Backbase, the Engagement Banking leader, is bringing additional convenience to bank customers and credit union members with features from the Entrust Digital Card Solution.
Leveraging push provisioning from Entrust, Backbase now “enables end customers to securely add their payment cards to third-party wallets like Apple Pay or Google Pay.”
The “add card to wallet” capability “simplifies provisioning and activating cards for digital wallets with a push of a button.” Authentication takes place “within the banking app, where the customer is already verified, eliminating the need for additional authentication steps required by third-party wallets and merchants.”
Backbase end customers are also “empowered to self-manage their cards, reducing the dependence on the branch and helpdesk, and thereby customer service costs.”
At the same time, the simple and quick wallet provisioning “can positively impact spending by customers.”
Entrust and Backbase will “continue to deliver more innovative features to Backbase customers, including later this year the partnership will launch additional new card features, e.g. the secure display of sensitive card information like the card number, expiry date, or cryptogram in the bank app and the ability to view and change the PIN in the banking app.”
This new technology partnership with Entrust “continues Backbase’s investment in its Fintech-as-a-Service (FaaS) offering.”
FaaS is part of “the broader Ecosystems business unit that is accelerating value for financial institutions and their customers by collaborating with best-in-class fintech and technology partners.” This partnership expands “the wide array of capabilities embedded in the Backbase Engagement Banking Platform.”
Roland Booijen, Backbase’s General Manager for Ecosystems, said:
“Backbase is laser-focused on reducing our customers’ time-to-market and time-to-value. Entrust’s deep sector expertise in digital card solutions and global presence means we can offer our customers and prospects the innovative banking experiences their customers have come to expect.”
Tony Ball, Senior Vice President and General Manager, Instant Issuance at Entrust, said:
“Customers are looking for financial institutions to make the digital-first payment experience easier and more secure. Backbase customers who use the Entrust ‘add card to wallet’ feature enhance their offerings with one of the most complete digital card solutions on the market. With our digital card expertise, connections to multiple processors, and the pre-integration of the Entrust Digital Card Solution within the Backbase platform, issuers can benefit from an even more simplified integration, delivering accelerated time to market. This brings more control and payment options to cardholders, while helping to drive increased card usage for banks.”
As noted in the update, Backbase is on a mission “to re-architect banking around the customer.”
Backbase created the Backbase Engagement Banking Platform – “a unified platform with the customer at the center, empowering banks to accelerate their digital transformation.”
From customer onboarding, to servicing, loyalty and loan origination, their single platform — open and frictionless, with ready-to-go apps — “improves every aspect of the customer experience.”
Built from the ground up with the customer at the heart, their Engagement Banking Platform easily plugs “into existing core banking systems and comes pre-integrated with the latest fintechs so financial institutions can innovate at scale.”
Industry analysts Gartner, Omdia and IDC continuously “recognize Backbase’s category leadership position.”
Over 150 financials around the world have “embraced the Backbase Engagement Banking Platform – including Advanzia, Banco Caja Social, Banco de la Nacion Peru, Bank of the Philippine Islands, Citizens Bank, Greater Bank, HDFC, Judo Bank, KeyBank, National Bank of Bahrain, Natwest, Raiffeisen, Standard Bank, Société Générale, and TPBank.”
Backbase is a private fintech company, “founded in 2003 in Amsterdam (global HQ), with regional offices in Atlanta (Americas HQ), New York, Boise, Mexico City, Toronto, London, Cardiff, Dubai, Kraków, Singapore (Asia HQ), Hyderabad, and Sydney.”