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APIs · head to head

Backbase vs Toqio

Backbase logo

Backbase

APIs

Digital and AI-native engagement banking platform for customer-facing banking experiences

From
On request
Rated
-
Full reviewWebsite
Toqio logo

Toqio

APIs

No code platform for building embedded finance products on your own providers

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Backbase pricing scales with assets under management and AI API calls, meaning cost grows as the bank itself grows and adopts more AI features, which is a less predictable cost curve than a flat per-seat model.; Toqio toqio holds no licence and provides no sponsor bank, so you must find, contract and manage regulated providers yourself, which is the slowest part of any embedded finance launch.
  • They diverge on capability: Backbase covers Digital banking front end, Toqio covers No code product builder.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Backbase and Toqio actually diverge.

Attributes where Backbase and Toqio differ
AttributeBackbaseToqio
PlatformsWeb, iOS, AndroidWeb, iOS, Android, API

Identical on both: starting price (On request), pricing model (quote), free tier (No), user rating (Not yet rated), category (APIs).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Backbase

  • Digital banking front end
  • Digital onboarding
  • Customer engagement workflows
  • AI-native banking OS positioning
  • Core-agnostic integration
  • Small business banking modules

Only in Toqio

  • No code product builder
  • Provider orchestration
  • Account and card modules
  • Embedded financing
  • Back office tooling
  • Multi entity and multi brand
  • White label mobile apps
  • Marketplace of providers

What people use each for

The jobs each tool is most often brought in to do.

Backbase

  • An established bank wanting to modernise its digital customer experience without replacing its core banking systemnot Toqio
  • A credit union wanting purpose-built digital onboarding and servicing workflowsnot Toqio
  • A newer bank wanting an engagement layer built for AI-driven interaction from the outsetnot Toqio
  • A bank consolidating several separate digital banking front ends into one platform across retail and business bankingnot Toqio

Toqio

  • A manufacturer offering branded working capital finance to its dealer networknot Backbase
  • A B2B marketplace launching accounts and cards for its sellers without becoming regulated itselfnot Backbase
  • A corporate that wants to switch card issuer without rebuilding its customer facing productnot Backbase
  • A group launching the same embedded finance product across several markets with different local providersnot Backbase

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Backbase

  • Pricing scales with assets under management and AI API calls, meaning cost grows as the bank itself grows and adopts more AI features, which is a less predictable cost curve than a flat per-seat model.
  • It sits above, not instead of, a core banking system, so adopting it does not reduce a bank's overall vendor count or technology complexity; it adds a specialised layer.
  • As with any customer-facing banking platform, an outage or performance issue directly affects the bank's customers, so the operational stakes of vendor reliability are high.
  • Implementation for a large bank spans multiple modules and integration points, and realistic timelines run well beyond a simple software rollout.
  • Pricing opacity means a bank cannot benchmark Backbase against competing engagement banking platforms without engaging each vendor's own sales process separately.

Toqio

  • Toqio holds no licence and provides no sponsor bank, so you must find, contract and manage regulated providers yourself, which is the slowest part of any embedded finance launch.
  • Because it orchestrates rather than provides, the customer experience is only as good as the underlying bank or issuer, and Toqio cannot fix a partner's settlement delays or outages.
  • Pricing is quoted with no public rate card, so comparing it against building in house or against a bundled banking as a service provider requires a full sales process.
  • With around EUR 30 million raised in total it is a small supplier to underpin a financial product a large corporate expects to run for a decade, which raises real continuity questions in procurement.
  • No code configuration covers standard patterns well but bespoke customer journeys eventually require custom development, at which point the main advantage over building directly on provider APIs narrows.

Pricing, plan by plan

Backbase

On request
  • Backbase$undefined/year
    • Pricing scales with users, modules, assets under management and AI API calls
    • Custom quote required, not published

Toqio

On request
  • Toqio platform$undefined/year
    • Quoted per customer, typically setup plus recurring platform fee
    • Regulated provider fees are separate and contracted by you
    • Card interchange and lending economics belong to your provider agreements

Which should you pick?

Choose Backbase if

  • You need digital banking front end.
  • You work on Web, iOS, Android.
  • You also want digital onboarding.
Backbase review

Choose Toqio if

  • You need no code product builder.
  • You work on Web, iOS, Android, API.
  • You also want provider orchestration.
Toqio review

Questions people ask

Is Backbase or Toqio better?
Neither clearly leads. Backbase starts at On request and Toqio at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Backbase or Toqio?
Backbase starts at On request and Toqio at On request.
Does Backbase or Toqio run on more platforms?
Backbase runs on Web, iOS, Android. Toqio runs on Web, iOS, Android, API.
What is Backbase best used for?
Backbase is most often used for an established bank wanting to modernise its digital customer experience without replacing its core banking system, a credit union wanting purpose-built digital onboarding and servicing workflows, a newer bank wanting an engagement layer built for ai-driven interaction from the outset, a bank consolidating several separate digital banking front ends into one platform across retail and business banking. Of those, an established bank wanting to modernise its digital customer experience without replacing its core banking system and a credit union wanting purpose-built digital onboarding and servicing workflows are not what Toqio is typically brought in for.
What can Backbase do that Toqio cannot?
Backbase covers Digital banking front end, Digital onboarding, Customer engagement workflows, AI-native banking OS positioning. Toqio covers No code product builder, Provider orchestration, Account and card modules, Embedded financing.

Answered from the vendors’ own pages

Backbase: Does Backbase replace our core banking system?

No, it is a customer engagement layer that sits above and integrates with an existing core banking system.

Toqio: Does Toqio provide the banking licence?

No, deliberately. You contract your own bank, issuer or lender, which is why you can replace them without rebuilding the product.

Backbase: How does pricing work?

It scales with factors including number of users, modules implemented, assets under management and AI API calls; exact numbers require a quote.

Toqio: Who is it aimed at?

Large corporates and B2B ecosystem operators embedding finance for suppliers, dealers or marketplace sellers, not consumer fintech startups.

Backbase: Is it suited to business as well as retail banking?

Yes, it includes modules specifically for small business banking engagement alongside retail.

Toqio: How much does it cost?

Not published. Expect a setup fee plus a recurring platform fee, with all regulated provider costs on top and separately contracted.

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