ASX-listed Tasmanian bank MyState has overhauled its digital banking services, backed by Dutch banking tech developer Backbase’s composable banking platform.

MyState worked with Backbase to embed its flagship, out-of-the-box Engagement Banking Platform. The platform has promised to “simplify money management with an easier, more user-friendly, and secure platform for customers”.

Sitting on top of MyState’s core banking system, the modularised platform supports a number of personal digital banking capabilities, including personal finance management (PFM), real-time payments functions (including Pay ID and digital wallets), integrated threat and fraud protection, and a multi-channel limits/notifications capability.

The middleware also provides support for customer onboarding, loan origination, identity management and artificial intelligence systems.

Backbase notes on its website that the “industrialised platform serves as a stable, future-proof foundation for seamlessly orchestrating all your customer and employee interactions across any digital channel”.

The selection of Backbase comes after a controversial report released earlier this year which suggested MyState may have ditched its 2021 deal with Temenos – its existing core banking supplier – to deploy its own all-in-one banking services and customer experience platform Infinity. MyState was set to go live with the platform in 2022.

The AFR’s Rear Window column opined that while other banks caught up in the saga were less-than-satisfied with the Temenos offering, MyState did express some scepticism around the report.

Anand Venkatachalam, Director for Customer Success at Backbase Australia, said the bank has already delivered more than 250 production releases in the lead-up to the new platform’s launch.

“Ultimately, MyState Bank now has the machinery in place to continue innovation plans.”

He added: “Since our partnership began, we’ve fostered a collaborate-to-win, success-driven mindset and Backbase is eager to see this continue to flourish in the years to come.”

Iman Ghodosi, managing director for Backbase Australia and New Zealand, said 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”.

MyState joins Judo Bank, among 150 other financial services businesses worldwide, that have adopted Backbase’s Engagement Banking Platform.

MyState, which counts total assets of $9.2 billion, an $8 billion loan book, and more than 170,000 customers, recently announced plans to merge with fellow regional challenger bank Auswide.