Intelligence Fabric Layer Introduced by Backbase to Make Integrating AI Into Banks Easy | Kisaco Research

Intelligence Fabric Layer Introduced by Backbase to Make Integrating AI Into Banks Easy

Artificial intelligence (AI) can help accelerate banks’ productivity however it can be challenging to integrate. Looking to make this process more seamless, Backbase, the engagement banking platform, has introduced its Intelligence Fabric layer.

By Priya Khosla     October 8, 2024

Source: The FinTech Times

Intelligence Fabric will allow banks to embed a powerful set of data and AI infrastructure and development into their platforms. Backbase will enable banks to implement Agentic AI capabilities that unlock massive productivity gains across all their critical service and sales operations. Banks using the Backbase platform will be able to create AI Agents that augment and orchestrate customer journeys in tandem with underlying workflows, integrations, and real-time data interpretation.

The Intelligence Fabric leverages Backbase’s Grand Central — its Integration Platform-as-a-Service for banking — which unifies data from diverse sources. This includes core banking systems, payment gateways, fintech capabilities, and non-fintech systems like CRMs. This integration platform provides a single source of truth for banks, consolidating data from all these sources. Additionally, this enhancement allows for democratised data, making it accessible to not only Backbase, but also banks, their partners, and vendors.

Jouk Pleiter, founder and CEO at Backbase commented: “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. Additionally, the adoption and evolution of these new-gen, super-powerful agents will dramatically reduce internal and external labour spend on overheads. For example, spend on sales, marketing, customer service, and compliance operations.”

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