Backbase Engagement Banking Platform named Luminary in Celent Retail and SME Banking Awards

SINGAPORE - Media OutReach - 1 February 2023 - Backbase, the Engagement Banking platform leader, was recently named a winner of several xCelent Awards in Celent's digital banking-themed reports, covering retail and small business banking internationally. These awards continue the strong recognition Backbase has received from the analyst community and the ability to help customers win in the platform era. Built as one unified platform to engage and orchestrate frictionless experiences across all touchpoints at every stage of the customer lifecycle across retail banking, business banking, digital lending, and wealth management, Backbase has helped 150+ banks and credit unions around the globe re-architect banking around their customers.

Celent's analysts noted Backbase's steady investment in R&D and an increasing number of cloud deployments, which allows financial institutions to achieve their preferred balance between adopting out of the box and building customized journeys. Celent also highlighted Backbase's strong track record of integrating into legacy core systems and overcoming typical bottlenecks and has successfully developed implementation accelerators.

"Business owners and operators require specialized service above and beyond what they are offered by most banks in the region," Iman Ghodosi, Managing Director, ANZ, Backbase said. "As a major driver of economic growth in APAC, small businesses in particular deserve a vastly improved lending experience, and we're delighted that Celent has recognized the massive progress we're making in these areas."

Celent's recognition is based on its ABC methodology which positions and awards vendors across three dimensions: Advanced Technology, Breadth of Functionality, and Customer Base and Support. Backbase was named as a Luminary, receiving xCelent Awards for Advanced Technology and Breadth of Functionality) in four Celent reports, including:

• Retail Digital Banking Platforms: International Edition

• Small Business Digital Banking Platforms: International Edition

In APAC, Backbase has progressively expanded to become the preferred retail banking platform of leading banks, such as Bank of the Philippine Islands, Techcombank and TP Bank in Vietnam andHDFC in India, and the preferred business banking platform for Judo Bank in Australia and Techcombank in Vietnam.

"Backbase has invested more into research and development than our competitors year after year to meet local Asian regulations as well as help our customers provide more innovative banking services and personalized journeys, and we're delighted to see it recognized by Celent," Riddhi Dutta, Regional Vice President, Asia, Backbase, said. "These awards demonstrate our commitment to being our customers' long-term innovation partner."

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