FinDEVr APIntelligence

FinDEVr Silicon ValleyFDNY17_EventLogo_v1(wdate) was a success! Tickets for FinDEVr London and FinDEVr New York are at their lowest prices now. Register today for London or New York to save your spot!

On FinDEVr.com:

The latest from FinDEVr Silicon Valley presenters

  • BBVA chooses Amazon Web Services as its preferred cloud infrastructure services provider.
  • Extended partnership makes Yodlee’s data aggregation available via Backbase’s Open Banking Marketplace.
  • Hyperwallet announces support for real-time, push-to-card payments solution,Visa Direct.
  • Full Envestnet | Yodlee Integration Give Advisors Big Picture View of Client Finances.
  • Modo to give the Bank of America access to its COIN Operated Digital Payments Hub.
  • Expensify launches direct integration with Zenefits.

Alumni updates

  • InComm launches new brand of solutions for cash-based consumers, VanillaDirect.
  • Temenos launches Digital Engagement modules to offer real-time customer marketing and engagement.
  • Bluefin Payment Systems launches cloud-based hosting option for its DecryptxPCI-validated P2PE product through Amazon Web Services.
  • Intuit expands partnership with PayPal to provide QuickBooks Online customers with a new way of accepting payments via PayPal.
  • Chain launches open source edition of its distributed ledger, Chain Core Developer Edition.
  • Avoka earns a pair of “XCelent Awards” for service and breadth of functionality from Celent.
  • Trulioo announced that its GlobalGateway platform now reaches 60 countries.
  • On Deck Capital and Kabbage agree to disclose SMB loan pricing

Stay current on daily news from the fintech developer community! Follow FinDEVr on Twitter.

FinDEVr Preview: Backbase

FinDEVr2015LogoV2DateFinDEVr Previews highlight the companies that will present their latest developer tools, platforms, and integrations at FinDEVr 2015 San Francisco on October 6 and 7. Pick up your ticket before Friday, September 11 and save $100 on an Early Bird ticket!

Backbase will be talking about its Digital Banking Platform and its Open Banking Marketplace. Fueled by a strong open-API strategy Backbase’s platform gives FI’s the ultimate freedom and flexibility to work with any core or third-party vendor to create a best-of-breed digital banking offering for their clients.

BackbaseHomepage

Why it’s a must-see:

For banks: Get an open platform that is truly able to deliver a superior customer experience while providing the FI full control to manage and maintain. There’s no vendor lock-in.

For fintech companies: The option to work with many banks via the Open Banking Marketplace and making their services available within a robust platform.


Check out more of today’s FinDEVr previews:

FinDEVr APIntelligence

FinDEVr2015LogoV2DateAre you building new financial technology? Be sure to register soon for the only event exclusively for fintech developers, FinDEVr 2015, Oct 6-7 in San Francisco.

Industry news:

  • Expensify launches new fintech investment fund.
  • Yodlee hosts webinar on how to build financial apps to meet evolving customer expectations.
  • The Full FinDEVr: A Look at the Final Line-Up for FinDEVr 2015 San Francisco.

The latest from upcoming FinDEVr 2015 presenters:

  • Wallaby Upgrades Credit Card Optimization Solution with Spend Monitor.
  • Backbase-powered Touch Bank goes live in Russia.
  • PayPal hires former United Airlines executive, John Rainey, as new CFO.
  • EVO Snap* to fast track EMV migration for Software Vendors and retailers; partners with Handpoint.
  • NerdWallet looks at Personal Capital in feature on how automation is disrupting investing.
  • BehavioSec mentioned as one “wild invention of the future” that the Pentagon is behind.
  • OnDeck rolls out mobile app for account management on-the-go.
  • PYMNTS looks at how PayPal’s Paydiant is powering Subway’s mobile payments app.

Alumni updates:

  • Market Visual integrates with Tradier’s API to enable investors to manage stock portfolios and trade on a single platform.
  • Tradier announces 75+ investor platforms and advisors now integrate with its API.
  • Let’s Talk Payments interviews PayStand CEO, Jeremy Almond.
  • In its latest podcast, Payments Views talks with HCE inventor and CEO of SimplyTapp, Doug Yeager.
  • Mobile Payments Today looks at InComm’s drive to bring open-loop prepaid to mobile wallets.
  • PayNearMe partners with The California Department of Child Support Services to offer a new payment option for cash-paying customers.

Stay up to date on daily developments by following FinDEVr on Twitter.

The FinDEVr APIntelligence

Are you building new financial technology? Be sure to register now for the only event exclusively for fintech developers, FinDEVr 2015, Oct 6-7 in San Francisco. 

FinDEVr2015-SF-Logo-Stackedwdate

The latest from FinDEVr 2015 presenters:

  • Pinterest turns to  Braintree to power PayPal payment option for browsing consumers.
  • FinDEVr 2015: First Round of Presenting Companies Revealed.
  • Backbase set to launch its first hackathon 19 and 20 of June.
  • Spreedly now supports third party tokens to help merchants continue to process transactions using their existing gateway-specific tokens from within Spreedly.
  • Thinking Capital  announces new name, visual identity and tagline.
  • SandHill mentions  SnoopWall as 1 of 5 Cool Pre-VC Cybersecurity Startups.
  • Avalara  acquires Belgium-based VAT Applications.
  • UPS Capital Partners integrates with Kabbage to offer more SMBs access to a loan through UPS.

Alumni updates:

  • Xero  developing business apps that Apple is using to help market the iPad’s use in business.
  • Tech.co looks at how Trulioo’s API defends startups against credit card fraud.
  • Xero  reaches 500,000 customers for its cloud accounting service, sets sights on 1 million customer milestone.
  • Verizon Ventures welcomes  SimplyTapp to its portfolio of investments.
  • Dunkin’ Donuts, Fandango, Sundance Catalog and Williams-Sonoma have all integrated Visa Checkout into their apps.
  • NerdWallet turns to  Trulioo CEO Stepehn Ufford CEO offers 5 steps to protect against cyberthreats.

Stay up to date on daily developments by following FinDEVr on Twitter.

How Backbase Engage Upgrades Banks’ Digital Channels

BackbaseLogo.jpg

If you attended FinovateFall a few months ago, you likely saw Backbase’s demo where it launched Backbase Engage. This new offering delivers omni-channel digital banking to regional banks and credit unions. The Backbase Open Marketplace bridges the gap that small financial institutions often face between their dated core banking system and newer fintech solutions.

Company facts

Backbase Engage

Customer Experience Platform
Backbase Engage stems from Backbase’s Customer Experience Platform (CXP) which, originally, was only accessible to large banks. The CXP (see a live demo here) is a widget-based customer portal that enables banks to customize their online banking appearance and function, as well as edit and design targeted offers to create a seamless customer experience across all devices.

BackbaseEngageAcct.jpg

Backbase Engage
Smaller banks with outdated core banking providers can benefit from a one-size fits all solution in order to work with their legacy system. Backbase Engage upgrades institutions’ existing systems by providing a new digital banking solution, working on any device and channel. It runs on the FI’s existing core banking stack, and enables the institution to integrate new functionality from providers in the Open Banking Marketplace. At the same time, it offers full control to the FI to manage the user experience with the integrated CXP features and Visual Editor.

Backbaseomnichannel.jpg

Widgets
The appeal of Backbase Engage stems from its modular and turnkey approach that enables banks to select from a wide variety of widgets.

To enable a high level of customization, the widgets draw from multiple sources and are made possible by APIs. For example, a bank may use Google Maps’ API for an ATM and branch locator. Backbase’s Open Banking Marketplace makes other services available through APIs from an array of fintech companies.

Open Banking Marketplace

The Open Banking Marketplace hosts APIs from Backbase’s fintech partners to give FIs access to their services. Launching partners in the Marketplace include:

backbaseopenmarketplace.jpg

BehavioSec, a behavioral biometrics security solution
Watch its FinDEVr 2014 demo video.

BehavioSecBackbase.jpg

Cardlytics, a card-linked marketing provider
Watch its FinovateFall 2013 demo video.

CardlyticsBackbase.jpg

Geezeo, a PFM and small business financial management solutions provider
Watch its FinovateFall 2014 demo.

GeezeoPFMBackbase.jpg

iPay, an online payment gateway for global ecommerce businesses
iPay demonstrated its Small Business Suite at Finovate 2009.

ipayBackbase.jpg

miiCard, an online identity verification service
Watch miiCard’s FinovateFall 2013 demo.

miiCardBackbase.jpg

MX, an online money management and PFM tool
MX last demonstrated at FinovateFall 2014 where it won Best of Show.

MXPFMBackbase.jpg

Strands, a PFM solutions provider
Strands will demo at the upcoming FinovateEurope 2015 conference in London.

StrandsPFMBackbase.jpg

Other partners:

    • Ensenta, cloud-based imaging technology for mobile RDC risk mitigation
    • Payveris, a digital money movement solution provider

Since FinovateFall, Backbase has added partners (who are confidential at this point) and is looking for more. While most fit in the security, PFM, and loyalty categories, Backbase is not necessarily looking for partners in specific verticals. Rather, it wants to connect best of breed providers that deliver quality solutions to FIs across the globe.

Though this post focuses on retail banking, Backbase Engage also works for small business (commercial) banking, insurance, and wealth management verticals.

Growth and 2015

Since launching in 2003, Backbase has experienced rapid growth across the globe, including signing major banks in North America, the European Union, and Asia Pacific regions. It has also opened offices in the largest financial hubs around the world. In 2014, Backbase’s revenue grew 40% and it projects the same growth trajectory in 2015.


Backbase most recently demoed at FinovateFall 2014 and will showcase its newest offering at FinovateEurope 2015 in London.