Backbase Showcases Cutting-edge Technology in Wealth Management at FinovateEurope 2016

Feb 11, 2016, 05:58 ET from Backbase

AMSTERDAM, February 11, 2016 /PRNewswire/ --

Backbase multi-device demo illustrates innovative solutions to transform traditional wealth management into seamless 'Bank 3.0' experiences.

Backbase launched its new wealth management accelerator at FinovateEurope 2016 on February 10 in London. The software technology company revealed the latest edition of the Backbase Digital Platform, packed with powerful wealth and private banking capabilities. This omni-channel solution transforms traditional siloed, customer-facing, legacy applications into a single, well-integrated and dynamic online sales and service platform, empowering affluent and high-net-worth customers any time, any place and on any device.

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One of the biggest challenges facing those in the private banking industry is how best to digitize their products and services in order to provide their high-value customers with a unique, engaging digital experience. Disrupters such as Betterment and Wealthfront are changing the market dynamics, forcing incumbent wealth managers to rethink their business model and digital strategy.

"The message we want to convey to wealth management firms is very clear: we can help you become a disruptor yourself," said Jouk Pleiter, CEO and founder of Backbase. "Just as in retail banking, we now see that the wealth management industry is starting to optimize digital client interactions as their first priority. Firms that will succeed in the fintech revolution will be those who focus on delivering an integrated and well-thought-out customer experience combining traditional and new business models."

On the company's added value, Pleiter said: "Backbase offers a state-of-the-art Digital Wealth Management solution that integrates existing IT banking systems and modern fintech API capabilities. This gives wealth management firms the flexibility to mix and match traditional and modern ingredients into a highly differentiated, personalized digital customer experience."  

In 2015, Backbase was named a leader in the Forrester Wave for Omni-Channel Digital Banking Solutions, and was named 'Visionary' in two Gartner Magic Quadrants: Horizontal Portals and Mobile Application Development Platforms. At the same time, Backbase scored two top 5 positions in Gartner's Critical Capabilities for Mobile Application Development Platforms report, and two top 3 positions in Gartner's Critical Capabilities for Horizontal Portals report.

About Backbase

Backbase helps Financial Institutions around the world to become Digital Leaders and enables them to put digital channels at the core of their business model.  Our award-winning customer experience platform helps enterprises create, manage, and optimize digital experiences across any device. Backbase CXP offers a new, omni-channel presentation layer, that unifies data and functionality from existing business applications and IT systems into a seamless customer journey.

Industry analysts Gartner and Forrester recognize Backbase for its strong vision and solid customer experience management and cross-device delivery capabilities. At the same time Backbase is named by Ovum as market leader in delivering next-generation digital banking solutions.

Backbase's next generation digital banking platform enables FI's to drive self-service, fuel online sales and create superior customer experiences across all digital touch points. Over 50 large Financials around the world have standardized on the Backbase platform to drive and accelerate their digital transformation, including ABN AMRO, AIG, Al Rajhi Bank, Barclays, Bank Hapoalim, CheBanca!, Fidelity, GE, Hiscox, ING, Legal & General, KeyBank, Nationwide, Nordstrom, OTP Bank, PostFinance, PZU, Sberbank, SwissCard, SwissRe and Visa.

Backbase was founded in 2003 and is privately funded with operations in New York, Atlanta, Amsterdam and London.

SOURCE Backbase