Judo taps Backbase to enhance digital CX

Judo Bank backbase customer experience integration technology

Judo Bank has gone live with Backbase’s Engagement Banking Platform (EBP), with the new platform promising to deliver monthly iterative updates and new features for the SME-specialist bank.

Through the new platform, Judo said it aims to “create new digital experiences” for its business banking and term deposit customers.

A ‘modularised’ and ‘composable’ solution which plugs directly into existing core banking systems, Backbase’s all-in-one EBP platform supports customer onboarding, servicing, loyalty schemes, and loan origination.

The platform, according to Backbase, neatly aligns with Judo’s “purpose-built, modern, cloud-based, flexible technology stack [which] uses adaptive technology principles”.

In a tacit acknowledgement of Judo’s still strong physical banking presence, Backbase said the new platform will enable the bank’s relationship managers to “dedicate more time to customers”.

Judo itself notes that ‘relationship banking’ is “core” to its strategy, with any technology adopted by the bank “designed and built to enable banker and customer relationships”.

Backbase was selected by Judo after “a comprehensive search”, with the EBP integration commencing back in 2022.

“Judo,” the fintech developer said, “was looking for a global leading, digital platform capability that embraced both strong design and security principles, with the customer at the core.”

Lisa Frazier, Judo’s chief operating officer said the partnership with Backbase has enabled the bank to enhance its “high-tech, high-touch model, further empowering SME business owners with digital experiences related to their Judo portfolio”.

“Our new digital experience will help our SME customers and bankers stay on top of business needs and support the exceptional service they receive from our relationship-led bankers.

She added: “Partnering with Backbase enables us to deliver a superior digital experience to our customer base cost effectively with the build of the platform taking just on a year”.

Judo touts itself as Australia’s first purpose-built challenger bank, uniquely focused on SMEs.

The Melbourne-based bank was founded in 2016. On 1 November 2021, it became the first commercial bank to list on the Australian Stock Exchange (ASX) in 30 years.

The bank currently boasts a lending book of over $9 billion and a deposit book of over $6 billion, with more than 35,000 customers.

“Our vision is to become a world-class SME bank,” Frazier said. “Our unique, relationship-led operating model creates a sustainable and competitive advantage for our business.”