Navy Federal Credit Union agrees new seven-year partnership with Backbase
Navy Federal Credit Union (NFCU) in the US has extended its digital transformation partnership with Backbase by seven years.
NFCU extends Backbase partnership by seven years
The $171 billion-asset credit union is “continuing to standardise” both member and employee-facing applications using the Dutch fintech’s engagement banking platform.
In leveraging the technology, NFCU hopes to enhance the banking experience for its workforce and 13 million members through consolidated data, business logic and workflows.
Backbase says it’s currently focused on “reducing the number of siloed channel applications” within the credit union’s legacy IT operations, as well as further aiding its market agility.
Virginia-headquartered NFCU provides banking, mortgage, loan and financial wellness services to members of the US Department of Defense and Coast Guard, as well as their families, civilian and contractor personnel, and veterans.
The news its renewed partnership with Backbase comes hot on the heels of the announcement in January that it was to tap software provider Oracle for its cloud and account servicing technology.
