Backbase and Payveris Sign Digital Banking Partnership

Digital banking firms Backbase and Payveris have signed a partnership deal which will see the creation of an integrated digital payments solution, reports Alex Hamilton of Fintech Futures, Finovate’s sister publication.

According to the two firms, their combined offering will enable financial institutions “of all sizes” to deliver “next generation” payment and money movement services.

“The banking industry’s legacy payment infrastructures are increasingly fragmented, inflexible, costly, and difficult to integrate with,” the companies write in a press release.

“Backbase’s raison d’être is clear: to develop and deliver efficient, effective tools that help financial institutions accelerate their digital transformation and provide superior digital experiences for customers,” said Jouk Pleiter, Backbase CEO. “By integrating the Payveris solution into our own, we are solving yet another pain point for the industry. Banks and credit unions have been crying out for a way to modernize and simplify their payments operating environments.”

Marcell King, chief innovation officer at Payveris, added, “By combining the power of Backbase’s progressive digital banking platform with the flexibility of Payveris’ open API MoveMoney Platform, you end up with a real wow-factor for a user interface, with functionality that delivers low friction digital money movement and management.”

At FinovateEurope 2018, Backbase unveiled the Customer OS in a demo that won the Amsterdam-based company Best of Show honors for the fourth time. Last July, the company teamed up with Jumio to deliver online ID verification services and in December the company partnered with Polish bank BGŻ BNP Paribas Bank.

Finovate Alumni News

On Finovate.com

  • Backbase and Payveris sign digital banking partnership.

Around the web

  • Xero and GoCardless partner to solve late payments in the U.S. and Canada.
  • The Charlotte Observer lists Jack Henry on Top Workplaces list for fifth consecutive year.
  • Lendio’s online bookkeeping software, Sunrise, partners with WePay.
  • Xero now integrates with BP Plus Fuel Card in Australia and the BP Fuelcard in New Zealand.
  • Flywire provides Bank of America clients enhanced access to cross-border payments and receipts.
  • Tinkoff begins trading on Moscow Exchange.
  • Jumio launches Jumio Go, a real-time, automated identity verification solution powered by AI.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Fiserv Unveils its Intelligent Billpay Service, CheckFree Next.
  • Kabbage Joins the Small Business Payments Processing Party.
  • Raising Roostify: Santander InnoVentures Leads Expansion Round.

Around the web

  • Backbase teams up with Payveris to bring integrated digital payments and money movement solutions to FIs.
  • TransUnion appoints communications and IT services veteran Mike Davies as UK Chief Operating Officer.
  • Danish challenger bank Lunar chooses financial crime mitigation technology from Temenos.
  • Finn AI announces expansion of its partnership with Visa beyond Canada.
  • Revolut opens up new offices in Singapore.
  • myGini successfully completes PCI Level 1 compliance audit.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Singapore’s CredoLab Partners with CIMB Bank Philippines in Bid to Boost Financial Inclusion.
  • Refinitiv Inks Strategic Partnership with SigFig.
  • PayPal’s move into China is a big deal.

Around the web

  • DriveWealth appoints Julie Coin as new President.
  • NOVO BANCO to deploy billing and payment tech from Fiserv.
  • Finastra deepens ties with Seattle Bank.
  • NIIT Technologies partners with mabl to deliver faster application testing services.
  • Lendio to double sales force, expand loan product offerings.
  • Faraday integrates with Iterable to enable mutual customers to leverage Faraday’s AI-generated predictions in their Iterable workflows.
  • BehavioSec earns Gold at the 2019 Golden Bridge Awards and is selected as the CyberSecurity Breakthrough Awards’ Multifactor Solution of the Year.
  • Signifyd’s Seamless SCA solution receives all of the merchant domain EMVCo certifications.
  • Backbase opens office in Dubai.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Content Capture Innovator Ephesoft Allies with Grant Thornton.
  • Gusto Raises $200 Million with $3.8 Billion Valuation.

Around the web

  • TD Ameritrade offers voice-activated investing technology.
  • NIIT Technologies’ revenue grew 16+% YoY, and its after-tax profit increased 2% YoY.
  • Scalable Capital partners with Futurae to add multi-factor authentication technology into its investment platform.
  • LoanScorecard goes live with its Bank Statement Analyzer tool.
  • Betterment adds savings and checking accounts to its offerings.
  • U.K. neobank revverbank to deploy cloud banking technology from Finastra.
  • CardFlight partners with PAX Technology to make SwipeSimple terminal available to clients on the PAX A920 and PAX A80.
  • Australia’s Volt Bank teams up with FIS to power its mobile and card payment services.
  • Alterna Bank unveils its new advanced digital platform, Forge, powered by Backbase.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Ninth Wave Lands New Investment.

Around the web

  • Lendio moves headquarters from South Jordan to Lehi, Utah.
  • Revolut launches charitable giving feature.
  • Backbase is named a leader in the Forrester Wave for Digital Banking Engagement Platforms for the third year in a row.
  • InComm becomes exclusive distributor of Amex prepaid cards in Canada.
  • Tradeshift launches Tradeshift Go 2.0, a payments product offering that increases visibility into employee spending.
  • Gusto partners with Accelo to sync time-off requests from Gusto to Accelo’s real-time scheduling and resource management module.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Capital Bank of Jordan Selects Backbase for Digital Transformation

Capital Bank of Jordan has signed for Backbase’s digital channels platform, reports Martin Whybrow of Fintech Futures (Finovate’s sister publication).

The Dutch supplier’s solution will cover both customer and employee digital channels across institutional and retail banking.

A key stated aim is faster time-to-market for new products. Capital Bank has signed for the full product stack based around Backbase CXS 6, which is the latest version, launched at the end of 2017, and comes with identity and access management capabilities. The deal includes the Backbase Entitlements component and DBS digital banking back-end services.

Implementation will be carried out by Backbase and one of its partners, Lisbon-based Bring Global. The system will be deployed on the cloud and will integrate with the bank’s core system and other applications. The bank is a long-standing user of TemenosT24, which has its own digital channel offering.

Capital Bank’s CEO, Ala Qumsieh, describes Backbase as “an ideal long-term strategic partner” for the bank’s digital transformation.

Backbase has a reasonable number of Middle East users. An addition last year, Lebanon-based Société Générale de Banque au Liban (SGBL), included plans for a roll-out in Jordan.

At FinovateEurope 2018, Backbase unveiled the Customer OS in a demo that won the Amsterdam-based company Best of Show honors for the fourth time. Last July, the company teamed up with Jumio to deliver online ID verification services and in December the company partnered with Polish bank BGŻ BNP Paribas Bank.

Finovate Alumni News

On Finovate.com

  • Capital Bank of Jordan Selects Backbase for Digital Transformation.
  • StockTwits Launches Free Online Trading.

Around the web

  • Validis’ DataShare to integrate with Baker Hill NextGen.
  • Insuritas partners with Nymeo FCU to launch digital insurance agency.
  • SGX orders Ayondo to shelve planned disposal of unit.
  • TechCrunch reports: Coinbase launches in 11 countries with crypto-to-crypto conversions.
  • Jack Henry & Associates recognized on Forbes’ America’s Best Employers List for third consecutive year.
  • Flywire integrates with TRUE North to connect the application, enrollment and cross-border payment and receivables processes to bring transparency to education payments.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Global: Fintech News from Around the World

As Finovate goes increasingly global, so does our coverage of financial technology. Finovate Global: Fintech News from Around the World is our weekly look at fintech innovation in developing economies in Asia, Africa, the Middle East, Latin America, and Central and Eastern Europe.

Latin America and the Caribbean

  • Brazil’s Nubank announces debit options for its digital savings account.
  • Infocorp spinoff Bankingly raises $5.25 million in Series A funding in round led by Elevar Equity.
  • Vocalink to modernize Peru’s electronic payments infrastructure courtesy of new deal with the company’s automated clearinghouse, Cámara de Compensación Electrónica (CCE).

Asia-Pacific

  • UNPay expands QR code payments.
  • Indonesian lending and payments firm, Pohon Dana, picks up investment from Mayapada Group.
  • PaySend launches transfers to bank accounts and Napas cards in Vietnam.
  • Fenergo wins Fintech Exporter of the Year award from Asia Matters.
  • Juvo expands across Asia with regional headquarters in Singapore.

Sub-Saharan Africa

  • Experian purchases South African credit information and analytics firm Compuscan for $263 million.
  • Ecobank partners with MFS Africa to offer cross-platform digital payments to customers.
  • Emergent Technology acquires Ghana-based Interpay Africa.

Central and Eastern Europe

  • Sberbank offers clients new strategies for investment life insurance.
  • Finastra opens new offices in Romania.
  • Backbase powers omni-channel digital services for Poland’s BGŻ BNP Paribas bank.
  • International Bank of Azerbaijan (IBA) to deploy technology from FICO to fight money laundering.

Middle East and Northern Africa

  • UAE and Saudi Arabia launch blockchain-powered, cross-border payments proof of concept.
  • Temenos announces partnership with Tunisia’s Banque de l’Habitat.
  • Token brings open banking to MENA region.

Central and South Asia

  • James Finance, Ocrolus, Hydrogen, and iProov shortlisted for India FinTech Awards 2018.
  • Currencies Direct taps Ripple’s xCurrent for real-time remittances to India.
  • Fintech News Singapore features BankBazaar in its round up of 10 Hot Fintech Startups from India to Watch Closely.

Top image designed by Freepik

Backbase Powers OmniChannel Digital Services for BGŻ BNP Paribas Bank

BGŻ BNP Paribas Bank, the Polish bank, is going omnichannel with Backbase, as is it aims to enhance its digital services and ability to link up with fintechs, reports Henry Vilar of Finovate’s sister publication, Fintech Futures.

The Backbase Omni-Channel Banking Platform introduced a new digital platform that aims to encourage the use of agile project management in the bank. BGŻ BNP Paribas’ Fast Forward strategy has focused on digitization as it looks to be more agile and more able to quickly respond to market changes. Having grown from a series of mergers, the bank had previously inherited various legacy systems – thus requiring to up its game in terms of flexibility and agility.

“Cooperation with Backbase is a natural consequence of the requirements of our transformation program. Our new strategy is based on five core pillars: simplicity, digitization, quality, growth, and enthusiasm,” said Piotr Marciniak, head of digital and mobile of Bank BGŻ BNP Paribas.

Initially, internet banking will be moved over to the new platform, but plans are to move to a single architecture, and implement Backbase mobile as part of this. BGŻ BNP Paribas Bank is also changing the way it develops and runs projects, with a heavy emphasis on fintechs, digital, and continuous integration continuous development (CICD).

“BGŻ BNP Paribas Bank emphasizes cooperation with sought-after fintechs. We constantly seek out the best, most innovative projects to support our operations, and are glad to implement some of their ideas in our bank,” added Marciniak.

At FinovateEurope earlier this year, Backbase unveiled the Customer OS in a demo that won the Amsterdam-based company Best of Show honors for the fourth time. In July, the company teamed up with Jumio to deliver online ID verification services.