Vietnam-based Orient Commercial Joint Stock Bank has announced its partnership with Backbase in order to improve its banking modernisation development. Following this announcement, the Orient Commercial Joint Stock Bank aims to design a personalised digital banking system for each of its customers across all channels, by fully digitising every client’s journey and touchpoint in order to offer effective and secure tools within mobile apps and computer platforms.

OCB will incorporate in its suite of products the Engagement Banking Platform of Backbase, for the improvement of its retail banking solutions. By integrating the Engagement Banking Platform, OCB will also benefit from other factors, such as the six-month go-live timeline, the possibility to fully control the building, owning, and customising different upstream and downstream requirements, as well as local support for the incorporation and future project needs. The collaboration follows OCB’s initiative to adopt and build services that will align with its modern banking structure and its customer-centric approach.

The overall project implementation is set to be led by SmartOSC, Backbase’s partner. SmartOSC will assist the Orient Commercial Joint Stock Bank in its process of integrating the platform, while also addressing OCB’s initial localisation requirements and demands. SmartOSC will also develop the Mobile Banking, Internet Banking, and Employee App for the Orient Commercial Joint Stock Bank, offering its expertise and solutions for the product’s development process.

Backbase’s recent launches and collaborations Backbase had multiple partnerships and product launches in the last couple of months, covering different geographic areas around the world. Netherlands-based fintech engagement banking software Backbase acquired UK-based digital wealth platform Nucoro for an undisclosed amount in June 2023. Following this acquisition, Backbase was given the possibility to incorporate Nucoro’s headless platform offerings and capabilities directly into the Backbase Engagement Banking platform.

This was set to enable customers and users to launch digital end-to-end investment products, including robo-advisory, hybrid advisory, and trading services. Earlier in March 2023, HDFC Bank announced its decision to appoint Backbase in order to improve the manner in which it delivered its digital banking services in India. Throughout the deal, Backbase was set to offer its solutions and tools to HDFC Bank’s retail banking, which allowed for a more seamless and secure user experience across all digital touchpoints, in response to changing client expectations, preferences, and demands, as well as new regulatory requirements.

Backbase was HDFC Bank’s partner and customer since 2016, and in March 2023 the financial institutions renewed their agreement in line with its technical design principles of security, remaining cloud agnostic, as well as overall horizontal scalability. .