Backbase Joins Forces with Jack Henry's VIP for Better Banking
Backbase Enhances Banking Solutions Through New Integration
Backbase, a pioneer in creating an innovative Engagement Banking Platform, recently announced its integration into Jack Henry's Vendor Integration Program (VIP). This exciting collaboration provides Backbase access to Jack Henry's technical resources, allowing for seamless integration with the Symitar platform. By joining the VIP, Backbase aims to simplify the deployment of its services for credit unions and enhance their operational capabilities.
Revolutionizing Credit Union Integrations
The Engagement Banking Platform is designed to work closely with Symitar through the SymXchange programming interface. This services-based interface allows third-party vendors and credit unions to access core data and business rules safely and effectively. At the heart of this integration is a commitment to maintain data integrity throughout data exchanges, ensuring that critical business rules and data interactions are carefully managed.
Addressing Historical Challenges
Historically, credit unions have grappled with intricate and costly integrations that often led to lengthy implementation periods. The landscape has been challenging due to fragmented channel solutions and a lack of pre-integrated technology stacks. However, this partnership between Backbase and Jack Henry aims to rectify these issues by streamlining core banking connectivity and enabling credit unions to leverage outstanding member engagement journeys.
Building a Future-Ready Banking Experience
With over 400 pre-integrated capabilities now accessible through Jack Henry's Symitar, the Backbase Engagement Banking Platform empowers credit unions to modernize and transform their digital infrastructures effectively. By tapping into these innovations, credit unions can enhance service delivery and foster better member experiences. Roland Booijen, GM Ecosystems at Backbase, emphasized that this integration not only alleviates the historic struggles faced by credit unions but also accelerates their growth in a competitive market.
Jack Henry's Vendor Integration Perspective
Jack Henry’s VIP initiative focuses on optimizing vendor access to Jack Henry's robust technical resources and testing systems. This program is designed to streamline the vendor experience, placing them in a position to innovate without unnecessary hurdles. While inclusion in the VIP indicates a seat at the table, it does not represent an endorsement of their offerings.
Learn About Jack Henry and Backbase
Jack Henry™ (Nasdaq: JKHY) stands out as a comprehensive financial technology provider dedicated to connecting financial institutions with their customers. This S&P 500 company is known for fostering openness and collaboration in its solutions, tailored to meet the evolving needs of clients. Over its 48-year history, Jack Henry has empowered approximately 7,500 clients with cutting-edge technology that aids in promoting financial health.
Backbase's Mission and Vision
Backbase is committed to re-architecting the banking experience around its members. The company's Engagement Banking Platform focuses on delivering a holistic banking experience that includes member onboarding, servicing, and financial product origination—all designed to enrich member experiences and empower credit unions. Known for its forward-thinking approach, Backbase continually earns accolades from industry analysts concerning digital transformation leadership.
Join the Community of Innovators
Worldwide, over 120 credit unions and banks, such as Blue Federal Credit Union and Navy Federal Credit Union, have adopted the Backbase Engagement Banking Platform. The company, which started in Amsterdam and expanded to serve the U.S. market, exemplifies the future of banking innovation by successfully collaborating with financial service providers.
Frequently Asked Questions
What is the significance of Backbase joining Jack Henry's VIP?
This integration allows Backbase to access Jack Henry's technical resources, facilitating improved service deployment for credit unions.
How does the Engagement Banking Platform work with Symitar?
The platform integrates with Symitar via SymXchange, a services-based interface that ensures secure access to core data and rules.
What challenges do credit unions face that this integration addresses?
Credit unions often struggle with high integration costs and slow implementation; this partnership aims to streamline those processes.
What innovations does Backbase bring to credit unions?
Backbase offers over 400 pre-integrated capabilities that help credit unions modernize their digital infrastructures effectively.
Who are some notable users of Backbase's platform?
Prominent users include Blue Federal Credit Union and Navy Federal Credit Union, among others, reflecting broad adoption and trust in Backbase's solutions.
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