Case Study: I&M Bank becomes a leading universal bank with Backbase

I&M Bank cuts onboarding from one day to five minutes with Backbase

I&M Bank, a long-standing financial institution in East Africa, sought to transform from a corporate specialist into a leading universal bank. Their challenge was to scale their retail and SMB segments without compromising their corporate banking strength, which required them to simplify their tech stack and deliver modern digital experiences that meet evolving customer expectations. They partnered with Backbase to implement its Engagement Banking platform.

By implementing the Backbase platform, I&M Bank gained the flexibility and control to modernize its digital foundation. The solution provided a scalable architecture that empowered the bank's teams to own their roadmap and accelerate innovation. The results were significant, including a 64% reduction in customer acquisition cost, a 99% faster onboarding process, and a 72% reduction in cost-to-serve, helping I&M achieve a number one ranking in customer sentiment in Kenya.

I&M Bank