Backbase

Last updated
Backbase BV
Company typeBesloten vennootschap
IndustryFinancial technology
Founded2003
FounderJouk Pleiter
Gerbert Kaandorp
HeadquartersAmsterdam
Number of locations
Amsterdam, Atlanta, New York, Boise, Mexico City, Toronto, London, Cardiff, Dubai, Krakow, Singapore, Sydney, Tokyo, Hyderabad
Number of employees
2200
Website backbase.com

Backbase is a Dutch banking technology financial technology company that provides engagement banking[ clarification needed ] for financial institutions globally from large banks to credit unions and community banks. Backbase provides retail banking, business banking and wealth management.

History

Backbase was founded in 2003 in Amsterdam by Jouk Pleiter and Gerbert Kaandorp. The company originally produced an AJAX framework, based on HTML, JavaScript and CSS. This eventually took the form of the Backbase Customer Experience Portal [1] Backbase originally sold to a wide range of internet-facing businesses, including financial services, but in 2013, Pleiter pivoted the company to focus solely on financial services. [2] In 2017, Pleiter's work at Backbase was recognized with the LOEY Award, the prize for the best online entrepreneur in the Netherlands. [3]

The business expanded globally [4] in the following years, with offices in several countries. Backbase employs around 2000 staff globally.

In 2021, Backbase announced a strategic partnership with Microsoft, [5] which sees Backbase's Engagement Banking Platform serving in the engagement layer within Microsoft Cloud for Financial Services.

In June 2022, Backbase received investment of €120 million from US-base private equity firm, Motive Partners, giving Backbase a valuation of €2.5 billion. [6]

Related Research Articles

<span class="mw-page-title-main">ING Group</span> Dutch multinational banking and financial services corporation

The ING Group is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services. With total assets of US$967.8 billion, it is one of the biggest banks in the world, and consistently ranks among the largest banks globally.

<span class="mw-page-title-main">Houlihan Lokey</span> American investment bank and financial services company

Houlihan Lokey, Inc., is an American multinational independent investment bank and financial services company. Houlihan Lokey was founded in 1972 and is headquartered at Constellation Place in Century City, Los Angeles, California. The firm advises large public and closely held companies as well as institutions and governments. Its main service lines include mergers and acquisitions, capital markets, restructuring and distressed M&A, fairness opinions, and financial and valuation advisory. As of December 2023, Houlihan Lokey employs more than 2,600 employees worldwide.

<span class="mw-page-title-main">Adyen</span> Dutch financial services company

Adyen is a Dutch payment company with the status of an acquiring bank that allows businesses to accept e-commerce, mobile, and point-of-sale payments. It is listed on the stock exchange Euronext Amsterdam.

<span class="mw-page-title-main">Van Lanschot Kempen</span>

Van Lanschot Kempen N.V. is a specialised, independent wealth manager that provides private banking, investment management and investment banking services to wealthy individuals and institutions. It is headquartered in 's-Hertogenbosch, the Netherlands. With a history dating back to 1737, it is the oldest independent financial institution in the Netherlands and the Benelux and one of the oldest independent financial institutions in the world.

<span class="mw-page-title-main">Automation Anywhere</span> Software company

Automation Anywhere is an American global software company that develops robotic process automation (RPA) software.

<span class="mw-page-title-main">Lincoln International</span> Multinational financial services company

Lincoln International LLC is a multinational independent investment bank and financial services company specializing in advisory services and financings on middle market transactions. The firm works with publicly traded and privately owned companies, financial sponsors, and lenders. The firm provides advisory services including mergers & acquisitions, capital advisory consisting of growth equity, debt and restructuring advisory, valuations and opinions, private funds advisory and joint ventures & partnering. The firm completed more than 400 advisory assignments globally in 2021, as well as over 10,000 debt and equity valuations.

<span class="mw-page-title-main">Stripe, Inc.</span> Irish-American payment technology company

Stripe, Inc. is an Irish-American multinational financial services and software as a service (SaaS) company dual-headquartered in South San Francisco, California, United States and Dublin, Ireland. The company primarily offers payment-processing software and application programming interfaces for e-commerce websites and mobile applications.

<span class="mw-page-title-main">GreenButton</span> Defunct New Zealand-based software firm

GreenButton was a software company based in New Zealand, specializing in facilitating the transition of independent software vendors (ISVs) and enterprises to cloud computing. Established in 2006 and headquartered in Wellington, New Zealand, GreenButton also operated additional offices in Palo Alto, California, and Seattle. On 2 May 2014, the company was acquired by Microsoft. Following the acquisition, GreenButton's technologies were incorporated into Microsoft's Azure cloud service.

Pricing Partners, founded in 2005, is a Thomson Reuters company that is both a financial software editor and a valuation service company. It is headquartered in Paris with offices in Paris, London and Hong Kong. The company provides pricing models, analytics and independent valuation for the financial services market. The company has been identified by Microsoft France as one of the promising French startups that uses Microsoft technologies for its software development. The coverage of its financial library is on all major asset classes. This encompasses derivatives on asset classes like interest rates, credit, equity, inflation, foreign exchange, commodity, life insurance and hybrids. Since 2012, it also provides independent calculation and valuation on proprietary algorithmic indexes.

Revolut is a global neobank and financial technology company that offers banking services for retail customers and businesses. Headquartered in London, it was founded in 2015 by Nikolay Storonsky and Vlad Yatsenko. It offers products including banking services, currency exchange, debit and credit cards virtual cards, Apple Pay, interest-bearing "vaults", personal loans and BNPL, stock trading, crypto, commodities, human resources and other services.

Consensys is a private blockchain software technology company founded by Joseph Lubin and based in Fort Worth.

Gupshup is an American messaging platform for businesses to communicate in. With primary operations in India, United States, Europe, Latin America, Africa, Middle East and South East Asia, it is owned and operated by Webaroo Inc.

Ohpen is a Dutch financial technology company that built the first core-banking platform in the cloud. Ohpen is a platform for mortgage/consumer lending origination and the administration of savings-, investment- and mortgage products. The company provides a cloud-based alternative for financial institutions such as banks, mortgage lenders, building societies and pension funds to legacy systems and processes. More than 300 people work at the company's Amsterdam headquarters and its offices in Antwerp, London, Barcelona, Bratislava and Zilina.

<span class="mw-page-title-main">Solaris (credit institution)</span> German banking-as-a-service credit institution

Solaris SE is a credit institution licensed in Germany, with headquarters in Berlin and branches in London, Paris, Milan, Madrid and Vilnius.

Personetics Technologies is a financial technology (fintech) software company headquartered in Tel Aviv, Israel. The company's product uses artificial intelligence to analyze bank's customer transaction data in real-time and use this analysis to deliver financial management information.

Chime Financial, Inc. is a San Francisco–based financial technology company that partners with regional banks to provide certain fee-free mobile banking services. The company offers early access to paychecks, negative account balances without overdraft fees, high-yield savings accounts, peer-to-peer payments, and an interest-free secured credit card. Chime earns the majority of its revenue from the collection of interchange fees on debit card transactions.

Current is a New York City-based financial services and software development company (FinTech). It provides mobile banking services through its partner bank, Choice Financial Group, Member FDIC.

bunq International fintech company

bunq B.V. is a Dutch fintech and neobank licensed in the Netherlands within the European Union and operating in 30 European countries. It was founded in Amsterdam where its headquarters are currently located.

Airwallex is a multinational financial technology company offering financial services and software as a service (SaaS). Founded in 2015 in Melbourne, Australia and currently based in Singapore, the company is a financial technology platform providing cross-border payments and financial services to businesses through a proprietary banking network and its API. It also provides services and products such as business accounts, expense cards, and payroll, among others. It was Australia's third technology unicorn company overall. With a valuation of US$5.5 billion, as of 2022, the company processed $50 billion in annualized transactions.

Thought Machine is a London-based cloud banking technology company that was founded in 2014 by Paul Taylor. It operates in the United Kingdom, Singapore, the United States, and Australia.

References

  1. Pleiter, Jouk. "Five Major Trends in Next Generation Portals". CMS Wire. Retrieved 11 May 2022.
  2. "Backbase moet bankieren leuk, makkelijk en intuïtief maken". FD.nl (in Dutch). Retrieved 2022-05-11.
  3. "Jouk Pleiter (Backbase) winnaar LOEY Award". Emerce (in Dutch). Retrieved 2022-05-11.
  4. "Nederlands fintechbedrijf Backbase groeit in VS met binnenhalen Goldman Sachs". FD.nl (in Dutch). Retrieved 2022-05-11.
  5. "Backbase partners with Microsoft". thepaypers.com. Retrieved 2022-05-11.
  6. "Backbase raises its first funding, $128M at a $2.6B valuation, for tools that help banks with engagement". TechCrunch. Retrieved 2022-06-10.