Backbase, a global leader in Engagement Banking, announced today an expanded relationship with Eastern Bank (Eastern), a Boston-based financial institution with approximately $22 billion in assets. Eastern is adopting Backbase-as-a-Service (BaaS) and Backbase’s Engagement Banking Platform, which will offer enhanced digital banking solutions.
The solutions Eastern is adopting will leverage personalization, speed of innovation, and time to market, all becoming more essential than ever in the financial services sector, and Backbase provides Eastern with the technological infrastructure to quickly develop and release new services to customers. Backbase’s integration with Microsoft accelerates this by leveraging the Backbase Engagement Banking Platform on top of Microsoft Cloud for Financial Services and Microsoft Power Platform. In addition, Microsoft’s Azure Marketplace allows Eastern Bank to swiftly procure the Backbase solution.
Microsoft Cloud for Financial Services is an industry-specific, integrated set of cloud solutions, with the Backbase Engagement Banking Platform serving in the engagement layer while accessing Azure’s underlying capabilities. Backbase offers out-of-the-box customer journeys, as well as a full suite of capabilities to empower banks to build differentiated offerings.
Microsoft then adds a powerful cloud-based infrastructure that is secure and compliant, and enables interoperability, allowing financial institutions to move quickly via an end-to-end cloud-based operating model.
Roland Booijen, General Manager of Ecosystems at Backbase, said:
“Building a differentiated offering requires genuine collaboration, and we’re proud that Backbase can play an important role in delivering hyper-personalized journeys and offerings to Eastern Bank’s customers. This extended relationship is a vote of confidence in Backbase’s shared vision with Microsoft for an industry cloud and Engagement Banking platform that will accelerate Eastern Bank’s transformation.”
About Eastern Bank
Founded in 1818, Boston-based Eastern Bank has more than 120 locations serving communities in eastern Massachusetts, southern and coastal New Hampshire, and Rhode Island. As of September 30, 2022, Eastern Bank had approximately $22 billion in total assets. Eastern provides banking, investment, and insurance products and services for consumers and businesses of all sizes, including through its Eastern Wealth Management division and its Eastern Insurance Group LLC subsidiary. Eastern takes pride in its outspoken advocacy and community support that includes $240 million in charitable giving since 1994. An inclusive company, Eastern employs approximately 2,100 deeply committed professionals who value relationships with their customers, colleagues, and communities. For more information, visit www.easternbank.com and follow Eastern on Facebook, LinkedIn, Twitter and Instagram.