Backbase launches Grand Central, its new-gen integration solution

By Gloria Methri

Backbase, an Engagement Banking platform provider, has announced the launch of Grand Central, its Integration Platform-as-a-Service (iPaaS). The offering aims to empower banks in expediting their modernization and digital transformation endeavors.

Grand Central delivers unified APIs to power banks’ channel applications and third-party developers. Using BIAN-based domain model and unified banking APIs, the iPaas platform connects any channel application to various downstream systems, including core banking platforms, customer relationship management systems, payment and FinTech systems, and more.

Through the use of industrialized plug-and-play connectors, banks can rapidly accelerate their time-to-market while significantly reducing the budgets typically associated with integrations.

With Grand Central, banks will gain the ability to harmonize data across their diverse tech stack, ultimately resulting in seamless digital customer experiences across web and mobile applications running on the Backbase Engagement Banking Platform.

Jouk Pleiter, CEO at Backbase, stressed the critical importance of this solution, stating, “Banks today are burdened with aging infrastructure and a very fragmented legacy IT landscape, that makes it difficult to keep pace with changing customer expectations. Our Integration Services team operates as an extension of a bank’s IT organization, simplifying and resolving integration challenges that have hindered many banks in executing their digital transformation strategy. With Grand Central our clients can leverage a BIAN-based, unified API infrastructure, giving instant access to leading financial services technology providers. By combining these powerful capabilities in a unified developer experience, banks can focus on rapid innovation while future-proofing their enterprise integration architecture.”

Some of the key benefits of Grand Central include universal integration, reduced complexity, and accelerated time-to-market.

In line with Backbase’s commitment to revolutionize the banking industry, the company has also introduced a $10 million investment fund. This fund is dedicated to accelerating the connectivity of region-specific products, empowering banks worldwide to streamline their operations, reduce costs, and provide exceptional customer experiences.