CFOtech Asia logo
Technology news for Asia's CFOs and financial decision-makers
Story image

SaaS banking engine Mambu gains 'Challenger' spot in Gartner MQ

Mon 19 Aug 2019
FYI, this story is more than a year old

Software  as a service (SaaS) banking engine Mambu has been positioned as a challenger in Gartner’s 2019 Magic Quadrant for Global Retail Core Banking.

The quadrant analyses the core banking market, and how it is being shaped by digital banking transformation.

“[There is] an increased focus on commercial off-the-shelf packages, public cloud and open banking initiatives. Bank CIOs should evaluate core banking products in the broader context of the open core banking ecosystem,” the report states.

“The definition of a CBS (core banking system) hasn’t changed significantly over the years. However, CBS offerings are evolving from autonomous islands of functionality to collaborative, open-banking-enabled platforms. Moreover, the shift to open banking platforms is integrating all of the stakeholders in a bank’s value chain: financial technologies (fintechs), technology partners, bank employees, customers, regulatory authorities and other banks.”

Mambu CEO Eugene Danilkis comments, “We are delighted to be included in the 2019 Magic Quadrant for Global Retail Core Banking.” 

“We believe it acknowledges our growth and the impact of cloud providers in the market. We see that the market is changing, and banks have realised the need to be built to change quickly instead of building a finite vision of the future. This agility and control is what we offer banks: the ability to compose their own architecture.” 

Mambu was founded in 2011 with the aim of providing a modern cloud-native banking platform. Since then, it has grown significantly to win over 130 clients globally including ABN AMRO’s New 10, leading venture-backed fintechs N26 and OakNorth, and non-banks like Cheers Paytech. 

“This is the first year Mambu was evaluated in the report and we believe being positioned as a Challenger confirms that our strategy and technology is rapidly gaining traction in the market. It motivates us to continue to innovate, grow and further change the market,” says Danilkis.

Mambu’s flexible API-driven technology provides financial institutions of all sizes with the agility to rapidly design, launch, service and scale their banking and lending portfolio. 

Mambu’s team comprises more than 200 people spread between our main offices in Amsterdam, Berlin, Singapore, London, Iași (Romania) and Miami servicing over 130 clients with over 14 million end users in over 45 countries.

Gartner’s criteria for a vendor’s ability to execute includes evaluating the product or service, overall viability, sales execution/pricing, market responsiveness/record, marketing execution, customer experience, and operations. The evaluation criteria for completeness of vision includes market understanding, sales strategy, offering (product) strategy, vertical/industry strategy, innovation and geographic strategy. 

Related stories
Top stories
Story image
Collaboration
Enterprise service management: the importance of a one-stop shop
In an online world, employees and end-users want one place to go for all their questions and requests. Intranet technology and self-service portals are useful tools that help serve this purpose.
Story image
Storage
EXCLUSIVE: Finding the best data center for your business needs with datacenterHawk
Companies using cloud are consistently looking for the best storage solutions to suit their enterprise needs and often have to go through rather complex processes in order to find the right fit.
Story image
Ransomware
Examining the future of ransomware threats with Vectra’s CTO
As customers' valuable data move to the cloud, so will ransomware. What is the current landscape and what do we need to know?
Story image
Recruitment
Thales on recruitment hunt for next disruptive innovations
"Recruiting new talent is part of Thales's belief in the power of innovation and technological progress to build a safer, greener and more inclusive world."
Story image
Data
Kacific and Teleglobal support expansion of telecom networks in Indonesia
Kacific has partnered with Teleglobal in Indonesia to provide a large-scale deployment of mobile backhaul services to major telecommunications operators.
Story image
MarTech
Martech experts reveal the “buzz” on personalisation
In the digital age, innovative technology must be leveraged to power an efficient and effective relationship marketing strategy.
Story image
Sustainability
Honeywell launches new carbon energy management software for buildings
The new Carbon & Energy Management service allows building owners to track and optimise energy performance against carbon reduction goals, down to a device or asset level.
Story image
Amazon Web Services / AWS
Qualtrics goes live on AWS Cloud Infrastructure in Japan
Organisations across Japan will now be able to access the Qualtrics XM/OS platform locally via data centre in the AWS Asia Pacific (Tokyo) region.
Story image
Education
Microsoft Hong Kong partners with CUHK Business School
The collaboration sees CUHK Business School become the first business school as the authorised exam centre for Microsoft Certifications in Hong Kong.
Story image
Digital Transformation
What CISOs think about cyber security, visibility and cloud
Seeking to uncover the minds of CISOs and CIOs across Asia Pacific, my company recently asked Frost & Sullivan to take a snapshot of cloud adoption behaviour in the region.
Story image
DNS
DigiCert acquires DNS Made Easy and affiliated brands
Greg Clark comments, says, "This combination enhances the security of certificate validation and enables the automation of future validations."
Story image
Artificial Intelligence
Salesforce harnesses automated solutions with new developments
Salesforce has launched Sales Cloud Unlimited, a new feature to help accelerate productivity with AI and automation.
Story image
Infosys
Preparing for the digital decade with the right workforce strategies
For a decade that started under the pall of the pandemic, the 2020s is poised to end with a bang with the digital economy swelling to a high across the world.
Story image
Motorola Solutions
Motorola Solutions deploys communication system to 5th Japanese airport
Motorola Solutions with its partner, Nippon Airport Radio Services deployed the mission critical communication system to Kansai.
Story image
Fintech
Corpay announces new collaboration with Triterras
Corpay and fintech firm Triterras have announced a new collaboration between Corpay’s Cross-Border business and Triterras Inc.    
Story image
API
Industry-first comprehensive risk-based API security enhances protection
Application Programming Interfaces (APIs) have become a crucial part of operating web and mobile application businesses and are causing significant economic growth in the digital sector.
Story image
Infrastructure
New VMware offerings improve cloud infrastructure management
VMware has unveiled VMware vSphere+ and VMware vSAN+ to help organisations bring benefits of the cloud to existing on-prem infrastructure.
Story image
Cloud
BT builds on Equinix partnership with new cloud offering
BT has launched a next-generation cloud connectivity offering extending its global network into strategic carrier-neutral facilities (CNFs) and building on its existing partnership with Equinix.
Story image
Digital wallets
NFTs are ready to disrupt the ticketing world
The last few months have seen NFTs wielded by digital creators to take ownership over their craft and content. Now other industries are beginning to understand the real-world value that these nifty decentralised tokens can provide.
Story image
Contact Centre
Customer service agents don't want to return to contact centres
A new report has revealed that 85% of customer service agents want to work full-time at home and not return to contact centre offices.
Story image
Cybersecurity
Kaspersky opens three new centers to boost data management
Cybersecurity company Kaspersky has opened three new Transparency Centers, one in Japan, the second in Singapore and the third in the United States.
Story image
Testing
Video: 10 Minute IT Jams - An update from Tricentis
Tricentis provides software testing automation, and software quality assurance products for enterprise software.
Story image
Tech job moves
Tech job moves - ActiveCampaign, Arcserve, LogRhythm & Qlik
We round up all job appointments from June 17-22, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Supply chain
Supply chains continue to be disrupted, enterprises embrace circular economy
“Businesses urgently need to find a solution that can help them to manage this disruption, and transition to a circular economy."
Story image
Multi Cloud
Cloud is a tool, not a destination
For many years, “cloud” has been thought of as a destination which has led to a misguided strategy that sees an enterprise trying to shift all its applications to a single cloud provider – regardless of the specific needs and nuances of each individual workload.
Story image
Market growth
Salesforce unveils new offerings for consumer goods companies
Salesforce has announced new products for consumer goods companies to help brands navigate increasing market complexity more easily.
Story image
Talend
Forrester names Talend Leader in enterprise data fabric
Forrester has named Talend a leader among enterprise data fabric providers in the Forrester Wave: Enterprise Data Fabric, Q2 2022 report.
Story image
Artificial Intelligence
Juniper study reveals top AI trends in APAC region
Juniper's research shows an increase in enterprise artificial intelligence adoption over the last 12 months is yielding tangible benefits to organisations.
Story image
Data ownership
Brands must reclaim trust by empowering data ownership
According to Twilio's new State of Personalisation Report 2022, 62% of consumers expect personalisation from brands, and yet only 40% trust brands to use their data responsibly and keep it safe.
Story image
Collaboration
IT and security team collaboration crucial to data security
Many IT and security decision makers are not collaborating as effectively as possible to address growing cyber threats.
Story image
Cryptocurrency
NOWPayments launches new service to analyse cryptocurrency fees
NOWPayments has launched a new network fee optimisation solution that analyses current network fees and picks the most profitable option out of the client's payout wallets.
Story image
Airwallex
How Airwallex helps businesses achieve globalisation success
As markets continue to shift, businesses need to be able to provide the same quality of service for customers regardless of where they are located around the world.
Story image
Remote Working
RDP attacks on the rise, Kaspersky experts offer advice
"Given that remote work is here to stay, we urge companies to seriously look into securing their remote and hybrid workforce to protect their data."
Story image
Cybersecurity
Tech and data’s role in the changing face of compliance
Accenture's study found that 93% of respondents agree or strongly agree new technologies such as AI and cloud make compliance easier.
Story image
Cybersecurity
Vulnerable APIs costing businesses billions every year
Large companies are particularly vulnerable to the security risks associated with exposed or unprotected APIs as they accelerate digital transformation.  
Story image
Robotic Process Automation / RPA
Salesforce announces latest generation of MuleSoft
Salesforce has introduced the next generation of MuleSoft, a unified solution for automation, integration and APIs to automate any workflow.
Story image
Artificial Intelligence
Accenture shares the benefits of supply chain visibility
It's clear that gaining better visibility into the supply chain will help organisations avoid excess costs, inefficiencies, and complexity to ultimately improve their bottom line.
Story image
Partnerships
Thailand announces launch of the Thailand 5G Alliance
It will promote collaboration between the public and private sector, through companies such as Huawei, to commercially drive Thailand's 5G development.
Story image
Cybersecurity
Video: 10 Minute IT Jams - An update from CrowdStrike
Scott Jarkoff joins us today to discuss current trends in the cyber threat landscape, and the reporting work CrowdStrike is doing to prevent further cyber harm.
Story image
Infrastructure
Global investment in data centers more than doubled in 2021
DLA Piper's latest global survey finds the total investment in data center infrastructure worldwide rose from USD $24.4 billion in 2020 to USD $53.8 billion in 2021.
Story image
Public Cloud
Public cloud services revenues top $400 billion in 2021
"For the next several years, leading cloud providers will play a critical role in helping enterprises navigate the current storms of disruption."
Story image
Cloud
Cloudflare outage in 19 data centers worldwide due to own error
Cloudflare says its outage for 19 of its data centers yesterday was because of a change in a long-running project to increase resilience in its busiest locations.
Story image
Artificial Intelligence
Siemens expands NVIDIA partnership for industrial metaverse
Siemens is expanding its partnership with NVIDIA to enable the industrial metaverse and increase the use of AI-driven digital twin technology.
Story image
State Library of Victoria
State Library of Victoria entrusts Oracle support and security to Rimini Street
“Our finance team are very happy with the support and security that Rimini Street provides, which keeps our assets and our customers secure."