LONDON (11 June 2023) – Furness Building Society (FBS), the member-owned building society, announced that it has partnered with Backbase, the leading global Engagement Banking Platform provider, to develop its new digital savings platform.
As a member-owned building society, FBS prioritises its members’ needs above all else. In the next three to five years, the society intends to upgrade both its physical and digital offerings. An important objective of the transformation plan is to provide both branch and digital channels for its saving services. FBS therefore needed a partner to help with the transformation of its digital savings offering.
“Everything we do is motivated by improving the service we provide our members. But to serve them to the highest standard, we need an exceptional digital experience. That’s why we’ve partnered with Backbase,” said Chris Harrison, CEO of Furness Building Society. “It was clear the team knew exactly what we wanted and have the technology that can deliver. Their adaptable out-of-the-box journeys will accelerate projects and speed up the time to market, while the cloud-based nature of the platform allows for constant improvement that provides long-term value to our members. It’s an exciting time.”
The new digital platform will provide FBS’ members with a seamless, new digital platform to manage their savings across both web and mobile applications. The customer-centric nature of FBS means it is being built with a true understanding of its members’ needs and will help them to tackle the challenges they may face, both in the branch and online.
Not only will the platform dramatically improve the user experience for existing customers, it will also support FBS’ growth strategy. The platform is designed to be highly accessible, replacing manual applications with smooth digital onboarding that allows both new and existing members to start using the platform with minimal friction.
“This is a milestone for Backbase,” said Jouk Pleiter, Founder and CEO of Backbase. “We’ve worked with lots of credit unions in the US, which have a similar member-centric approach, but this is our first UK building society. It’s always a positive collaboration when we work with businesses that put their customers at the heart of what they do, so we are looking forward to creating something that FBS’ members really love. Although the focus is on the new digital savings platform at this stage, we fully intend to be a long-term partner and support FBS with their ongoing digital transformation.”
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 centre, 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, Omdia and IDC continuously recognize Backbase’s category leadership position. Over 150 financials around the world have embraced the Backbase Engagement Banking Platform - including Advanzia, Banco Caja Social, Banco de la Nacion Peru, Bank of the Philippine Islands, Citizens Bank, Greater Bank, HDFC, Judo Bank, KeyBank, National Bank of Bahrain, Natwest, Raiffeisen, Standard Bank, Société Générale, and TPBank.
Backbase is a private 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 (Asia HQ), Hyderabad, and Sydney.