Judo Bank chose Backbase’s Engagement Banking Platform (EBP) to create new digital experiences for its small and medium (SME) business banking and term deposit customers.
The adoption of Backbase’s EBP is expected to enable Judo’s relationship bankers to dedicate more time to customers.
The platform will also allow for monthly releases of additional features going forward. Judo’s purpose-built, modern, cloud-based, flexible technology stack uses adoptive technology principles.
Judo was looking for a global leading, digital platform capability that embraced both strong design and security principles, with the customer at the core. Backbase was selected after a comprehensive search with the build commencing in 2022.
Judo Bank is Australia’s first purpose-built challenger bank, uniquely focused on SMEs and, in November 2021, was the first commercial bank to list on the Australian Stock Exchange in 30 years.
Relationship Banking is the core of Judo’s strategy. Technology at Judo is designed and built to enable banker and customer relationships.
This differentiated, human-centered approach has seen Judo’s growth since inception reach a lending book of over $9 billion and a deposit book over $6 billion with over 35,000 customers.
“Through our partnership with Backbase, we have enhanced our high-tech, high-touch model, further empowering SME business owners with digital experiences related to their Judo portfolio,” said Lisa Frazier, Judo Bank’s COO.
“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,” said Frazier.
She added that partnering with Backbase enables them to deliver a better digital experience to their customer base cost effectively with the build of the platform taking just on a year.”
Iman Ghodosi, Backbase managing director for Australia and New Zealand,, said, the power of the Backbase EBP lies in its ability to provide the composable fabric, modularity, and options to banks, freeing them from the burden of building everything themselves.