Backbase, a provider of banking technology, and Ninth Wave, an Open Finance connectivity service based in the United States, have entered into a strategic partnership. This collaboration aims to enable banks to offer corporate clients direct, permission-based integration between their Enterprise Resource Planning (ERP) systems and accounting software with their banking data.

According to the official press release, the joint solution is now available for immediate use. Ninth Wave’s API-first approach serves as a bridge connecting banks with their client’s financial software solutions. This platform manages consent, activity logs, and API governance within a unified system. The integration offers real-time data transfer with audit trails and compliance controls, eliminating the necessity for manual data entry, batch file uploads, or screen scraping to keep financial systems updated with banking records.

Market Demand and Future Developments

Ninth Wave’s 2025 research revealed that 86% of chief financial officers (CFOs) and corporate finance teams are considering switching banks to access Open Finance features, with those currently connected seeing a savings of over five hours per week through improved operational efficiency.

For banks utilizing the Backbase platform, this partnership broadens their corporate banking portfolio by incorporating features that enhance cash flow visibility, payment execution, and reconciliation directly within clients’ existing financial processes. Moving forward, Backbase and Ninth Wave plan to expand ERP connectivity functionalities, support multi-country corporate payments, and develop real-time cash management dashboards for global enterprises.

This partnership underscores the growing demand among corporate banking customers for seamless integration between their banking infrastructure and operational financial systems. As businesses strive to reduce data management complexities across various portals and platforms, this collaboration is expected to simplify these processes significantly.

Mayank Somaiya, Global VP for Ecosystem Partnerships at Backbase, commented that the partnership will equip banks with capabilities to integrate directly into clients’ daily workflows, fostering longer-term client relationships and facilitating high-value banking services. Joe Fiorillo, VP of Strategic Partnerships at Ninth Wave, highlighted that their combined solution delivers modern banking services businesses require by simplifying connectivity and providing a central management hub for Open Finance operations.