Mambu extends its cloud approach with major cloud providers
Mambu, the SaaS cloud banking platform, has announced general availability across three leading cloud providers Amazon Web Services (AWS), Google Cloud and Microsoft Azure, expanding its global market reach.
The fintech's cloud approach allows complete flexibility for customers to meet ambitious expansion plans seamlessly, giving customers a choice to use the most secure, reliable and high-performance technology stack available.
Mambu customers have a choice of provider based on their specific business, technical and regulatory requirements, located in the same or a different geographical region, without impacting availability or service levels.
For decades, legacy technology solutions have needed to be faster to implement. Using Mambu's cloud banking platform, products can be pushed to market in weeks, and over 95% of core banking transformations go live in months.
Mambu’s composable platform provides components that can be selected and assembled in various combinations to satisfy specific user requirements. This empowers financial institutions to modernise their infrastructure, meet rapidly changing customer behaviours and expectations, and drive business growth.
The development promises more customer choice, a secure foundation to meet financial security standards and high reliability for all three cloud providers.
“We’re at a pivotal stage in our growth, and implementing this extended approach will allow us to continue providing the best service for our customers. Many technology providers rely on public cloud services. However, Mambu’s extended deployment flexibility meets the growing demands for performance, security, and reliability,” says Paul Apolony, General Manager Australia and New Zealand at Mambu.
“Having the opportunity to work with three of the leading cloud providers supporting over 230 banks and non-bank financial institutions globally is a game changer. Financial institutions’ choice of cloud service provider is influenced by strategy, existing relationships, availability of services and hosting requirements. The general availability of these cloud providers on Mambu will help us continue to create better financial experiences for existing and new customers in Australia and New Zealand and across the globe.”
The announcement followed a US$235 million Series E funding round for Mambu in December last year; the largest private fundraising for a cloud banking platform.
Launched in 2011, Mambu fast-tracks the design and build of nearly any type of financial offering for banks of all sizes, lenders, fintech, retailers, telcos and more. Its unique composable approach means that independent components, systems and connectors can be assembled in any configuration to meet business needs and end-user demands.
Mambu has 900 employees that support 230 customers in over 65 countries. These include Western Union, Commonwealth Bank of Australia, N26, BancoEstado, OakNorth, Raiffeisen Bank, ABN AMRO, Bank Islam and Orange Bank.
With Mambu at the core of their banking or lending architecture, the clients get a composable technology foundation where they can build customer-centric experiences that they fully control.
Mambu’s extensive partner ecosystem connects clients to independent services and solutions to create differentiated financial offerings.
To be competitive, banks need a high-velocity operating model, which is only made possible with Mambu.
In addition, Mambu's low-code process, single code base, publicly available APIs and regular releases make banks future-proofed, so they continuously iterate with zero disruption.
Cloud-native, with a transparent SaaS model, Mambu’s platform can scale in numbers or across borders. In addition, costs are aligned to growth, opening up new possibilities with no heavy upfront investment, vendor lock-in or expensive professional service engagements.