Days away from Finovate’s first conference in the Middle East, we learn that one of our most popular alums (as judged by Best of Show awards) is supporting digitization and modernization for one of the leading banks in Lebanon and the Levant: Backbase has partnered with Société Générale de Banque au Liban (SGBL) to help the banking group replace their legacy technology with Backbase’s omni-channel digital banking platform.

“We are delighted to have been chosen by SGBL and to play a role in the transformation of their digital banking landscape,” Backbase CEO Jouk Pleiter said. “This expansive, customer-focused transformation brings SGBL into the same playing field as the fintechs, or even beyond.” Highlighting the ability of the platform to serve both its retail and corporate clients, Antoun Sehnaoui, Chairman and CEO of SGBL said the partnership would help the firm maintain its commitment to providing its customers with financial technology that is innovative and secure “to help keep them moving forward with confidence.”

The new platform from Backbase features easy-to-use environments, real time transactions, an enhanced user experience, faster time to market, increased security with multi-factor authentication, online client origination, and 24/7 banking services across branches and channels. The technology has already begun its rollout in Lebanon, with internet and mobile banking features going live in December. A broader regional rollout to Jordan, Cyprus, and the UAE is planned.

SGBL’s decision to deploy Backbase’s technology is timely. The company released version 6 of its digital banking platform late last year, bringing customers what VP of Product Management Jelmer de Jong referred to as “an API architecture ready for the Open Banking and PSD2 future.” The Amsterdam, Netherlands-based company and multiple-time Best of Show winner went live with French, mobile-only bank Orange Bank last fall, and was named Growth Partner of the Year by Capgemini. Most recently demonstrating its technology at FinovateEurope 2017 last February, Backbase was founded in 2003.

Just in time for the holidays, Backbase has released version 6 of its next generation digital banking platform. The enhancements include a cloud native architecture, digital banking accelerators, a new digital banking backend, a new entitlements product line, and what Backbase VP of Product Management Jelmer de Jong called “an API architecture ready for the Open Banking and PSD2 future.”

“Backbase continues to lead the digital banking revolution, driving modernization and innovation to accelerate digital transformation in all key banking segments,” he said. The company made the announcement at its annual customer conference, Backbase Connect last month.

Above: Backbase Global Head of Solutions Engineering Tim Rutten (left) and CEO and founder Jouk Pleiter (right) demonstrating Your Everyday Bank at FinovateEurope 2017.

The release of Backbase 6 is the result of two years of collaboration and beta testing with the company and its customers and partners. Among the major new features of Backbase 6 are:

• Ready-to-go Banking
• Digital Banking Services
• Backbase Entitlements
• Dynamics Forms / Dynamic Case Management
• Experience Manager
• Cloud Native Architecture
• PSD2 and Open Banking-Ready APIs
• Comprehensive SDKs

During his Backbase Connect presentation, de Jong highlighted a number of Backbase 6 features, including retargeting, which enables FIs to use offline resources in a customer database to engage clients with more targeted offers and services. “These capabilities enable banks and credit unions across the globe to reach their full digital potential anytime, anywhere, on any device,” de Jong said. The platform has been available to Backbase customers since late November, and customers can determine when and how to adopt and upgrade their systems on their own schedule.

Founded in 2003 and headquartered in Amsterdam, The Netherlands, Backbase demonstrated its Everyday Bank concept, in which banks and other FIs can remove friction from low-value interactions and transactions and “amplify” higher-value ones. A multiple-time Best of Show winner, Backbase announced last month that France’s mobile-only Orange Bank had gone live with Backbase’s Omnichannel Banking platform. Earlier this year, the company partnered with fellow Finovate alum eWise, bringing account aggregation to Backbase clients via its Open Banking Marketplace.

France’s latest mobile-only bank, Orange Bank, has gone live on Backbase’s Omnichannel Banking Platform, reports Antony Peyton of Banking Technology (Finovate’s sister publication).

Backbase said Orange is the only French bank to offer for free a service that provides real-time balances, mobile payments, and a virtual adviser that is available 24 hours a day, seven days a week.

Orange Bank was finally launched on 2 November after considerable delays.

Backbase CEO Jouk Pleiter demonstrating Your Everyday Bank at FinovateEurope 2017.

As Banking Technology reported in January 2016, Orange outlined its plans for a new bank. In April 2016, Orange made a significant stride in its mobile banking ambitions by acquiring a majority stake in financial services firm Groupama. At present, Orange owns 65% of the capital of Orange Bank and Groupama 35%.

However, there was a hitch in June, when Orange put the brakes on its plans after finding the proposition didn’t quite meet the standards.

In October, the drama appeared to be over as a spokesman for Orange said “the commercial launch will take place on 2 November,” confirming an earlier report by French newspaper La Tribune. They weren’t lying as it went live on that date.

In terms of the new bank, customers can subscribe directly from the mobile application, online, or in one of Orange’s 140 certified stores.

Naturally, Orange is looking to attract its 30 million customers in France to its new bank. In fact, it is present in 29 countries, and according to the group has a customer base of 263 million customers worldwide as of 31 December 2016, including 202 million mobile customers and 18 million fixed broadband customers.

Earlier this month, Orange Bank said it was getting its mobile payment and banking services underpinned by Wirecard.

The paytech vendor said it is providing “all the technical components integrated into the Orange Bank platform to manage their mobile payments”.

Backbase was founded in 2003 and is headquartered in Amsterdam, The Netherlands. The company won a Best of Show award for its demo of Your Everyday Bank at FinovateEurope 2017, which showed how banks can leverage big data and artificial intelligence to create “next-generation customer journeys”. Earlier this year, Backbase partnered with fellow Finovate alum eWise, combining Backbase’s Open Banking Marketplace with eWise’s account aggregation technology.

Named to the European Fintech 100 and noted as a leader in digital banking solutions by Forrester, Backbase announced a partnership with Norway’s SSF Bank in June and a deal to power digital banking for Zensar Technologies in May. Jouk Pleiter is co-founder and CEO.