Backbase and Entersekt partner for digital banking authentication
Digital banking software specialist Backbase has teamed with Entersekt to use its authentication capabilities on the Backbase Open Banking Marketplace.
Backbase will offer banks push-based authentication and transaction signing integrated in its omni-channel digital banking platform. Its clients can select the authentication solution that “best meets their needs”.
Dewald Nolte, Entersekt’s SVP partners and alliances, says with the partnership they can “help banks fast track their future by enabling digital services that would be considered too risky or unfeasible using a channel other than the branch”.
The Backbase Open Banking Marketplace is an online marketplace through which fintech applications can be integrated in a Backbase-powered bank. Entersekt’s technology is “already proven” to work with Backbase software through multiple implementations, including Swisscard in Switzerland.
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. It says more than 70 large financials around the world have standardised on the Backbase platform for digital self-service and online sales operations.
It says its customer base includes Al Rajhi Bank, ABN AMRO, Barclays, CheBanca!, Credit Suisse, Fidelity, Hapoalim, Hiscox, ING, KeyBank, Legal & General, NBAD, OTP, PZU, PostFinance, Societe Generale de Banque au Liban and Westpac.
From India to Kazakhstan
Backbase has also been involved in two recent deals.
IDFC Bank in India is implementing its omnichannel banking platform – with the goal to “quicken response time and improve efficiencies”.
Kazakhstan’s Halyk Bank launched a new digital banking subsidiary, Altyn-i, underpinned by the Backbase omnichannel solution. The latter interfaces to Altyn-i’s core banking system, CBS, from Colvir Software Solutions.