Press Release, 9 June 2020

Celent Names Backbase a Global Leader in Digital Banking

Backbase takes home 4 out of 4 XCelent Awards

  • Backbase Marketing
  • June 9, 2020

Amsterdam – Backbase today announced it has topped Celent’s Modern Digital Banking Channel Platform global vendor assessment, coming first in all four categories of the awards. After a thorough analysis of 9 vendors, the report clearly showcases  Backbase as the leader in the global digital banking channel platforms vendor landscape.

Backbase was praised for its ability to keep ahead of market needs, the flexibility of its platform and the  completeness of its vision for  the use of APIs.

 

Celent Analysts Bob Meara and Stephen Greer concluded:

“There is a reason why banks of all sizes in geographies across the globe continue to rely on Backbase as the provider of its digital services. It’s a perennial winner of industry awards and should be on every bank digital platform shortlist.“

Celent took several key platform criteria into consideration when examining  the contenders. Among those were the ability to leverage the same platform across all points of customer interaction; support for all lines of Business; full support of open APIs and Open Banking; and the drive for consistent innovation. Backbase is proud to have scored highest across all platform capability must-haves.

 

XCelent Technology and XCelent Functionality winner

Backbase’s richness of functionality, underlying modern technology, as well as the built-in flexibility to deploy in a wide range of environments, secured Celent’s Xcelent Functionality 2020 and Xcelent Technology 2020 awards. Celent further highlighted that while the majority of vendors support one or two public clouds, Backbase is exemplary in supporting all – Google, AWS and Microsoft.

 

Celent Analysts, Bob Meara and Stephen Greer stated:

“One of the biggest differentiators of the Backbase platform is the flexibility of the Digital Banking Platform and its SDKs and the completeness of vision around the use of APIs. Backbase-as-a-Service and Backbase Stream are two recent products that sweeten the value proposition and add some additional weight to an already strong offering. We were impressed with their ability to keep ahead of the market needs.”

XCelent Customer Base and XCelent Depth of Service winner

Backbase also took home Celent’s Xcelent Customer Base 2020 and Depth of Service 2020 awards. The extent of regions served, the maturity of the teams, and the higher-than-average customer feedback scores for implementation (pre & post) were among the reasons that secured Backbase the top position.

 

Jouk Pleiter, CEO and Founder of  Backbase commented:

“We’re very pleased to have won a clean sweep in these prestigious awards. This recognition clearly fortifies our leading position in Digital Banking and underpins our relentless focus on innovation. Innovation that provides banks both the speed and the flexibility to continuously deliver outstanding customer experiences and compete in today’s digital-first world. The combination of having rich and scalable out-of-the-box experiences which can then be tailored to create bespoke user journeys is increasingly showing that the  Backbase platform is unique.”

A full copy of the report is available for download.

About Backbase

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 four XCelent eXemplar awards for Technology, Functionality, Customer  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.

About Celent

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].

Media Contact

If you have any questions on Backbase or want to schedule an interview, please contact:

Backbase Marketing
Jacob Bontiusplaats 9
1018 LL, Amsterdam
The Netherlands
[email protected]
+31 20 465 88 88

 

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