Navigating the future of banking: key takeaways from Backbase ENGAGE Americas

ENGAGE kicked things off with a bang, focusing on the industry's major move from traditional banking to something entirely new: Engagement Banking. Backbase's leaders unveiled their next-generation Engagement Banking Platform, making it clear that modernization and a laser focus on the customer will be the cornerstones of the future banking landscape. This shift underscores the need for banks to adapt to technology and prioritize creating amazing customer experiences at every touchpoint.

A session that truly stood out featured Kathy Ward from NFCU. She walked us through their step-by-step modernization journey with Backbase, highlighting the transformative power of incremental improvements and customer-centric platforms. Ward's story is a perfect example of how these elements are reshaping financial services. NFCU's experience serves as an inspiring blueprint for other institutions looking to embark on a similar path.

Another highlight was Everbank's story of reinvention following their spin-off from TIAA. Their strategic partnership with West Monroe and Backbase is paving the way for completely new ways for clients to interact with their bank. Everbank's approach is a powerful reminder of why strategic alliances and a forward-thinking mindset are crucial for staying ahead of the curve in today's ever-changing financial world.

ENGAGE wasn't all high-level talks. There were also a series of tech sessions that tackled critical topics like rethinking how we integrate systems, building super-automated infrastructures for Banking-as-a-Service (BaaS), and re-architecting the Engagement Banking platforms of tomorrow. These sessions gave attendees practical tips on how to leverage technology to streamline operations and keep their customers happy.

Backbase's experts offered a range of valuable insights tailored to the specific needs of different banking sectors. Rachael Lord explored ways to unlock value in retail banking and enhance customer experiences. Bakhtier Pulatov discussed the future of business banking, focusing on the impact of a composable platform fabric. Lennart Asshoff then shifted the conversation to wealth management, emphasizing the changing landscape and the critical role of Engagement Banking in staying competitive. These insights collectively highlighted the diverse needs across the industry and the importance of having solutions that can adapt to them.

The session on "Unlocking Platform Innovation for Successful Digital Transformation" offered a deep dive into how SSB is leveraging Backbase's Managed Services Innovation to achieve rapid growth while staying compliant with regulations. This case study perfectly illustrated the clear link between adopting the right technology and achieving successful digital transformation. It offered valuable lessons for institutions on a similar journey.

A panel discussion with credit union leaders explored the latest market trends, focusing on how to leverage digital technology for long-term growth and member engagement. The insights shared provided a roadmap for credit unions to navigate the digital age and thrive. The key takeaway? Embracing technology and innovation is essential for success.

The event wrapped up with a powerful keynote from C.J. and Kelli Stewart, who focused on "Leadership through Financial Wellness." They highlighted the impactful work of the L.E.A.D. Center For Youth, showcasing how leadership, mentorship, and financial wellness can empower young people to achieve financial independence and give back to their communities.

Backbase ENGAGE Americas wasn't just another industry conference. It was a meeting place for ideas and strategies that have the potential to reshape the future of banking. The shared experiences and insights underscored the importance of embracing change, fostering innovation, and prioritizing a customer-centric approach. As we move forward, the lessons learned at ENGAGE Americas will undoubtedly serve as a guiding light for banking leaders and tech experts who are striving for excellence in a rapidly evolving landscape.

Relive all the best moments from ENGAGE 2024, from Jouk Pleiter’s energizing opening keynote to our American Banking Leaders panel discussions. Simply click the link below to access all the recordings and session highlights.