Backbase Buys Kasisto to Accelerate AI Transformation Across African Banks

Banking technology provider Backbase has acquired AI company Kasisto to fast-track artificial intelligence adoption among African banks.

The deal integrates Kasisto’s agentic AI platform into Backbase’s Banking OS, helping banks modernise without full core system replacements.

A recent survey identified legacy system integration as the biggest barrier to scaling AI solutions across Africa.

The combined platform allows banks to move from simple chatbots to fully transactional AI systems that comply with regulations.

Institutions like Absa and Nedbank have already seen significant improvements using the technology.

Executives believe the acquisition will help African banks leapfrog traditional modernisation timelines.

The move reflects growing demand for practical AI solutions that deliver efficiency while maintaining compliance.

Backbase aims to position the platform as a game-changer for digital banking transformation across Africa.

Industry leaders see this as a significant step toward building more competitive financial institutions on the continent.

Source: FSX Business News