Backbase

History

Backbase was founded in 2003 in Amsterdam by Jouk Pleiter and Gerbert Kaandorp. The company originally produced an Ajax framework (based on HTML, JavaScript and CSS) which eventually turned into the Backbase Customer Experience Portal. Backbase originally sold to a wide range of internet-facing businesses, including financial services, but in 2013, Pleiter pivoted the company to focus solely on financial services. In 2017, Pleiter's work at Backbase was recognized with the LOEY Award, the prize for the best online entrepreneur in the Netherlands.

The business expanded globally in the following years, opening offices in Atlanta, Singapore, and other major hubs.

In 2021, Backbase announced a strategic partnership with Microsoft, which sees the Backbase platform serving in the engagement layer within Microsoft Cloud for Financial Services.

In June 2022, Backbase received investment of €120 million from US-based private equity firm Motive Partners, giving Backbase a valuation of €2.5 billion.

In 2026, Backbase updated its strategic positioning to fully focus on artificial intelligence in banking, launching what it marketed as an 'AI-native banking operating system.' This shift aimed to transition the company's product and service offering from traditional engagement banking to a platform centered on 'Agentic AI' and unified banking operations.

Banking OS Transformation Engine

The Banking OS Transformation Engine provides tooling for configuring, testing, and deploying solutions to the runtime. It comprises a low-code interface for building workflows and agent configurations, pre-packaged templates for common banking functions such as onboarding and dispute handling, a deployment pipeline, operational monitoring dashboards, and a simulation environment for testing prior to production release.