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Backbase earns dual recognition for Engagement Banking at the IBSi Global Fintech Innovation Awards

We’re the global leader in Engagement Banking, and Eastern Bank is a Boston-based financial institution with approximately $21 billion in assets. It has more than 120 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire and Rhode Island. Eastern provides a full range of banking and wealth management solutions for consumers and businesses of all sizes. Together, we won two awards at the 2023 IBS Intelligence (IBSi) Global Fintech Innovation Awards.

by Backbase

Introduction

We were recognized as winners of the “Best Project Implementation” award in the “Best Digital Channel/Platform Implementation” category and the “Most Agile Deployment” award in the “Most Effective Bank-Fintech Partnership” category. Both wins underscore our joint commitment to innovation and our dedication to building banking around the customer.

What are the IBSi Global Fintech Innovation Awards?

The IBSi Global Fintech Innovation Awards identify and honor banks, FIs, and technology players for their excellence in driving impact through banking technology implementations and innovations using emerging technologies. More than 105 banks and FIs and 75 technology vendors participated in the awards, and more than 275 technology implementations were evaluated across 47 countries.

Backbase and Eastern Bank: Our story

We first engaged with Eastern Bank in early 2022 to deploy Backbase-as-a-Service and Backbase's Digital Sales solutions. This initial engagement allowed Eastern Bank to digitize its account opening process, reducing friction and complexity for new retail and business customers. Leveraging our out-of-the-box accelerators and integrations with third-party fintechs also helped Eastern Bank create customized digital offerings based on customer feedback.

Following our initial successes, Eastern Bank implemented our Engagement Banking Platform – a one-stop shop for all customer needs, including onboarding, account opening, credit, and other services – just months later.

“With Backbase’s Engagement Banking Platform, Eastern Bank advanced its comprehensive, customer-centric approach that fostered loyalty and met the evolving needs of its diverse customer base. Together, they redefined banking, empowering customers to take control of their financial journeys while staying at the forefront of innovation in the financial services sector,” said, Nikhil Gokhale, Director – Research & Digital Properties at IBS Intelligence. He congratulated Backbase for their wins in the categories, ‘Best Digital Channel/Platform Implementation: Best Project Implementation’ and ‘Most Effective Bank-FinTech Partnership: Most Agile Deployment’.

Of our dual win, Rich Kiel, Managing Director & Head of Enterprise Sales, NA with Backbase commented:

“We’re proud to be recognized for the work we’ve done with Eastern Bank.. These awards are a testament to our dedication to our customers, like Eastern, who are eager to take the next step in digitizing their offerings. Together, we’re able to push the boundaries and redefine what banking should look like, while showcasing the effectiveness of bank/fintech collaboration.”