Backbase wins award for AI-driven wealth management platform
Backbase has been named a winner of the 2025 Datos Impact Awards in Wealth Management for its AI-Driven Client Recommendations & Personalisation platform.
Datos Insights has highlighted Backbase for its integration of artificial intelligence within its banking platform, distinguishing it from other approaches that add AI features onto existing systems. The award acknowledges the impact of Backbase's platform in addressing key challenges found in wealth management, including disconnected advisor tools, reliance on manual processes, and growing demands from clients for more personalised digital interactions.
According to Backbase, its platform offers measurable improvements for wealth management organisations. The company reports that the system can reduce client onboarding timelines from several weeks down to days, increase adoption of digital services among clients, and enable advisors to handle more extensive portfolios efficiently. Typical implementation periods for new customers are reported to be in the range of five to seven months, significantly less than the industry norm for similar technology rollouts. This, the company states, gives firms the ability to adapt to market pressures and seize competitive advantages more quickly.
Winning this award reflects our deep commitment to helping wealth managers meet the demands of today's digital-first investors while empowering advisors to deliver better service. We didn't just digitise paper forms or add chatbots. We fundamentally reimagined how wealth managers operate by embedding AI across advisor workstations, client portals, and every operational workflow. This allows firms to deliver the sophisticated, personalised experiences that modern investors demand: from initial prospecting through generational wealth transfer, while accelerating advisor productivity and time to value.
The quote from Lennart Asshoff, Product Director - Wealth at Backbase, reflects the company's perspective that the platform does not simply provide digital documentation or cursory AI features, but instead applies AI throughout advisor and client-facing processes in the wealth management cycle.
Industry challenges
The wealth management sector is currently contending with several pressures. Next-generation clients increasingly expect digital experiences on par with technology sector standards. Advisors face the challenge of working with fragmented software tools that reduce their efficiency and impact client relationship management. Additionally, the predicted movement of assets between generations - referenced as the Great Wealth Transfer - poses a risk for client retention as these assets are reassigned. Meanwhile, technology-focused financial service providers, or fintechs, continue to gain market with their digital platforms.
Backbase's offering is described as providing comprehensive solutions to these industry issues via a number of specific capabilities: a unified advisor desktop that brings customer management, personalised investment proposals, and sales procedures into one workspace; an intelligent, mobile-first client portal featuring personalised dashboards and real-time collaboration; an employee workspace designed to streamline tasks like onboarding and compliance via AI-driven agents; and segment-specific personalisation capabilities, including automated document validation and individualised recommendations.
Industry response
Backbase has created a comprehensive wealth management solution that addresses the industry's most pressing need: seamless digital experiences that drive both client satisfaction and advisor productivity. By integrating advisor workstations, client portals, and AI-powered insights into a single platform with open, modular architecture, Backbase enables financial institutions to rapidly deploy personalized services while maintaining the flexibility to integrate with existing systems and emerging fintechs.
Wally Okby, Strategic Advisor at Datos Insights, made this statement in relation to the award, focusing on how Backbase's architecture supports both institutional deployment and ongoing development needs.
