Danske Bank has teamed up with BackBase, signing a deal that aims to improve customer experiences across Danske Bank’s online services.

Enhanced Digital Experiences

Under the terms of the agreement, BackBase's Engagement Banking Platform (EBP) will be leveraged to help Nordic bank Danske Bank offer seamless, personalized experiences for the bank's customers.

Frans Woelders, Chief Operating Officer at Danske Bank, says, “This engagement is testament to our customer focus and our commitment to ensuring the best digital banking experience for the future. A new platform that works across the web, mobile apps and our adviser tools is one of the ambitions in Danske Bank’s Forward ’28 strategy, and the agreement with Backbase is the next step towards achieving that ambition.”

BackBase’s Fintech Expertise

Fintech BackBase will be providing Danske Bank with its EBP that aims to help financial institutions accelerate their digital transformation through the creation of seamless, exceptional user journeys.

This move is in line with Danske Bank's Forward '28 strategy, setting ambitious goals to fortify its standing as a leading bank in the Nordic region. The plan involves hefty investments and efforts towards strengthening customer offerings, and stepping up the bank’s digital game.

Increased Personalization

Christian Bornfeld, Head of Personal Customers and Financial Crime Risk & Prevention, said, “This platform will allow us to take our interaction with customers though our digital solutions to the next level and to introduce enhancements at greater speed than ever before. It will thus enable us to provide market-leading convenience and personalization for our customers with great insights, increased proactivity and easy access to assistance and advice.”

Significant Investments

Alongside this digital expansion, Danske Bank also announced a significant boost in its annual investments. As of June 7, 2023, Danske is doubling down on its commitment to core capabilities within digital platforms, expert advisory services, and sustainability.

Danske Bank isn’t the only finance house embarking on a digital journey as banks increasingly focus on online. One potential downside to increasing focus on online is the gradual shrinking of physical bank branches, as is the case with Wells Fargo.

However, the key takeaway is that digital banking and payments are the future and this is going to continue to evolve in 2024.