Backbase and Envestnet | Yodlee partner to deliver leading data aggregation capabilities
25 OCTOBER 2016, AMSTERDAM, THE NETHERLANDS
SummaryEnvestnet | Yodlee (NYSE: ENV), a leading data aggregation and data analytics platform powering dynamic, cloud-based innovation for digital financial services, and Backbase, the omni-channel digital banking platform leader, are partnering via the Backbase Open Banking Marketplace. Envestnet | Yodlee’s data aggregation is now available to integrate within the Backbase platform.
The two companies are extending their existing relationship with this collaboration through the Open Banking Marketplace, and Backbase is now providing its customers with integrations to the data aggregation platform of Envestnet | Yodlee. The Open Banking Marketplace is a Backbase initiative that offers clients the option of selecting from numerous best-of-breed applications to integrate into the Backbase digital banking environment.
Envestnet | Yodlee offers a state-of-the-art data aggregation platform with an intelligent categorization engine that supports a wide range of business processes such as Know Your Customer, Cash Management, Budgeting and a simple overview of multiple accounts from different financial institutions. The platform also helps to achieve compliance with payment services directive (PSD2) regulations, and offers bank-level security, ensuring that user data is safe.
“Envestnet | Yodlee is proud to be extending its relationship with a company as innovative as Backbase,” said Jason O’Shaughnessy, Senior Vice President, EMEA and Australia, Envestnet | Yodlee. “As a world leader in account aggregation, Envestnet | Yodlee works with over 550 financial institutions in over 15 countries, to provide a data aggregation platform that combines best-in-class capabilities with the highest bank-level security. Through integrating the Envestnet | Yodlee platform into the Open Banking Marketplace, we can ensure customers have access to the information needed to improve their financial wellness.”
Jouk Pleiter, CEO and co-founder of Backbase, said: “In today’s world, reliable customer data and user experience are of extreme importance to gain or retain customers. With companies like Envestnet | Yodlee on our Open Banking Marketplace, banks are able to give banking clients the user experience they deserve. For example, showing all their bank accounts in one overview, or comparing financial products based on spending behaviour.”
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Backbase is a fast growing fintech software provider that empowers financial institutions to accelerate their digital transformation and effectively compete in a digital-first world.
We are the creators of the Backbase Omni-Channel Banking Platform, a state-of-the-art digital banking software solution that unifies data and functionality from traditional core systems and new fintech players into a seamless digital customer experience. We give financials the speed and flexibility to create and manage seamless customer experiences across any device, and deliver measurable business results. We believe that superior digital experiences are essential to stay relevant, and our software enables financials to rapidly grow their digital business.
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. Our customer base includes Al Rajhi Bank, ABN AMRO, Barclays, CheBanca!, Credit Suisse, Fidelity, Hapoalim, HDFC, Hiscox, ING, KeyBank, Legal & General, NBAD, OTP, PZU, PostFinance, Societe Generale de Banque au Liban and Westpac.
Industry analysts Gartner, Forrester and Ovum recognize Backbase as an industry leader in terms of omni-channel banking platform capabilities, and award the company high marks for its deep focus on customer experience management and unparalleled speed of implementation. Forrester named us a leader in the Forrester Wave for Omni-Channel Banking.
Backbase was founded in 2003, is privately funded, with headquarters in Amsterdam (HQ Global) and Atlanta (HQ Americas) and regional operations in London, Mumbai and Singapore.