How they describe themselves: Backbase’s core product is the Bank 2.0 Portal, which is designed for the financial industry. This unique software fosters customer communities, increases brand loyalty, drives self-service, and fuels revenues. Its efficiency enables companies to create high-quality portals without the usual high IT costs for development and maintenance. With Backbase Bank 2.0 Portal you can manage both traditional web, as well as mobile-optimized portals, from a single platform. Backbase helps financials to upgrade outdated portals without replacing the underlying banking and transaction systems. Global 2000 enterprises such as ABN Amro, AIG, Barclays, Bank of America, BT, General Motors, ING, KPN, Motorola, NXP, Philips, Vanguard, Visa and Ziggo, use Backbase technology to create personalized experiences for their customers. A pioneer in the industry, Backbase was founded in 2003 and is privately funded with operations in New York and Amsterdam.
How they describe their product/innovation: The App Store is one of the key innovations within Backbase Portal Manager, which is the dashboard that helps e-business professionals optimize their Bank 2.0 Portal. App Store brings together best-of-breed functional modules (e.g. PFM, Chat, Content and Data feeds, andTransactional Systems) that can easily be added to your Bank 2.0 Portal. The App Store is populated with functionality provided by Backbase, the financial provider (their existing banking apps) and third-party software and data vendors in the financial services industry.
In today’s Web 2.0 world, banks need to offer a superior online customer experience that goes way beyond offering only online transaction capability. In order to be customer centric and optimize the online customer journey, financial services firms need to be able to create the right blend of functionality and content that serves their customer in a more personal way. Think PFM, interactive calculators and simulation tools, personal inbox and targeted advice.