Mauritius Commercial Bank in partnership with Backbase transforms the SME banking market

By Pavithra R

Mauritius Commercial Bank (MCB), a commercial bank in Mauritius, has announced that the bank has gone live with a new mobile app for SMEs built from the ground up on the Backbase Digital-first Banking Platform. 

MCB has set out on a digital transformation journey together with Backbase to modernize and unify it’s architecture while at the same time extending its agile delivery capability. Through the partnership, MCB is accelerating the path towards digital transformation to enhance the customer experience by providing clients with tailored services that they can easily access, wherever they are.

“SME banking has traditionally been overlooked, but there is a significant opportunity to change how small businesses do banking by properly addressing their needs. JuicePro, our new app, has listened to the market and taken our SME services mobile to smoothen all journeys. However, this is just the first step to revolutionising our entire offering. We’re very excited about continuing this journey with Backbase, who have managed to take a complex set of business lines and provide a holistic view so we can maintain the very highest quality of user journeys,” said Dominic Provençal of MCB.

MCB’s transformation to digital-first enabled the bank to shorten the time to develop new products and reduce time to market. The introduction of the Backbase platform has kept MCB in complete control of the customer journey across all touch-points and lines of business. For MCB, the clear starting point was a mobile platform for SMEs, catering to growing customer demand, providing smoother and bespoke banking experience, and then to be replicated across all business lines using the Backbase Omni-channel banking platform. The bank has noticed positive feedback from SME customers shortly after the launch, with a usage rate of 85% and users signing in on average 14 times a month.

“It’s fantastic to see such an effective partnership emerging between us. Our unique platform has allowed MCB to quickly build and launch their SME banking app in a relative short time frame. But that’s not all, the flexible nature of the platform allows them to drive continuous product innovation to respond to emerging customer needs and pressures from competitors and regulators alike. Now, with the go-live of phase 1 being such a success, MCB can now continue to add and launch new features to their SME customers and at the same time start the roll-out of new digital web and mobile apps across their other business lines. We look forward to seeing them continue to grow and become a true digital leader,” said Jouk Pleiter, CEO at Backbase.

Recently, Wildfire Credit Union selected Backbase for its digital transformation.

Founded in 2003, Backbase is a fast-growing FinTech software provider that empowers financial institutions to accelerate their digital transformation and effectively compete in a digital-first world. Its platform is being used by financials including ABN AMRO, AIB, Barclays, Banamex, Bank United, BNP Paribas, Citi bank, Citizens Bank, CheBanca!, HDFC, Hiscox, Central1, KeyBank, Lloyds Banking Group, Metrobank, IDFC First, Navy Federal Credit Union, PostFinance, RBC, Societe Generale, and Westpac among others.