Backbase on AI’s Next Leap in Banking

In the evolving world of digital banking, Backbase is taking a bold stance: don’t slow down AI — accelerate it. Speaking at Money20/20 Middle East 2025, Ahmad from Backbase described how the company sees artificial intelligence not as a future add-on, but as a core enabler of everyday life, reshaping how people manage not just their money, but their entire lifestyle.

“Banking is no longer just about payments or savings,” Ahmad explained. “It’s about understanding each customer’s life journey and offering products that are relevant to their specific phase.” By embedding AI deeper into financial experiences, Backbase envisions a world where banking platforms can truly anticipate individual needs — not react to them.

Yet, this acceleration comes with a profound question: how far should AI go? As institutions race to adopt generative and embedded AI, Ahmad acknowledged a critical limitation — most banks simply aren’t ready. Around 95% of financial institutions still lack the back-office architecture to support fully autonomous AI operations. Legacy systems, siloed data, and fragmented processes remain major hurdles.

AI’s strength lies in data, context, and the trust that banks have built with customers over decades. Without the right foundations, full automation could compromise both resilience and customer comfort. Instead, Ahmad envisions a gradual evolution — one where AI becomes more deeply woven into daily interactions, but with guardrails that ensure stability and transparency.

In Backbase’s view, the coming years won’t see AI frozen in time or confined to hype. Instead, it will become an invisible layer running through digital finance — understanding behaviour, shaping offers, and redefining how customers experience their financial lives.