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Backbase opens its new APAC headquarters in Singapore

BackbaseAmsterdam-based digital banking software provider Backbase launched its new regional headquarters in Singapore to strengthen its footprint and provide services to businesses in Asia Pacific (APAC). The office positions the company amongst a tight-knit community of FinTech companies with a rising demand for solutions.

Demand from consumers and SMEs for FinTech solutions is increasing too as these segments have been underserved by traditional banking solutions. The financial regulator of the island-nation has been working towards boosting the FinTech space in the nation. In June 2019, the Monetary Authority of Singapore (MAS) had invited applications for the issuance of two digital full bank licences and three digital wholesale bank licences to encourage service for underserved sections of the market.

Jouk Pleiter, CEO, Backbase enunciated, “We’re excited to join the fintech ecosystem in APAC, building momentum for the exciting work we’re doing. But most importantly, our new APAC office brings us so much closer with our customers in the region. We already have a dozen very strategic customers in the APAC region, and together with them we are rapidly expanding our regional development centers – recruiting and onboarding digital talent to help us execute multiple strategic digital transformation projects in the region.”

The FinTech software provider had recently announced its next generation Backbase-as-a-Service, a managed cloud platform service that covers its entire portfolio of banking products. The platform is available worldwide to support banks and neo-banks in keeping pace, and helping businesses to innovate with speed whilst reducing their costly operational hurdles.

Pleiter further expounded, “Digital disruption is occurring at every level in the banking industry. Banks and neo-banks must now think in new and innovative ways, or risk becoming a mere back-office utility. The launch of the new Backbase-as-a-Service and APAC office reiterates our commitment to work closely with companies to address digital disruption and implement digital transformation that enables them to be relevant at all times, with consistent and fulfilling customer experiences in both the digital and physical spaces.”

Earlier in January, global IT and telecommunication services provide Orange inaugurated the Orange Middle East and Africa operational head office in Casablanca. The multi-services operator and partner in digital transformation will support the development of new digital services in the region. Its e-wallet service Orange Money was launched in the same month in Jordan where the company had recently acquired the e-payment license from the country’s central bank.

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