Last Updated on September 10, 2026 by TMB
Global payments and technology company Mastercard has teamed up with AI-native Banking Operating System, Backbase, to use artificial intelligence to boost services offered by financial technology companies. The collaboration will give Backbase’s customers access to Mastercard features to expand services across the board.
A Backbase announcement states that the aim is to ensure connected institutions improve customer engagement and strengthen their decision-making processes. The collaboration also aims to transform digital processes through data insights and improved cybersecurity, among other tools. These tools will be available to institutions, alongside Backbase’s Banking Operating System, to provide customers with a unique banking experience and boost business growth.
Benefits of the Collaboration
Backbase says institutions will enjoy simplified processes, access to personalization, and access to complex analytics. The announcement mentions that personalization will be available through Dynamic Yield by Mastercard, which will support personalization and customer engagement, while access to the commercial impact of campaigns, pricing, and products will be available through Test & Learn. The collaboration will also provide access to SpendingPulse for deep analytical insights into macroeconomics to support decision-making, as well as Cyber Quant for cyber risk assessment and support.
According to Mastercard’s EEMEA Executive Vice President of Services Selin Bahadirli, banks are already using AI more directly instead of simple experimentation. Bahadirli says the collaboration taps into this to support digital transformation and show how agentic banking advances from simple proof of concept to production.
Mastercard and Backbase believe the next generation of banking will be built on agentic AI, which allows AI tools to make decisions for customers as long as those actions stay within specific parameters. Mastercard already began the agentic push by launching Agent Pay in Dubai last November, a tool that lets an AI agent conduct several transactions for customers.
Backbase’s VP of Collaborations and Alliances Ricardo Ribelles explained there is more to the partnership than simple technology integration. Ribelles said:
“By deepening our collaboration with Mastercard, we’re accelerating our ability to help banks worldwide harness the full potential of AI. Together, we are helping financial institutions access capabilities that support more personalized customer engagement, stronger decision-making and greater operational resilience.”
Backbase’s AI Banking Push
In June, Backbase announced a partnership with Mastercard to simplify cross-border payments by enabling near real-time adoption. The main goal is to reduce implementation timelines and simplify payment flow management throughout each process, from the customer’s initiation to transaction settlement and reconciliation.
To advance its agentic banking goals, Backbase acquired agentic AI company Kasisto to drive adoption of banking-grade agentic AI, so agents can resolve real customer issues and act proactively, rather than simply answering customer questions. The Kasisto acquisition also helps Backbase expand its services in the North American market.
