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APIs · head to head

Backbase vs Trustly

Backbase logo

Backbase

APIs

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

From
On request
Rated
-
Full reviewWebsite
Trustly logo

Trustly

APIs

Pay-by-bank payments network, majority-owned by private equity firm Nordic Capital

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.; Trustly it is majority-owned by Nordic Capital, a private equity firm, so its long-term roadmap is ultimately oriented toward an eventual sale or IPO rather than indefinite independent operation.
  • They diverge on capability: Backbase covers Digital banking front end, Trustly covers Pay by bank checkout.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Backbase and Trustly actually diverge.

Attributes where Backbase and Trustly differ
AttributeBackbaseTrustly
PlatformsWeb, iOS, AndroidWeb, 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 Trustly

  • Pay by bank checkout
  • Instant refunds
  • Verified payouts
  • Multi-market bank connectivity
  • Merchant dashboard and reconciliation
  • Fraud and risk tooling

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 Trustly
  • A credit union wanting purpose-built digital onboarding and servicing workflowsnot Trustly
  • A newer bank wanting an engagement layer built for AI-driven interaction from the outsetnot Trustly
  • A bank consolidating several separate digital banking front ends into one platform across retail and business bankingnot Trustly

Trustly

  • An e-commerce merchant wanting a lower-cost alternative or complement to card payment acceptancenot Backbase
  • A gaming or gambling operator needing verified, instant payouts to players' bank accountsnot Backbase
  • A merchant wanting instant refunds processed directly to a customer's bank account rather than card reversal delaysnot Backbase
  • A business in a market with strong open banking adoption wanting pay-by-bank as a checkout optionnot 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.

Trustly

  • It is majority-owned by Nordic Capital, a private equity firm, so its long-term roadmap is ultimately oriented toward an eventual sale or IPO rather than indefinite independent operation.
  • Consumer familiarity with paying by bank transfer still lags card payments in most markets, so merchants typically see it used as a secondary option rather than a full card replacement.
  • The 1.15 to 3.15% merchant fee range is not a single published rate, so a merchant cannot know its actual cost without a sales negotiation.
  • As with all open banking-dependent payment methods, reliability depends on the consistency of the underlying banks' own APIs, which Trustly does not control.
  • Its verified payout functionality is heavily used in gaming and gambling, a sector with additional regulatory scrutiny, which is worth factoring in when evaluating vendor risk exposure by association.

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

Trustly

On request
  • Trustly$undefined/month
    • Typical merchant cost of 1.15% to 3.15% depending on volume and market
    • Exact rate negotiated per merchant, not published as a flat card

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 Trustly if

  • You need pay by bank checkout.
  • You work on Web, API.
  • You also want instant refunds.
Trustly review

Questions people ask

Is Backbase or Trustly better?
Neither clearly leads. Backbase starts at On request and Trustly at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Backbase or Trustly?
Backbase starts at On request and Trustly at On request.
Does Backbase or Trustly run on more platforms?
Backbase runs on Web, iOS, Android. Trustly runs on Web, 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 Trustly is typically brought in for.
What can Backbase do that Trustly cannot?
Backbase covers Digital banking front end, Digital onboarding, Customer engagement workflows, AI-native banking OS positioning. Trustly covers Pay by bank checkout, Instant refunds, Verified payouts, Multi-market bank connectivity.

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.

Trustly: Who owns Trustly?

Nordic Capital, a private equity firm, holds a 51.1% majority stake; Alfven & Didrikson and BlackRock hold smaller stakes.

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.

Trustly: Is Trustly going public?

It has discussed an IPO but as of its most recent comments said one remained at least a year away.

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

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

Trustly: What does it typically cost a merchant?

Roughly 1.15% to 3.15% of transaction value depending on volume and market, negotiated per merchant.

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