Press Release, 1 December 2020

Backbase launches next-generation Engagement Banking Platform and
enhanced Backbase-as-
a-Service solution

Backbase leads the charge in elevating banks to the BigTech single platform approach

  • Backbase Marketing
  • December 1, 2020

Amsterdam: December 1, 2020: Engagement Banking technology provider Backbase today announces the launch of its next-generation platform, as well as the release of its enhanced Backbase-as-a-Service (BaaS) offering. The announcement comes as Backbase hosts its annual event—Backbase Connect—which unites thousands of digital banking leaders virtually to discuss the future of banking and experience Backbase’s newest innovations.

The two launches mark an acceleration of the banking industry’s move towards a technology-led, single platform play—which is already a key disrupter in other industries. 

Backbase’s improved platform, as well as its enhanced BaaS offering, provides banks with the agility of a one-platform infrastructure, while enabling them to draw on the rapid innovation power of Backbase’s rapid release cycles and in-house teams. These two enhanced offerings will allow banks to take full control of customer engagement across their entire financial lifecycle, all in one place, while continuously adapting to customer needs by instantly executing new digital services.

The Engagement Banking Platform now incorporates upgraded features such as a unified security architecture, enhanced banking services, and seamless interoperability. This presents an instant transformation for banks, from technological laggards into state-of-the-art and holistic digital-first businesses. Free from siloes, the rich set of pre-built apps and journeys already enhanced every channel and line of business (Retail, SME, Corporate, Wealth) for customers—but now notably, also employees. 

With the addition of a unified Employee App, customer support staff are freed from laborious manual tasks and duplicated work. This next-level employee empowerment is key to Backbase’s 2021 strategy: provide financial institution employees with tools to focus on improved care and catered, personalized experiences for their customers.

Through the Engagement Banking Platform, banks will be able to orchestrate the complete journey of a customer from onboarding and account opening through to cross-selling and up-selling as financial needs change. Additionally, the platform allows banks to aggregate the value of Backbase’s wider fintech ecosystem by accessing their curated list of external partners, or giving banks the option of selecting their own.

In addition to the platform innovations, Backbase’s enhanced BaaS offering incorporates a key expansion of services – adding complete outsourced DevOps support to its existing managed hosting offering. The enhanced BaaS solution enables banks to maximize their speed of innovation and delivery, allowing them to launch new services faster than ever by drawing on the experience and best practices of Backbase’s in house DevOps experts. By leveraging the new BaaS solution, banks will benefit from increased innovation power, enhanced agility, and the ability to keep pace with market demand, all while lowering operational costs. By capitalizing on Backbase’s team to build, test and deploy digital services on their behalf, banks can shift their focus back to their core concern: the customer.

 

Jouk Pleiter, CEO of Backbase, comments:

“The banking industry has no choice but to adapt to the one-platform play that BigTech has shown us is disrupting every single industry. Without it, banks as we know it will not survive. They need rapid digital execution power and instant innovation abilities if they are going to thrive in the platform economy, where speed is the new currency.

“For technology to truly drive growth, banks must experiment, learn, deploy and scale faster than ever. This is what we are making possible with the launch of our new Engagement Banking Platform and our enhanced BaaS solution. Customers are used to approaching everything in their lives the way they do with Netflix – through one seamless app. To match these expectations, banks need to replace their long-outdated systems and shift to a single platform approach, while innovating at the speed of digital. This is the only way to bring a genuinely customer-centric approach to the banking world and take full control of customers’ entire financial lives. If banks don’t take that control now, someone else will”.

About Backbase

Backbase is on a mission to transform the broken banking system, so financial institutions don’t just interact—they engage—with the people they serve.

That’s made possible with the Backbase Engagement Banking Platform – powering all lines of business on a single platform, including Retail, SME & Corporate and Wealth Management. From digital sales to everyday banking, the platform’s entire design focuses on a seamless and captivating experience for both customers and employees.

Industry analysts Forrester, Ovum and Celent continuously recognize Backbase’s front-runner position, and over 120 large financials around the world are powered by the Backbase Engagement Banking Platform – including AIB, Barclays, Banamex, Bank United, Bank of the Philippine Islands, BNP Paribas, Bremer Bank, Islands, Citibank, Citizens Bank, CheBanca!, Discovery Bank, Greater Bank, HDFC, IDFC First, KeyBank, Lloyds Banking Group, Metrobank, Navy Federal Credit Union, PostFinance, RBC, Société Générale, TPBank, Vantage Bank Texas, and Westpac.

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

 

Get our latest research insights and weekly updates. Sign up now
Cookies on Backbase
We and third-parties use cookies on our website. We use cookies for statistical, preferences and marketing purposes. Google Analytics cookies are anonymized. Your preference can be changed by clicking 'Change options'. By clicking 'Accept' you accept the use of all cookies as described in our privacy-statement.
Necessary
Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.
Preferences
Preference cookies enable a website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in.
Statistics
Statistic cookies help website owners to understand how visitors interact with websites by collecting and reporting information anonymously.
Marketing
Marketing cookies are used to track visitors across websites. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers.