Press Release, 14 January 2014

Ovum names Backbase market leader for next-generation digital banking platforms

Backbase has announced it has been named a market leader by Ovum, the renowned financial services technology analyst. Ovum, which conducts independent research into vendors operating within IT, telecommunications and the financial services industry, has recommended that financials include Backbase on any shortlist when considering digital banking platforms.

The evaluation criteria for the Ovum Decision Matrix for Digital Banking Platforms, across which Backbase scored exceptionally highly, includes market impact, business functionality, and product execution.

Ovum defines the Market Leader category as representing “the leading solutions that we believe are worthy of a place on most technology selection shortlists. The vendor has established a commanding market position with a product that is widely accepted as best-of-breed.”

“The Backbase Customer Experience Platform enables banks to create, manage and optimize their digital customer experiences across multiple devices. It offers a comprehensive solution with well integrated features for secure application access, enterprise application integration, cross-device delivery and rendering, pre-built digital banking widgets, digital marketing, and web content management capabilities. Having Ovum recognize that and name us market leader is a great accomplishment, and something the product, and the team behind it really deserve,” said Jouk Pleiter, CEO and Co-Founder of Backbase. “We have been working incredibly hard to build a product that gives financials the tools they need to be successful and we will continue to do that. At Backbase we believe that creating an unbeatable omni-channel customer experience across all devices is the future of digital banking. Our platform leverages customer data, the FIs’ existing legacy systems, and combines it all with our next-generation web technologies to create fresh, dynamic, and engaging presentation layer.”

According to Ovum, “Backbase hits the most important aspects of digital channels, which are in demand for banks looking for a very modern, agile, and neat solutions. Backbase allows a rapid time-to-market with its responsive design approach to the digital channels. With this solution banks are getting a number of features that are well aligned with current trends in the digital economy, not only allowing for efficient servicing but also effective sales and marketing actions.”

Backbase is set to have a memorable year, having also been positioned as most visionary in the Visionary quadrant of Gartner’s Magic Quadrant for Horizontal Portals.