Mastercard, Backbase team up to accelerate AI-native banking
What's happening
Mastercard and Backbase have formed a partnership to embed Mastercard's AI, data insights and ecosystem capabilities into Backbase's AI-native Banking Operating System. Banks using Backbase will get access to Mastercard tools for personalisation, analytics, customer engagement and cyber resilience, and this builds on an earlier integration in June where Backbase added Mastercard Move. The collaboration is positioned to help financial institutions move AI initiatives from experimentation into production and strengthen decision-making and digital transformation efforts.
Why it's trending
Banks are under pressure to turn AI pilots into live capabilities that improve personalization, analytics and cyber resilience, so vendor tie-ups that package AI tools into core banking platforms are picking up pace now.
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If your bank runs Backbase, Mastercard's AI and analytics tools are now just a toggle away, here is what that actually gives you today and why it matters for customers and ops.
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Original sources4
- Backbase Adds Mastercard’s AI Tools to Its Banking OS
Mastercard and Backbase are collaborating to bring Mastercard’s AI, data insights and ecosystem capabilities into the Backbase AI-native Banking Operating System, giving banks access to tools for personalisation, analytics, customer engagement and cyber resilience. The deal marks the companies’ second collaboration this year. In June, Backbase integrated Mastercard Move into its Bankin
Fintech News SingaporeSep 9 - Mastercard, Backbase team up to accelerate AI-native banking
Mastercard, the global payments and technology company, and Backbase, the provider of an AI-native Banking Operating System, have partnered to help financial institutions move AI initiatives beyond experimentation and into production. The collaboration will give banks using Backbase’s platform access to Mastercard capabilities spanning personalisation, analytics, customer engagement and cybe
FinTech GlobalSep 9 - Backbase embeds Mastercard toolkit into Bank OS
Mastercard and Backbase are collaborating to help financial institutions strengthen customer engagement, enhance decision-making and advance their digital transformation ambitions through a combination of data insights, cybersecurity and banking technology capabilities.
Finextra PaymentsSep 9 - Why did Mastercard spend $3.2B on Nets in 2019 just to try and sell it off now?
Recently I bought some MA stock. And I actually mostly did it because I thought the network effects of Visa and Mastercard would be insurmountable moats for the rest of my lifetime at least. But then I fell over stories like PIX in Brazil and UPI in India and started wondering, whether these technologies and rails may end up disrupting the ecosystem for Mastercard. So… since buying a bit of Master
r/paymentsSep 6
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