Engagement banking platform provider Backbase has teamed up with Microsoft to aid financial entities get into engagement banking mode with an integrated financial services cloud stack.

Through this partnership, Backbase’s platform seeks to help clients transform banking and speed up their digital transformation.

Backbase CEO Jouk Pleiter said: “Digital transformation is challenging, requiring institutions to simultaneously modernize a multitude of complex business systems as well as their infrastructure.

“Together with Microsoft, we can deliver so much more value in less time, enabling organizations to quickly adopt solutions specifically built for their industry.”

“You can now use modular solutions with built-in industry standards that augment your organisation’s current investments and are extensible as business needs evolve and grow.”

“Together we break down data silos, helping organizations take a data-first approach with a common data model that unifies information while adhering to industry compliance standards.”

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Backbase claimed that the total value proposition of its Engagement Banking Platform on Microsoft Cloud for Financial Services provides a whole stack of pre-integrated capabilities to tackle critical requirements of banks that allows them to effectively make their digital transformation.

Backbase Engagement Banking Platform is claimed to bring the customer-facing aspect, by breaking down channel silos, and providing one orchestration hub to streamline a customer journey across each digital touchpoint.

With regard to employee productivity side, Microsoft brings its business applications such as Microsoft Dynamics 365, etc., to provide an interoperability that is seamless with the Backbase Engagement Banking Platform.

When it comes to the banking processing side, the Backbase Marketplace is claimed to offer connectors to key banking providers and fintech fulfillment partners.

Microsoft provides cloud computing capabilities with its Azure cloud computing platform, with Backbase’s Engagement Banking Platform leveraging its capabilities.

Microsoft corporate vice president of worldwide financial services Bill Borden said: “With the combined power of Microsoft Cloud for Financial Services and Backbase’s Engagement Banking capabilities, banks and credit unions can now more rapidly modernize their technology stack and move to a cloud-based operating model that is truly customer-centric.”

Microsoft rolled out Microsoft Cloud for Financial Services last month.