ATLANTA – May 10, 2022 – Backbase, the Engagement Banking Platform category leader, announced today that it has been named a Leader in the inaugural IDC MarketScape: North America Digital Banking Customer Experience Platforms 2022 Vendor Assessment Report.
This is the sixth leadership recognition in the past year for Backbase1 – a testament to Backbase’s strategic platform vision, empowering banks to make the paradigm shift from being channel-first to customer-first.
Backbase was recognized as a Leader due to the following strengths:
Backbase’s Engagement Banking Platform empowers banks to move from broken experiences, constrained by point solutions to seamless journeys across the full customer lifecycle and all orchestrated on a unified platform. According to the report, “Backbase is a vendor that was most likely to be on a financial institutions list of possible replacement options for their digital banking needs.”
“Backbase has never acquired a technology solution from another vendor, creating a clean architecture and allowing it to focus on enhancing its solution rather than integrating acquired ones,” shares Marc DeCastro, Research Director, Consumer Banking, IDC Financial Insights., and author of the report. “Backbase has taken an approach of build, not buy, to fill its product features and functions and remains one of the only privately held pure-play digital banking providers”.
The IDC MarketScape: North America Digital Banking Customer Experience Platforms 2022 Vendor Assessment (doc #US48061122, March 2022) evaluates 11 vendor solutions providing digital banking solutions to the North American market. The IDC MarketScape assessed each vendor in two areas: strategy and capabilities. The criteria for these areas includes innovation, growth, R&D and delivery in the strategy category, and customer satisfaction, service delivery and functionality in the capability category.
“Our mission at Backbase has always been to help banks and credit unions re-architect their business around the customer with the adoption of an all-encompassing platform model,” says Vincent Bezemer, Senior Vice President of the Americas at Backbase. “The IDC MarketScape’s recognition of our strategic strength only reaffirms our commitment to being banks’ partner for their long-term digital transformation needs. We look forward to continuing to deliver the premier engagement banking platform and best-in-class banking solutions for those in North America, as well as around the globe, in the years to come”.
For the IDC MarketScape: North America Digital Banking Customer Experience Platforms vendor assessment report excerpt, click here.
1) Digital Banking Platform Vendor Scorecard, Javelin Dec 2021, 2) Matrix Report: U.S. Digital Banking Point Solution Providers, Aite-Novarica, Oct 2021 3) Two Forrester reports: The Forrester Wave™: Digital Banking Engagement Platforms & The Forrester Wave™: Digital Banking Engagement Hubs, Q3 2021, Sept 2021, 5) Small Business Digital Account Opening Scorecard, Javelin, July 2021] at the bottom of the page.
Backbase is on a mission to re-architect banking around the customer – to move it out of the channel-first era and into today’s customer-first era.
We make it simple for banks to orchestrate seamless customer and employee journeys across any device, all on one, unified platform. From customer onboarding, to customer servicing, customer loyalty and loan origination, we help financial institutions surpass customers’ expectations at every touchpoint. Built from the ground up as one future-proof platform, our Engagement Banking Platform easily plugs into existing core banking systems and comes pre-integrated with the latest fintechs so financial institutions can innovate at scale.
Industry analysts Forrester, Gartner, Omdia, Celent and IDC continuously recognize Backbase’s category leadership position. Over 150 financials around the world have embraced the Backbase Engagement Banking Platform – including AIB, Barclays, Bank of the Philippines, BNP Paribas, Islands, Citibank, Citizens Bank, CheBanca!, Discovery Bank, Greater Bank, HDFC, IDFC First, KeyBank, Lloyds Banking Group, Navy Federal Credit Union, PostFinance, RBC, Société Générale, TPBank, Vantage Bank Texas, Westpac, and Wildfire Credit Union.
Backbase is a privately funded fintech company, founded in 2003 in Amsterdam (global HQ), with regional offices in Atlanta (Americas HQ), New York, Boise, Mexico City, Toronto, London, Cardiff, Dubai, Kraków, Singapore, Sydney, Australia and Tokyo
About IDC MarketScape
About IDC MarketScape: IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.