Press Release, 24 September 2014

Backbase reveals Backbase Engage and launches Open Banking Marketplace at FinovateFall 2014

Backbase has demoed the latest features of Backbase Engage at FinovateFall 2014. Held in New York, Finovate is the event where the most innovative financial technology vendors are selected to showcase their products.

Backbase, which won ‘Best of Show’ at FinovateEurope earlier this year, revealed Backbase Engage, the new out-of-the-box digital banking solution for banks and credit unions. It’s a full-service digital banking solution that ships with all the functionality that financial institutions need to revitalize their customers’ digital interactions, drastically increasing the stickiness of their relationships with individual customers.

With Backbase Engage, banks take back control over their digital strategy and put an end to vendor lock-in. Backbase Engage’s easily extensible widget structure revolutionizes the traditional digital bank delivery model by empowering banks to make their own strategic choices instead of being locked in to those made by core banking vendor.

As part of its Backbase Engage vision, Backbase is launching the Open Banking Marketplace, with state-of-the-art digital banking apps for Money Movement, PFM, and more. By using Backbase’s modular architecture banks can easily mix and match services from multiple fintech providers without worrying about vendor lock-in. Backbase believes banks and credit unions should have the freedom to innovate and via the Open Banking Marketplace they can easily plug-in multiple innovative banking features directly into their Backbase Engage powered digital banking operation.

“A superior customer experience, across all channels and devices, is essential for any bank that wants to stay relevant to its customers and continue to attract more,” said Jouk Pleiter, CEO & Founder of Backbase. “With Backbase Engage we are offering a modular and flexible digital banking solution for banks and credit unions that allows them to realize a complete digital transformation in next to no time. We are giving banks a superior omni-channel user experience across any device along with a flexible back-end architecture that allows them to choose best-of-breed functionality from different state-of-the-art fintech solution providers. With the Open Banking Marketplace, banks and Credit Unions now have the freedom of choice and the flexibility to innovate fast”.

Backbase is trusted by both large and medium financials across the globe: ABN AMRO, Barclays, Bank of America, Fidelity, Hiscox, Nationwide Bank, and ING, are all improving their digital channels and customer experience by using Backbase technology. Industry analyst Gartner called Backbase the ’most visionary vendor’ for online portals, and Ovum named Backbase a Market Leader when it comes to next-generation digital banking platforms. Recently, Forrester gave Backbase full marks for multi-channel banking experiences. Backbase has offices in New York, Atlanta, Amsterdam, London and Singapore.