SINGAPORE - Media OutReach - 1 February 2023 - Backbase, the Engagement Banking platform leader, was recently named a winner of several xCelent Awards in Celent's digital banking-themed reports, covering retail and small business banking internationally. These awards continue the strong recognition Backbase has received from the analyst community and the ability to help customers win in the platform era. Built as one unified platform to engage and orchestrate frictionless experiences across all touchpoints at every stage of the customer lifecycle across retail banking, business banking, digital lending, and wealth management, Backbase has helped 150+ banks and credit unions around the globe re-architect banking around their customers.

Celent's analysts noted Backbase's steady investment in R&D and an increasing number of cloud deployments, which allows financial institutions to achieve their preferred balance between adopting out of the box and building customized journeys. Celent also highlighted Backbase's strong track record of integrating into legacy core systems and overcoming typical bottlenecks and has successfully developed implementation accelerators.

"Business owners and operators require specialized service above and beyond what they are offered by most banks in the region," Iman Ghodosi, Managing Director, ANZ, Backbase said. "As a major driver of economic growth in APAC, small businesses in particular deserve a vastly improved lending experience, and we're delighted that Celent has recognized the massive progress we're making in these areas."

Celent's recognition is based on its ABC methodology which positions and awards vendors across three dimensions: Advanced Technology, Breadth of Functionality, and Customer Base and Support. Backbase was named as a Luminary, receiving xCelent Awards for Advanced Technology and Breadth of Functionality) in four Celent reports, including:

• Retail Digital Banking Platforms: International Edition

• Small Business Digital Banking Platforms: International Edition

In APAC, Backbase has progressively expanded to become the preferred retail banking platform of leading banks, such as Bank of the Philippine Islands, Techcombank and TP Bank in Vietnam andHDFC in India, and the preferred business banking platform for Judo Bank in Australia and Techcombank in Vietnam.

"Backbase has invested more into research and development than our competitors year after year to meet local Asian regulations as well as help our customers provide more innovative banking services and personalized journeys, and we're delighted to see it recognized by Celent," Riddhi Dutta, Regional Vice President, Asia, Backbase, said. "These awards demonstrate our commitment to being our customers' long-term innovation partner."

About Backbase
 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, our 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, our 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 Forrester, Gartner, Omdia and IDC continuously recognize Backbase's category leadership position. Over 150 financials around the world have embraced the Backbase Engagement Banking Platform. In APAC, the customers we serve include ABBANK, BDO Unibank, Bank of the Philippine Islands, EastWest Bank, HDFC, IDFC First, JudoBank, Techcombank, TPBank, and UBank.

Backbase is a privately funded fintech company, founded in 2003 in Amsterdam (global HQ), with regional offices in Singapore (APAC HQ), Atlanta (Americas HQ), and operations in Australia, India, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Latin America, and the UK.

The issuer is solely responsible for the content of this announcement.

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