Backbase wins prestigious Global Private Banker wealthtech award

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:

• Simplifying the customer journey with Digital Onboarding

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.

• Unified Portal for Customer Servicing

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

• Putting Customers in Control With Product Origination

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.

• Customer Loyalty for Personalized Experiences at Scale

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.