Solifi, a fintech software provider for secured finance, has named former Backbase executive Karan Oberoi as its new chief product officer (CPO), effective immediately.

SINGAPORE - Media OutReach Newswire - 13 March 2025 - Backbase, the leader in engagement banking, today announced a strategic partnership with Synpulse, a premier financial services consulting firm, to accelerate digital transformation for banks across Asia-Pacific.

By Jeremy Thomas, Regional Director at BackbaseThe banking sector in Australia and New Zealand is undergoing a transformation driven by Artificial Intelligence (AI), with organisations rapidly integrating AI-powered solutions into their operations.According to consulting firm Bain, 59% of banks globally are already exploring generative AI for customer service applications, while 55% are leveraging it for software development. However, the industry is now moving beyond initial experiments, embracing agentic AI, which promises to redefine banking operations.From experimentation to implementationThe banking sector’s initial foray into AI began with coding assistance tools such as GitHub Copilot, primarily for internal use. Cautious adoption led to the introduction of chatbots designed to handle routine customer queries.However, the landscape is shifting. The advent of autonomous AI agents is enabling banks to streamline operations, enhance customer interactions, and increase revenue through personalisation and automation.Initially viewed as a tool to improve call centre efficiency, AI has now evolved into a strategic asset. Banks are finding that AI agents can significantly reduce labour costs, simplify banking processes, and enhance customer service. By minimising administrative burdens and accelerating data processing, AI is poised to transform financial services.Unlocking AI’s full potentialDespite AI’s promise, its effectiveness hinges on a bank’s ability to integrate AI agents into its broader digital infrastructure