back Back

Navy Federal Credit Union expands partnership with Backbase

By Gloria Methri

April 12, 2024

  • Backbase
  • Core Banking Modernization
  • credit union
Share

Backbase, the Engagement Banking Platform provider, has expanded its partnership with Navy Federal Credit Union, which serves U.S. veterans, retired service members, active duty military personnel in all branches, and their family members.

Navy Federal Credit Union has signed a multi-year agreement to continue standardizing Backbase as its engagement layer of choice. This renewal positions Backbase as a platform for member—and employee-facing applications, ensuring a seamless banking experience across multiple channels.

By adopting the Backbase platform, Navy Federal Credit Union will achieve:

  • Modernization and simplification of the credit union’s existing IT landscape by reducing the number of siloed channel applications.
  • One unified platform, consolidating data, business logic, and workflows into a single, member-centric platform for efficient journey orchestration, benefiting both members and employees.
  • Agility and freedom, enhancing flexibility to implement business capabilities and adapt to evolving market dynamics swiftly.

“We are continuously looking for ways to enable our digital transformation,” said Kathy Ward, SVP Digital of Navy Federal Credit Union. “Collaborating with strategic partners like Backbase has been instrumental to our goal of simplifying and enhancing member experiences by utilizing a single platform across digital interactions.”

“With this partnership renewal, we’re excited to reaffirm our mutual commitment to revolutionizing digital experiences for Navy Federal Credit Union’s members and employees,” said Jouk Pleiter, CEO of Backbase.

“Our decision to extend the partnership was driven by Backbase’s comprehensive engagement platform, which allows us to innovate truly,” said Ward.

Backbase is a composable platform that empowers banks to accelerate their digital transformation by progressively modernizing their main customer journeys. From onboarding to servicing, lending and investing, our platform streamlines every aspect of the customer and employee journey. Pre-integrated with leading core systems and cutting-edge FinTechs, it enables institutions to unlock innovation at scale, driving instant value creation.

The partnership between Backbase and the credit union emphasizes the importance of long-term, strategic investments in technology to create true value and move away from legacy systems that hinder speed and innovation.

Previous Article

April 12, 2024

SC Ventures & NEXT176 partner to launch financial wealth platform

Read More
Next Article

April 15, 2024

Verituity partners with Mastercard to enhance cross-border payouts

Read More








IBSi Daily News Analysis

Complaints Fraud

May 22, 2024

Backbase

UK SMEs lack fraud protection, facing significant financial risks, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 22, 2024

Euronet expands Debit Card Management and ATM Driving Services for JS Bank

Read More

May 22, 2024

Kuwait’s Burgan Bank signs core banking deal with TCS BaNCS

Read More

May 22, 2024

4 Lending platforms facilitating easy access to funds in India

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023