Texas-based Vantage Bank has reportedly chosen Netherlands-based Backbase and its online banking platform to consolidate the institution’s services that it offers to clients.
Jouk Pleiter, CEO at Backbase, noted that the partnership is “particularly exciting.”
Established in 1923 as San Antonio National Bank, Vantage merged with Inter National Bank in 2018. The bank has also expanded its operations into the North Texas area. Vantage’s management said that they decided to work with Backbase in order to unify their business lines.
Jeff Sinnott, senior executive VP at Vantage, stated:
“After an expansive assessment of the options available to us to help us become the remarkable community bank we seek to achieve, we concluded that Backbase unquestionably checks all the boxes.”
“The needs and preferences of each of our customer segments must always be front of mind. With Backbase, we now have significantly more control over our customers’ digital experiences.”
“[Vantage Bank’s] requirements were so specific against the backdrop of the recent growth and expansion of their footprint, and their customer-focused company vision.”
Pleiter also mentioned:
“It speaks volumes that Vantage opted for our flexible platform – our solution is not just for big banks, but can be implemented with a bank of any size.”
This is notably the second US partnership the Backbase team has secured in 2020, after the company signed up Minnesota’s Bremer Bank last month.
Backbase has also launched a new Onboarding and Origination platform, which aims to reduce customer onboarding times by around 80% while enhancing operational efficiencies by 30%.
Backbase’s solution is ideal for retail clients, small and medium-sized enterprises (SMEs), business and corporate banking customers, and for wealth management. The software has also been created to help traditional banks in competing with all-digital challengers in customer acquisition.