Solving the integration puzzle to reduce banking IT costs

Let’s face it: modern banking ecosystems can feel a lot like the city of Babel. Every system speaks a different language, APIs don’t align, and connecting the dots between platforms feels like open-heart surgery. This complexity eats up resources and stifles innovation, leaving banks stuck in maintenance mode instead of driving value for their customers.

At Backbase ENGAGE Europe, I shared how we’re solving the integration puzzle with Grand Central, our Integration Platform-as-a-Service (IPaaS), and an expanding portfolio of pre-built connectors. Our approach ensures seamless data connectivity, allowing banks to unify siloed systems and focus on what truly matters: creating personalized, delightful customer journeys and empowering employees with streamlined tools.

Integration challenges are the single biggest impediment to modernization. According to Gartner, 60% of IT budgets are consumed by integration costs, leaving little room for innovation. At Backbase, we’re flipping the script with Grand Central.

Imagine an integration engine that acts as a real-time translator for all your systems, enabling them to communicate effortlessly. Grand Central provides a unified API layer based on BIAN standards and is fully API-ready, eliminating vendor lock-in. This clean architecture allows banks to:

• Connect instantly: Use pre-built connectors for core banking, payments, CRMs, and more.

• Scale seamlessly: Add or update connectors with minimal effort, reducing downtime.

• Stay open by design: Facilitate custom integrations while ensuring flexibility for future growth.

By enabling this level of agility, banks can avoid bloated architectures and focus resources on value creation, not plumbing.

The power of integration isn’t just operational — it’s transformational. With Grand Central, banks can deliver end-to-end customer journeys that are:

• Frictionless: Integrate identity verification, AML/KYC checks, and onboarding flows for a smooth user experience.

• Hyper-personalized: Leverage unified data layers to power AI-driven insights, enabling tailored offerings like pre-approved loans or investment recommendations.

• Secure yet seamless: Collaborate with partners like Onfido and Feedzai to ensure fraud detection and secure authentication without compromising UX.

For example, consider a business onboarding journey, with Grand Central, you can connect multiple systems — identity verification, credit checks, AML/KYC tools — into a single, cohesive flow. Customers enjoy faster onboarding, and your team saves time, effort, and costs.

In addition to simplifying internal systems, Grand Central unlocks the power of external partnerships. Banks no longer need to wade through the complexities of selecting, validating, and integrating fintech solutions. With Backbase’s Marketplace and integration-ready partnerships, you can:

• Plug and play: Add partners like DocuSign for e-signatures or MidDesk for business onboarding in minutes.

• Share costs: Spread integration costs across multiple clients for more affordable implementations.

• Stay future-ready: Easily update partnerships with new features and functionalities.

By democratizing integrations, we’re empowering banks to tap into a global ecosystem of innovation without the usual headaches.

Grand Central is just one piece of Backbase’s Engagement Banking Platform. Together with our composable architecture, you can transform your bank into a modern, agile organization that excels across every customer touchpoint.

From seamless integrations to unified data connectivity, Backbase provides the tools you need to thrive in a competitive market. With Grand Central, your bank can finally break free from the spiderweb of legacy systems, delivering scalable, personalized solutions for every customer segment.

Ready to turn your integration headaches into opportunities? Let’s build the future together.