Backbase: Why Banks Must Fix the Back Office

At Money20/20 Middle East 2025, Ahmad from Backbase addressed one of the industry’s hardest truths — that banks can’t do it all alone. While some institutions still believe they can build everything internally, Ahmad argued that sustainable innovation demands specialist partners. “You need those who test, measure, and deploy across institutions like yours,” he said. “Because the question isn’t whether you can answer today’s needs — it’s whether you’ll be ready for tomorrow’s.”

He sees smaller financial institutions leading the way in AI adoption precisely because they understand their limits. These banks are forming agile partnerships and adopting composable, plug-in solutions that accelerate transformation without the weight of legacy infrastructure.

But for any of it to work, Ahmad insists, the focus must start with the back office. “If you don’t fix the back office, the front office won’t work — and the middle office will be confused,” he explained. Incomplete data, weak governance, and outdated fraud systems can derail even the best customer-facing initiatives. Fraud and risk management, though less glamorous, form the foundation of digital trust — and without trust, innovation collapses.

Still, Ahmad recognises the other side of the equation. While back-office reform ensures resilience, front-office modernisation drives revenue. Customer-centric, AI-driven experiences generate engagement, satisfaction, and the financial returns that justify continuous reinvestment.

“The truth is, there’s no single right answer,” he said. “It’s about readiness — how strong your back office is to support the front, or how much your front can generate to invest in the back.” For Backbase, this balance defines the next chapter of banking transformation: composable, connected, and customer-first.