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Backbase debuts cloud platform for banking innovation

Dutch Backbase has launched its new managed cloud platform Backbase-as-a-Service (BaaS), offering banks access to the provider’s entire portfolio of banking products and innovation tools.

Jouk Pleiter, CEO and Co-Founder of Backbase

Jouk Pleiter, CEO and Co-Founder of Backbase

The digital banking software provider unveiled the product at Backbase Connect, the company’s annual conference in Amsterdam, in November, revealing that the timeframe for digital transformation will be shortened to days, if not weeks.

At present, banks face threats from more technologically capable neo-bank competitors, as well as from the expansion of big tech into banking, meaning agility and fast time to market is key, Backbase said.

The BaaS solution provides financial institutions with the technological infrastructure to develop and release new services at a higher speed, shortening the time dedicated to set-up, updates and security. This allows banks to focus on innovating and enhancing the overall experience for customers.

Jouk Pleiter, CEO and Co-Founder of Backbase, told IBS Intelligence: “We’ve been talking for ages about disruption and new players coming to the market. But more and more it is happening for real. And it’s accelerating and accumulating with a tidal wave of stuff that’s now coming your way.”

Pleiter believes the move to cloud is an unstoppable one, and one which every financial institution needs to embrace.

“Our clients want the freedom to innovate and maintain their competitive edge, so launching Backbase-as-a-Service is the logical step for us. It is our duty to maximise their ROI when it comes to becoming digital-first and meeting the digital demands of their customers. Cloud is an exceptional tool for taking that leap,” he said.

The platform, which is immediately available worldwide, offers managed software and hardware updates, over 99.9 per cent uptime, shared or dedicated Backbase environment, multiple sandbox environments, database backups and redundancy, scalable infrastructure, end-to-end encryption and regulatory compliance.

Thomas Fuss, VP Technology, added: “The improved service will significantly benefit banks both in terms of reducing overhead on IT and delivering superior digital banking experiences to their clients. It’s another step forward in helping clients unlock their digital potential.

“Undertaking the transition to the Backbase cloud means our clients are always tapping into the latest innovations and features that our platform offers. Cloud adoption has been relatively slow in banking so we’re proud to provide clients with a state-of-the-art managed service which is always available, always secure and always packed with the latest innovations.”

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