Escaping the legacy trap: how to modernize your bank’s engagement layer

Episode 23 of Banking Reinvented takes a deep dive into the concept of engagement banking and how it can help financial institutions escape the “legacy trap” posed by outdated systems.In this episode, host Tim Rutten is joined by Backbase CEO Jouk Pleiter to explore the inefficiencies in traditional banking. In particular, they emphasize the importance of modernizing the engagement layer, which drives value through improved sales and servicing channels.Tune in to discover how banks can break free from their legacy systems and transform customer journeys to compete with digital-native challengers.Curious to find out more about customer-centric banking?Follow us on LinkedIn:-> Backbase-> Jouk Pleiter-> Tim RuttenStep into the future of finance -> Check out our content hub(00:00) - Welcome to the ‘Banking Reinvented’ podcast(00:56) - NEO’s innovative launch in Saudi Arabia(02:09) - Engagement banking and overcoming the legacy trap(05:36) - The three-layer architecture: system of record, integration, engagement(10:16) - Why modernizing the engagement layer delivers the highest ROI(14:54) - The role of AI and human assist in enhancing customer journeys(18:47) - Platform economics and competition with digital-native challengers(20:17) - Key takeaways(22:15) - A journey-based approach to transformation(23:26) - Episode wrap-up