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Backbase joins FrankieOne to provide digital onboarding solutions in Australia

By Gloria Mathias

September 25, 2023

  • Anti-Money Laundering (AML)
  • APAC Fintech news
  • APAC news
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Backbase, Furness Building Society, Engagement Banking Platform, Digital Savings Platform, FBS, FinTech, UK, FrankieOne, Australia, Melbourne, Identification, Verification, Homegrown FinTechBackbase, the global leader in Engagement Banking, has announced its partnership with FrankieOne, an Australian home-grown and industry identity verification and fraud prevention platform provider with a strong track record in the banking industry.

The alliance will enable Australian and New Zealand (ANZ) banks and credit unions to onboard customers and members seamlessly, combining Backbase’s personalised banking experience platform with FrankieOne’s robust identity verification solutions, making it easier than ever for end customers to securely access digital financial services.

Partnering with FrankieOne allows Backbase’s Engagement Banking Platform to access a breadth of Know-Your-Customer (KYC), Anti-Money Laundering (AML), biometric verification, transaction monitoring, fraud detection and compliance capabilities from a curated selection of local and international providers.

This partnership will provide local financial institutions with enhanced trust during customer-led, seamless onboarding journeys. The net result for the local banking industry is higher customer loyalty, combined with a simplification of compliance requirements.

Elliott Haralambous, Director of Partnerships and alliances at Backbase said, “As pioneers in the digital banking space, we are thrilled to partner with FrankieOne to bring a new level of innovation to the ANZ banking sector. This collaboration enables us to offer seamless digital experiences while maintaining the highest standards of security and compliance.”

“This partnership reinforces Backbase’s global commitment to enhancing our offering and meeting the needs of financial institutions across the region. These partnerships allow us to accelerate the integration of best-in-class capabilities into the Backbase Engagement Banking Platform,” explained Mayank Somaiya, Director and global Head of Fintech-As-a-Service, Backbase.

Ashleigh McManus, Global Head of Partnerships at FrankieOne, said “FrankieOne and Backbase are united by a common goal – to transform consumer banking experiences in Australia and New Zealand. Our collaboration combines the strength of identity verification and engagement banking, offering financial institutions a powerful toolkit for success. This partnership underscores our unwavering commitment to the evolving needs of banks and credit unions in Australia and New Zealand and empowers financial institutions to deliver secure, efficient, and customer-centric banking experiences”.

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