back-end systems and customer-facing channels to increase product and pricing efficiency and agility, drive interest and non-interest income, and deliver a positive ROI—often in one year or less. www.Zafin.com
About Backbase:
Backbase is on a mission to transform the broken banking system, so financial institutions don’t just interact — they engage — with the people they serve.
That’s made possible with the Backbase Engagement Banking Platform — powering all lines of business on a single platform, including Retail, SME & Corporate and Wealth Management. From digital sales to everyday banking, the platform’s entire design focuses on a seamless and captivating experience for both customers and employees.
Industry analysts Forrester, Ovum and Celent continuously recognize Backbase’s front-runner position, and over 120 large financials around the world are powered by the Backbase Engagement Banking Platform—including AIB, Barclays, Banamex, Bank of the Philippines, BNP Paribas, Bremer Bank, Islands, Citibank, Citizens Bank, CheBanca!, Discovery Bank, Greater Bank, HDFC, IDFC First, KeyBank, Lloyds Banking Group, Navy Federal Credit Union, PostFinance, RBC, Société Générale, TPBank, Vantage Bank Texas, Westpac, and Wildfire Credit Union. www.backbase.com
Media Contacts:
Laurel Mengers
Uproar PR for Zafin
+1 (321) 236.0102 x234
Meghan Warren
Aspectus Group for Backbase
+1 (347) 766-4589
