Federal Credit Union (Blue FCU) has announced a partnership with Engagement Banking technology provider Backbase to launch a new front-end digital interface. According to the announcement, the partnership will upgrade the digital interface for both its business and retail banking customers.
Blue FCU, headquartered in Wyoming, serves communities in the Western United States. The collaboration will see Blue adopt Backbase’s Digital assets, Digital Sales, and Digital Banking solutions for both lines of business.
President and Chief Executive Officer of Blue Federal Credit Union, Stephanie Teubner, stated that the partnership will enable the credit union to compete like a national bank, increasing its market share in the U.S.
The Partnership Will Deliver A Customizable Front-End Experience
Teubner admitted that Blue has made innovative efforts in the past to update its core systems and physical infrastructure. Following the partnership deal with Backbase, the institution will be delivering a “customizable front-end experience and replace a rigid, outdated UI/UX.”
She added that Blue FCU always has a strategic goal of serving its members. The deal with Backbase will give Blue the opportunities and capabilities to grow quickly and adapt to the ever-changing market landscape.
Backbase will be providing an end-to-end experience for Blue members while providing the human touch and personalization that members of Blue have become familiar with.
Additionally, Backbase has an engagement banking platform that provides out-of-the-web mobile and web apps, providing better convenience for Blue members.
Blue To Provide A Comprehensive Single Digital Platform For Members
The partnership will also ensure proper integration with popular top-party fintech, providing Blue members with all their financial needs on a single digital platform.
Chief Information Officer at Blue Federal Credit Union, Kent Richard, said the flexible platform offered by Backbase will enable Blue to rapidly deploy new products and services.
He added that Blue has been working seriously on its digital transformation for some time now. However, the company’s investment in Backbase will be moving it away from its product-centered basis to a digital-centered experience.
He added that financial institutions that can do away with the old product-centric mindset will compete favorably in the digitally-inclined market.
