FinanceNews Fintech One to Watch: Backbase

Backbase is a software company, founded in the Netherlands in 2003, which has offices in Amsterdam, the Netherlands, New York, United States, Moscow, Russia and Singapore. The core products of Backbase are Backbase Portal and Backbase Forms.

Backbase was founded in 2003 in Amsterdam, The Netherlands by Jouk Pleiter and Gerbert Kaandorp to develop an AJAX framework using HTML, Javascript and CSS. Backbase used the term Rich Internet Applications to classify its software. In February 2005, Jesse James Garret coined the term AJAX, after which classification “Ajax-based Rich Internet Applications” was adopted. In May 2005, the Backbase Community Edition (CE) was launched, supported by the Backbase Developer Network.[1] The Backbase CE was a framework for developers and companies to build Rich and Web 2.0 Internet applications.

In 2008, Backbase decided to develop its own Portal Software. Backbase had made a 180-degree turn in its focus based on a shift it saw in the market with company Marketing Departments beginning to take over responsibility from IT Departments for the customer-facing part of their web sites. Quality Open Source frameworks were also beginning to emerge and in 2009 Backbase released Backbase Portal 4. In May 2011, Backbase released Backbase Portal 5, with a total focus on widgets.

At the beginning of 2011 Backbase opened an office in North America, in New York City, to better focus on its US customer-base.

Press Coverage

Backbase Wins ‘Best Of Show’ at Finovate Europe 2014 For Its New Omni-Channel Digital Sales and Enrollment Module

Out of the 67 companies that presented, the audience voted for Backbase as Best of Show. With its newly launched digital sales module, Backbase helps banks and insurers increase their online revenue by improving the customer onboarding experience across devices and channels.

Backbase, the makers of the Backbase Customer Experience Platform (CXP), launched their new Digital Sales and Enrollment Module at Finovate Europe 2014, the leading fintech conference in London, United Kingdom. The demo, which showed a streamlined, omni-channel loan application process, was voted ‘Best of Show’ by the audience of banking professionals.

The key features in the newly launched module include advanced targeting and segmentation rules within the Backbase digital marketing engine, which will help digital marketers at financial institutions optimize their digital sales campaigns. Also included are new out-of-the-box enrollment and origination capabilities that cover the entire digital application process, utilizing device specific features, like employing the camera on mobile devices to take pictures and using character recognition (OCR) to automatically pre-fill forms. The enrollment process is completely omni-channel ready; its possible to start an application on one device and continue on any other device, or in any other channel with a seamless handover and orchestration between channels.

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