Navy Federal Credit Union announces 7-year strategic partnership with Backbase

Atlanta, April 11, 2024 – Backbase, the AI-native Banking OS, announces today the renewal and expansion of its partnership with Navy Federal Credit Union, the world’s largest credit union with more than 13 million members and $171 billion in assets, proudly serving U.S. veterans, retired service members and active duty in all branches of the armed forces and their family members.

Navy Federal Credit Union has embarked on an ambitious multi-year transformation journey, standardizing on Backbase as the AI-native Banking OS of choice. This renewal positions Backbase as the Control Plane for member and employee-facing applications, coordinating execution across channels through a Unified Frontline.

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By adopting the Backbase, Navy Federal Credit Union will achieve:

• Modernization and simplification of the credit union’s existing IT landscape by reducing the number of siloed channel applications.
• One unified platform, consolidating data, business logic, and workflows into a single, member-centric platform for efficient journey orchestration, benefiting both members and employees.
• Agility and freedom, enhancing flexibility to swiftly implement business capabilities and adapt to evolving market dynamics.

“We are continuously looking for ways to enable our digital transformation,” said Kathy Ward, SVP Digital of Navy Federal Credit Union. “Collaborating with strategic partners like Backbase has been instrumental to our goal of simplifying and enhancing member experiences by utilizing a single platform across digital interactions.”

“With this partnership renewal, we’re excited to reaffirm our mutual commitment to revolutionizing digital experiences for Navy Federal Credit Union’s members and employees,”

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“Our decision to extend the partnership was driven by Backbase’s comprehensive engagement platform, which allows us to truly innovate,” says Ward.

The partnership between the world’s largest credit union and Backbase represents a significant leap toward modernizing banking. Together, the collaboration emphasizes the importance of long-term, strategic investments in technology to bring true value creation, moving away from legacy systems that hold speed and innovation back.

About Navy Federal Credit Union

Established in 1933 with only seven members, Navy Federal now has the distinct honor of serving more than 13 million members globally and is the world’s largest credit union. As a member-owned and not-for-profit organization, Navy Federal always puts the financial needs of its members first. Membership is open to all Department of Defense and Coast Guard Active Duty, Veterans, civilian and contractor personnel, and their families. Navy Federal employs a workforce of over 24,000 and has a global network of 355 branches. For more information about Navy Federal Credit Union, visit navyfederal.org. Federally insured by NCUA. Equal Opportunity Employer.