Australia’s MyState Bank taps Backbase for Engagement Banking platform
MyState Bank, headquartered in Hobart, Tasmania, has chosen Dutch digital banking solutions vendor Backbase to revamp its digital services.
MyState Bank to deploy Backbase platform
Through the new partnership, the bank is set to leverage Backbase’s Engagement Banking platform in an endeavour to “simplify money management with an easier, more user-friendly, and secure platform for customers”.
The platform will support a suite of digital banking features for MyState, including payments (such as Pay ID and digital wallets), personal finance management (PFM), and integrated threat and fraud protection, while consolidating loan origination, servicing, loyalty and customer onboarding functions.
The integration comes after the bank previously unified its core banking systems in 2017, when it replaced two systems with TCS Bancs from TCS Financial Solutions.
Iman Ghodosi, MD of Australia and New Zealand for Backbase Australia, states that MyState is now well-positioned to respond to the “rapidly evolving needs of banking customers in Tasmania and as well as targeting growth on the east coast of Australia as a challenger brand”.
With total assets of $6.3 billion (AUD 9.3 billion), MyState joins a growing list of global banks adopting Backbase’s flagship solution, which includes Malaysia’s Bank Muamalat, EverBank in the US, and the Australian challenger Judo Bank.
The vendor notably sought to drive the latest technological advancements for its Engagement Banking platform in June when it appointed Chris Shayan as head of AI.
