Backbase Named Leader in Omdia’s Digital Banking Platforms Report for 2023

Backbase, the Engagement Banking leader, has again been recognized as a leader in Omdia Universe’s Digital Banking Platforms report for 2023. The report recommends Backbase as a strong candidate for financial institutions seeking a wide-ranging platform that can be co-innovated for specific business goals. Backbase has helped 150+ banks around the globe and in the Asia Pacific rearchitect banking around their customers, offering advanced banking and beyond banking experiences to retain their customers.

The report cites Backbase’s consistent strength across all areas of evaluation and its highest overall ratings for solution capability and customer experience. Backbase’s strong solution capabilities and breadth of out-of-the-box journeys, combined with the ability to customize further, are credited for its retention of leadership status. Backbase’s partner ecosystem and investment in off-the-shelf capabilities have also contributed to the breadth of its Engagement Banking Platform.

The value Backbase brings is to provide efficiencies and innovation beyond basic digitalization of banking products, in order for banks to differentiate their digital banking services whether deployed on-premise, hybrid or in the

Riddhi Dutta, Regional Vice President, Asia, Backbase

The report emphasizes that choosing the best off-the-shelf product is insufficient for financial institutions. The authors added that it is necessary to consider a vendor’s ability to enable and drive innovation, offer a strong user experience, and provide advice on launching new products and services quickly and effectively. Omdia recognizes the uniqueness of the Backbase Engagement Banking Platform, which has been “designed on a single omnichannel banking platform architecture, as opposed to being built through acquisitions.”

With the high expectations of consumers in Asia Pacific towards banking services, Backbase has helped modernize the customer experience for banking customers, launching them into banks of the future. Backbase offers banks the power to hyper-personalize and secure a 360-degree unified view of customers across all lines of business and channels for a truly digital-first experience.

Click here to read the Omdia Universe: Digital Banking Platforms, 2023 report.

 Backbase is on a mission to re-architect banking around the customer.

Backbase created the Backbase Engagement Banking Platform – a unified platform with the customer at the centre, empowering banks to accelerate their digital transformation. From customer onboarding to servicing, loyalty, and loan origination, our single platform — open and frictionless, with ready-to-go apps — improves every aspect of the customer experience. Built from the ground up with the customer at heart, our Engagement Banking Platform easily plugs into existing core banking systems. It comes pre-integrated with the latest fintech so financial institutions can innovate at scale.

Industry analysts Gartner, Omdia, and IDC continuously recognize Backbase’s category leadership position. Over 150 financials around the world have embraced the Backbase Engagement Banking Platform. In APAC, our customers include ABBANK, BDO Unibank, Bank of the Philippine Islands, EastWest Bank, HDFC, IDFC First, JudoBank, Techcombank, TPBank, and UBank.

Backbase is a privately funded fintech company, founded in 2003 in Amsterdam (Global HQ), with regional offices in Singapore (APAC HQ), Atlanta (Americas HQ), and operations in Australia, India, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Latin America, and the UK.

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