Breaking the chains: the battle of traditional banks in the age of modernization

Years of technological evolution have burdened traditional banks with outdated, cumbersome systems that struggle to meet the rapid pace of customer and market demands. However, an exciting revolution is emerging. Join Jouk Pleiter, CEO & Co-Founder of Backbase, as he sits down with Arjun Vir Singh on the Couchonomics podcast to explore how banks can liberate themselves from legacy constraints and embrace a future of agility and innovation.

Podcast highlights

• Challenges of Legacy Systems- Jouk articulates the struggles banks face with outdated systems, emphasising the necessity for a strategic overhaul to enhance agility and responsiveness to market changes.

• Advantages of Industrialized Platforms - He discusses how platforms like Backbase empower banks to innovate more dynamically, integrating cutting-edge technologies like AI and machine learning to transform customer interactions.

• Strategic banking modernization - Jouk shares insights on the progressive modernization approach, which allows banks to upgrade their systems incrementally, focusing on high-impact areas to optimise customer journeys without overwhelming operational disruptions.

• Future of Banking- The discussion also covers the future trajectory of banking platforms, highlighting the shift towards more open, agile, and customer-centric systems that support a wide array of banking functions.

• Backbase’s unique approach - The podcast touches on how Backbase differentiates itself in the fintech space by offering comprehensive solutions that address the core challenges of modern banking, from customer experience to back-end processing.