Backbase Delivers Industry Leading Digital Banking Platform to Support MyState’s Future Growth Ambitions

Hobart, 26 August 2024 - Backbase, the global leader in engagement banking, has successfully delivered a new digital banking platform for MyState Bank (MyState) to support future growth. The platform represents a significant leap forward in delivering seamless, customer-centric digital experiences to MyState customers.

MyState has partnered with Backbase to modernise its digital banking offering, aiming to simplify money management with an easier, more user-friendly, and secure platform for customers.

Backbase has developed a proven engagement banking suite, combined with a robust delivery methodology. Backbase's powerful, flexible, and modular platform enables seamless integration with other leading technologies that the bank has invested in. 

"To support our growth ambitions, we have chosen to invest in best-of-suite technology to provide the best possible digital and people backed experience for our customers," said Brett Morgan, Managing Director and CEO, MyState Bank.

"The implementation has been smooth and customers have reacted positively to the new highly rated app and digital experience," Mr Morgan said. 

The Backbase Engagement Banking Platform now supports MyState's range of personal digital banking capabilities, including advanced personal finance management (PFM), payments (including Pay ID and digital wallets), deeply embedded threat/fraud protection and a sophisticated limits/notifications capability across all channels. 

Iman Ghodosi, Managing Director - Australia and New Zealand at Backbase Australia, said, "We are excited to support MyState's growth ambitions, with the Backbase platform as a key enabler. MyState is now well positioned to respond to the rapidly evolving needs of banking customers in Tasmania and as well as targeting growth on the east coast of Australia as a challenger brand."

Anand Venkatachalam, Director for Customer Success at Backbase Australia, said, "We are thrilled to see MyState's implementation go live and deliver a truly world-class tailored customer experience. To date, over 250 production releases have taken place in the lead up to launch. Ultimately, MyState Bank now has the machinery in place to continue innovation plans.

"Since our partnership began, we've fostered a collaborate-to-win, success driven mindset and Backbase is eager to see this continue to flourish in the years to come."

About Backbase 

Backbase is on a mission to re-architect banking around the customer. 

We are the creators of the Engagement Banking Platform - a composable platform that empowers banks to accelerate their digital transformation through progressively modernising their main customer journeys. From onboarding, to servicing, lending and investing, our platform streamlines every aspect of the customer and employee journey. Pre-integrated with leading core systems and cutting-edge fintechs, it enables institutions to unlock innovation at scale, driving instant value creation.

Industry analysts Forrester, Gartner, Celent, Omdia and IDC continuously recognise Backbase's category leadership. Over 150 financials around the world have embraced the Backbase Engagement Banking Platform — including AIB, Banorte, BIAT, Bank of the Philippine Islands, BDO, Banque Saudi Fransi, Everbank, BRD, Discovery Bank, Banco Bineo, First National Bank, HDFC, Ila Bank, National Bank of Canada, KeyBank, Judo Bank, OCB, Lloyds Banking Group, NatWest, I&M Bank Kenya, Navy Federal Credit Union, OTP Group, Raiffeisen, Techcombank, Standard Bank, Saudi National 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), Cardiff, Dubai, Hyderabad, Kraków, London, Mexico City, Singapore (Asia HQ), Sydney, and Toronto. Discover more here.

About MyState Bank

MyState Limited is the ASX-listed (MYS) non-operating holding company of the diversified financial services Group consisting of MyState Bank and TPT Wealth, a trustee and wealth management company. MyState Bank is regulated by the Australian Prudential Regulatory Authority. MyState Bank and TPT Wealth hold Australian Financial Services Licences issued by the Australian Securities and Investments Commission.