Leading digital-first banking software provider, Backbase, today announces that Lake Mary, Florida-based credit union, Addition Financial, has selected its omni-channel platform to optimize its user experience. Partnering with Backbase will provide Addition Financial the technology to innovate and differentiate from its competitors, allowing it to offer outstanding digital services for retail and business banking members.
Addition Financial holds over $2 billion in assets under management, with a client base of more than 160,000 members. Addition Financial has ambitions to operate digitally with the sophistication of a big bank, while still maintaining the small-town, personalized experience they offer. This is where Backbase comes in. The platform’s capability to tailor a solution to each individual client, whatever the requirements, was a crucial element in the decision-making process. Addition Financial now has everything it needs to meet its ambitions – speed, flexibility, and seamless integrations with third-party fintechs to provide the best possible service for its members.
Kevin Wright, Addition Financial Chief Information Officer, commented:
“The size of our member base wouldn’t fit a one-size-fits all approach. Instead, collaborating with Backbase will allow us to offer a unique experience that is tailored to fit our members’ demands – this means we can meet their needs now, and into the future.”
Jouk Pleiter, Backbase CEO, adds:
“Backbase is committed to helping partners break down silos to deliver the most seamless user experiences. The current climate we are in is a harsh revelation that a flawless digital offering, for retail and business, is now more important than ever. Addition Financial now has this, and it will allow the credit union to keep supporting the local community in the best way possible.”
Backbase’s Digital-First Banking Platform powers seamless customer experiences, unifying data and functionality from core banking systems and innovative fintech partners. We believe it is vital that banks evolve and maintain superior digital experiences in order to retain privileged control of the customer relationship, drive efficiency, stave off new competition and continue to grow.
More than 100 large financials around the world have benefitted from Backbase’s omni-channel, Digital-First Banking Platform, including ABN AMRO, AIB, Barclays, Banamex, Bank United, BNP Paribas, Central1, Citi bank, Citizens bank, CheBanca!, HDFC, Hiscox, IDFC First, KeyBank, Lloyds Banking Group, Metrobank, Navy Federal Credit Union, PostFinance, RBC, Societe Generale and Westpac.
Industry analysts continue to recognize Backbase’s front runner position. Backase is named a leader in the Celent 2020 Modern Digital Banking Platforms report and awarded Backbase three XCelent eXemplar awards for Technology, Functionality and Service. Celent also named Backbase a leader in Onboarding & Origination Solutions in the 2020 Retail Banking Customer Acquisition Platforms report, awarding Backbase with two XCelent eXemplar awards for Technology and Functionality. Backbase was named a Leader in the Forrester Wave (TM): Digital Banking Engagement Platforms, Q3 2019. The 2019 Ovum Decision Matrix also lists Backbase as the Ultimate Digital Banking Platform Market Leader.
Addition Financial believes in the power of transforming lives by bringing financial success and education to everyone. With a robust suite of financial services designed to meet members’ needs, the credit union serves more than 160,000 members at 25 full-service branches and nine high school branches, and is a part of the Presto! ATM network. Headquartered in Lake Mary, Fla., Addition Financial is a not-for-profit financial cooperative with more than $2 billion in total assets. With a legacy of more than 80 years of serving educators and supporting education, Addition Financial is the Official Financial Institution of the UCF Knights and owns the naming rights to the Addition Financial Arena on the University of Central Florida campus. Addition Financial is also the Preferred Credit Union for Seminole State College and the Preferred Credit Union for Valencia College. For more information, visit AdditionFi.com.