Backbase Strengths, Domain Expertise, and Key Differentiators
Backbase provides a comprehensive and powerful omni-channel customer engagement orchestration platform to streamline and manage digital customer interactions across all channels. Backbase was selected by SSF for its strong capabilities in omni-channel digital banking and the benefits the ‘Backbase digital banking platform’ provides for banks wanting to gain access to greater agility and control in managing a large portfolio of banking products and services. The first phase is the launch of SFF’s new mobile application (available on iOS and Android) developed by Backbase before further focusing on improving the rest of the bank’s existing banking platforms.
Backbase Recent Developments
In February 2018, Backbase announced oppening of its Cardiff office that will support its aim to be at the forefront of digital banking innovation. Backbase opened its R&D facility in Cardiff creating 24 highly skilled jobs. It is now expanding to create a further 50 new jobs which will be instrumental in targeting the growing digital banking sector. The new team will deliver core software development, software testing and support for clients with the research and development accrued ultimately powering the commercial banking of multiple large financial institutions around the world.
Backbase Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD ask the simple question: Who’s buying Backbase applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Backbase and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Banking-as-a-Service (BaaS), Backbase Cloud customers.
Ownership: - x
Number of Employees: 500
Functional Markets: Customer Relationship Management,
Key Verticals: Banking and Financial Services,
Backbase Key Enterprise and Cloud Applications
Banking-as-a-Service (BaaS), Backbase Cloud
Backbase Revenues, $M:
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|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Backbase Revenue Breakdown By Type, $M:
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Backbase Enterprise Applications Revenues By Functional Markets, $M:
Backbase Enterprise Applications Revenues By Verticals, $M:
Backbase Revenues By Region, $M
|Region||% of Total Revenues||2018 Total Revenues, $M||2018 Enterprise Applications Revenues, $M||2018 Cloud Applications Revenues, $M|
Backbase Direct vs Indirect sales
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Backbase Customers - Breakdown by Geo, Size, Vertical and Product
No. of Backbase Customers: 80
No. of Backbase Enterprise Applications Customers: 80
No. of Backbase Cloud Customers: x
No. of Backbase Cloud Subscribers: x
The unique Backbase approach enables enterprises to drive self-service, fuel online revenues and turn their online channel into a full-service customer experience platform. More than 80 large financials around the world have standardized on the Backbase platform to streamline their digital self-service and online sales operations across all digital touchpoints. Global organizations such as GE, ABN AMRO, AIG, Nationwide, Nordstrom, KPN, Bank of America, Barclays, ING, UBS and Visa have improved their online customer interactions and maximized online customer experience, retention and conversion, by leveraging Backbase’s technology. Most recently BRD Groupe Societe Geneal has entered into a partnership with Backbase. In line with the Backbase direct engagement model, Backbase is jointly realizing the project with BRD, directly delivering on it in conjunction with the bank.
Backbase Market Opportunities, M&A and Geo Expansions
Hot on the heels of their latest customer win in the UK with leading insurance provider Hiscox, Backbase has announced their plans to further expand their operations in the United Kingdom. Backbase, the Customer Experience Platform specialist, has revealed that they will begin an aggressive hiring campaign to find the right candidates for their growing operations in the UK. The innovative software provider, currently employs 150 senior technology and usability experts in their Amsterdam, New York, and Singapore offices. Backbase’s London office is located in the heart of the city’s historical financial district and their UK expansion will create at least a dozen new positions for the vendor to fill.
Backbase Risks and Challenges
Banks should take note that deepening involvement and encouraging growth in the SME sector does not necessarily revolve around extending credit. Many SMEs report that they feel let down by their bank through lack of relationship and business service rather than for financial reasons. Just as there is a shift towards a customer-centric approach in retail banking online, there needs to be a similar push to nurture relationships with SMEs. Banks need to address the issue of how they are serving SMEs on their digital channels. By creating better experiences and offering more tools online, banks will be better able to tailor products and services to specific segments of the SME sector. However, while the digital channel for SMEs remains fragmented, requiring multiple sign-ins, difficult to navigate through and practically devoid of the mobile capabilities so readily available to retail and corporate customers, SMEs are unlikely to move away from branches. Keeping SME interactions chained to branches does nobody any favors. It is far more costly for banks and it limits the amount of services SME customers could be taking advantage of to improve their business operations.
Backbase Ecosystem, Partners, Resellers and SI
Zensar Technologies has collaborated with Backbase. Globally, banks are making the shift to delivering compelling customer experience across multiple channels to customers. This alliance will allow Zensar’s Mobility Services to implement a digital-led customer experience for its banking clients. Zensar will offer this platform to implement Omnichannel workflows to existing and new customers, while working together on joint go-to-market offering and innovative value propositions. This partnership will involve initially projects in the United States and United Kingdom. The highlight of the partnership lies in the benefits available to customers of both companies. Zensar has proven expertise in offering world-class agile and outcome based mobility solutions, and Backbase brings in industry proven customer experience and digital solutions for the banking, financial services and insurance segment. The partnership will bring the much needed business agility as enterprises embark on their digital transformation journey. Stakeholders look for Omnichannel customer interaction ‘anytime, anywhere’, in new and different ways.In May 2017 Backbase made a new partnership.They partenered with eWise international provider of Financial Data Aggregation API and Money Management.The eWise Aegis data aggregation platform is now available to integrate within the Backbase digital banking platform. The new integration will enrich digital banking experiences and help consumers and businesses get a full picture of their financial health.
Backbase Cloud Infrastructure Insights
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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