In 2020, financial institutions were thrust into the spotlight with the onset of the COVID crisis, needing to respond to unforeseen circumstances in an instant. Despite some hiccups, the banking industry’s collective response to the pandemic thus far has been notable by going fully virtual and executing an untested operating model in a short span of time. The pandemic has reshaped the global banking industry on a number of dimensions by accelerating digitization in almost every sphere of banking and capital markets. In addition to a range of new financial needs, particularly around liquidity, for many retail and business customers, the crisis has ushered a new competitive landscape, stifling growth in traditional product areas, prompting a new wave of innovation and recasting the role of branches. That said, it is imperative that banks strengthen their cloud-based platforms and infrastructures to cost-effectively modernize core technology systems in order to elevate customer engagement and improve efficiency through compelling service delivery models consisting of digital and human interactions. A fast-growing fintech software provider, Backbase, is empowering financial institutions to accelerate their digital transformation and effectively compete in a digital-first world. The company’s omni-channel banking platform is a state-of-the-art digital banking software solution that unifies data and functionality from traditional core systems to enable new fintech players to provide a seamless digital customer experience. “We believe that superior digital experiences are essential to stay relevant, and our software enables financials to rapidly grow their digital business,” - Jouk Pleiter, CEO of Backbase.

Backbase’s end-to-end engagement banking platform enables fintech companies to modernize and orchestrate customer touch points, transforming multiple siloed banking channels and legacy applications into a consistent and seamless brand experience. The company allows users to repurpose existing business applications by incorporating their content, data, and functionality into new digital customer experience layers to deliver a unified and seamless customer experience across any device solutions.

It’s out-of-the-box digital banking solutions to help financial institutions jumpstart their digital transformation and optimize functions for retail banking, commercial banking, wealth management, and insurance-specific scenarios. Backbase’s end-to-end engagement banking platform enables its users to leverage industry best practices, and ready-to-go implementation accelerators significantly decreased time to market. ‘We have invested in many years of R&D to provide the exact editing and digital marketing tools to take full control in optimizing the customer experience, resulting in more sales conversions,” - Pleiter.

Founded by Jouk Pleiter in 2003, a digital entrepreneur saw that banks were struggling with their digital transformation. The solutions appeared clunky and different operations of the banks operated in a disjointed way. As a result, he decided to develop to help banks digitize their processes. Today the company has over 1,000 employees, of which 50 per cent are focused exclusively on product development. Over the years, the company has acquired a strong global client base and has worked with banks in developed markets such as Europe, Canada, Japan, New Zealand, and the US and as well as new markets such as Kenya. “We enable financial institutions to achieve the speed and flexibility to create seamless customer experiences across any device, and deliver measurable business results,”- Pleiter.