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Backbase wins prestigious Global Private Banker WealthTech Award 2024

Recognition for empowering private wealth managers with innovative digital solutions
Press and Media Header Image Backbase wins Global Private Banker award 2024 EN

Amsterdam, 21 March 2024 – Backbase, the creator of the Engagement Banking Platform, received the WealthTech Award from Global Private Banker in the category of Outstanding Wealth Management Solution by a Vendor - Front Office.

Every year, the coveted award ceremony spotlights technology firms driving advancements and innovations in private banking and wealth management. Backbase secured this recognition for its Wealth Management solution, an omnichannel platform designed to propel private wealth managers into the digital age by enhancing user experience and operational efficiency.

The dawn of the digital era in wealth management

As we approach the Great Wealth Transfer, where fortunes transition to a new generation, the landscape of wealth management is undergoing a noticeable shift. Today’s discerning investors, particularly the digitally-native younger generation, demand more than just financial services—they crave personalized, engaging experiences seamlessly integrated across all touchpoints. Backbase’s Wealth Management is ready to meet these evolving expectations.. Integrated with the Banking Engagement Platform, it leverages the right combination of physical convenience and personal approach, to deliver a comprehensive range of tools designed for exceptional service and hybrid advisory.

Wealth Management Innovation Redefined: The Backbase Advantage

This award recognition is a testament to what sets Backbase apart from the competition: its unwavering commitment to innovation.

Jouk Pleiter, CEO at Backbase, accepted the prestigious award at a virtual gala on February 22nd, 2024, attended by global banking industry influencers and thought leaders. Commenting on the win, Pleiter emphasized the role of Backbase’s mix of digital end-to-end investment offerings, including robo-advisors, trading, and hybrid advice, in securing the jury’s acclaim: “At Backbase, we are committed to empowering private wealth managers with the tools they need to thrive in an increasingly digital world. We are very happy to receive this award as a testament to our dedication to innovation and excellence”.

Leading the charge in WealthTec’s digital transformation

In a time of digital disruption, Backbase stands at the forefront, empowering private wealth managers to navigate the changing landscape with confidence:

Gone are the days of cumbersome customer onboarding processes. With Backbase’s seamless digital onboarding feature, the transition for new clients is both convenient and transparent, ensuring a frictionless start to their investment journey.

By consolidating products, transactions, and real-time information into a single portal, the Backbase Wealth Management solution streamles communication and enhances advisor-client interactions.

Enabling clients to open trading accounts, beginning self-guided investment journeys, and exploring diverse products, are the main functions of this feature. The automated eKYC and AML compliance functionalities eliminate friction, ensuring seamless experiences and peace of mind for clients.

Backbase’s Wealth Management apps come pre-configured with out-of-the-box engagement channels that enable the delivery of personalized advice based on audience segmentations and contextual data.

About Backbase

Backbase is on a mission to re-architect banking around the customer.

Backbase created the Backbase Engagement Banking Platform – a unified platform with the customer at the center, empowering banks to accelerate their digital transformation. From customer onboarding, to servicing, loyalty and loan origination, our single platform — open and frictionless, with ready-to-go apps — improves every aspect of the customer experience. Built from the ground up with the customer at the heart, 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 Gartner, Celent, Omdia and IDC continuously recognize Backbase’s category leadership. Over 120 financials around the world have embraced the Backbase Engagement Banking Platform — including AIB, Banorte, Barclays, BIAT, Bank of the Philippine Islands, BDO, BNP Paribas, Banque Saudi Fransi, BRD, Citibank, Discovery Bank, First National Bank, HDFC, Ila Bank, KeyBank, Lloyds Banking Group, NatWest, Navy Federal Credit Union, OTP Group, PostFinance, Raiffeisen, RBC, Standard Bank, Saudi National Bank, Société Générale, Truist, and TPBank.

Backbase is a private fintech company, founded in 2003 in Amsterdam (Global HQ), with regional offices in Atlanta (Americas HQ), Boise, Cardiff, Dubai, Hyderabad, Kraków, London, Mexico City, Milan, New York, Singapore (Asia HQ), Sydney, and Toronto.