Backbase is a Dutch banking software

financial technology Financial technology (abbreviated as fintech) refers to the application of innovative technologies to products and services in the financial industry. This broad term encompasses a wide array of technological advancements in financial services, ...

company that provides a banking infrastructure software platform that it calls engagement banking. The system is used by financial institutions globally from large banks to credit unions and community banks. Backbase provides retail banking, business banking and wealth management software solutions.

History

Backbase was founded in 2003 in Amsterdam by Jouk Pleiter and Gerbert Kaandorp. The company originally produced an

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framework, based on

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and CSS. This eventually took the form of the Backbase Customer Experience Portal 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. In 2017, Pleiter's work at Backbase was recognized with the LOEY Award, the prize for the best online entrepreneur in the Netherlands. The business expanded globally in the following years, with offices in several countries. Backbase employed around 2,000 staff globally. In 2021, Backbase announced a strategic partnership with

Microsoft Microsoft Corporation is an American multinational corporation and technology company, technology conglomerate headquartered in Redmond, Washington. Founded in 1975, the company became influential in the History of personal computers#The ear ...

, 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 Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the co ...

firm, Motive Partners, giving Backbase a valuation of €2.5 billion.

References

{{reflist Companies based in Amsterdam Companies established in 2003