Backbase acquires digital wealth platform

Backbase has acquired digital wealth platform Nucoro for an undisclosed amount.

The purchase will allow Amsterdam-headquartered Backbase to incorporate Nucoro’s platform capabilities into Backbase’s own banking platform, which it said will enable customers to launch end-to-end services including trading and robo-advisory.

The two companies, which have previously collaborated on joint projects, are based on open industry standards and share a microservice-based architecture.

Backbase said that market for wealth management platforms is set to grow by around ten per cent in the next decade and provide value for retail banks and wealth managers.

Commenting on the news Jouk Pleiter, founder and chief executive of Backbase, said that he was seeing a growing demand from private banks and wealth management firms to modernise their legacy systems.

“We see a trend where retail banks want to quickly launch differentiating investment propositions to complement their daily banking services,” he added. “Think of capabilities like enhanced savings, pension products, stock trading, and portfolio management.”

    Share Story:

Recent Stories


Safeguarding economies: DNFBPs' role in AML and CTF compliance explained
Join FStech editor Jonathan Easton, NICE Actimize's Adam McLaughlin and Graham Mackenzie of the Law Society of Scotland as they look at the role Designated Non-Financial Businesses and Professions (DNFBPs) play in the financial sector, and the challenges they face in complying with anti-money laundering and counter-terrorist financing regulations.

Ransomware and beyond: Enhancing cyber threat awareness in the financial sector
Join FStech editor Jonathan Easton and Proofpoint cybersecurity strategist Matt Cooke as they discuss the findings of the State of the Phish 2023 report, diving into key topics such as awareness of cyber threats, the sophisticated techniques being used by criminals to target the financial sector, and how financial institutions can take a proactive approach to educating both their employees and their customers.

Click here to read the 2023 State of the Phish report from Proofpoint.

Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.

Future of Planning, Budgeting, Forecasting, and Reporting
Sage Intacct is excited to present FSN The Modern Finance Forum’s “Future of Planning, Budgeting, Forecasting, and Reporting Global Survey 2022” results. With participation from 450 companies around the globe, the survey results highlight how organisations are developing their core financial processes by 2030.