Ingrid Lunden / TechCrunch:Berlin-based Mambu, which offers a SaaS platform providing banking services via APIs, raises 100M led by TCV, at a post-money valuation of 1.7BChallenger banks, incumbent banks, and all of the many businesses that are making inroads into any kind of banking service
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Banking has evolved rapidly over the past few years, and it is no longer confined to traditional brick-and-mortar institutions. With the advent of digital technology, banking services have become more accessible, flexible, and personalized. Mambu is one such fintech company that is disrupting the banking industry with its Software as a Service (SaaS) platform. In this article, we will explore how Mambu is transforming the banking landscape and why it is gaining traction among financial institutions worldwide.
What is Mambu?
Mambu is a cloud-based SaaS platform that provides core banking services to financial institutions such as banks, credit unions, and microfinance organizations. It was founded in 2011 by Eugene Danilkis and Frederik Pfisterer and is headquartered in Berlin, Germany. Mambu’s mission is to enable financial institutions to provide banking services that are flexible, scalable, and customer-centric. Its platform offers a range of services such as account management, loans, deposits, payments, and analytics, among others.
How does Mambu work?
Mambu’s platform is based on a complete guide to day trading modular architecture that allows financial institutions to pick and choose the services they need. The platform is highly customizable, which means that financial institutions can configure the platform to meet their specific requirements. Mambu’s platform is also highly scalable, which means that financial institutions can easily add or remove services as their business grows or changes.
One of the key features of Mambu’s platform is its open API, which enables financial institutions to integrate with third-party services such as payment gateways, credit bureaus, and accounting software. This means that financial institutions can offer a seamless banking experience to their customers without having to build everything from scratch.
What are the benefits of using Mambu’s platform?
Mambu’s platform offers several benefits to financial institutions. Firstly, it is cost-effective, as financial institutions only pay for the services they use. Secondly, it is highly flexible, which means that financial institutions can offer customized banking services to their customers. Thirdly, it is scalable, which means that financial institutions can easily add or remove services as their business grows or changes. Fourthly, it is secure, as Mambu uses industry-standard security measures to protect its platform from cyber threats.
What are some examples of financial institutions using Mambu’s platform?
Mambu’s platform has been adopted by financial institutions worldwide, ranging from small microfinance organizations to large banks. For example, Fincomún, a Mexican microfinance organization, uses Mambu’s platform to provide loans and other financial services to underserved communities in Mexico. Similarly, N26, a German online bank, uses Mambu’s platform to offer a range of banking services to its customers across Europe.
Conclusion
Mambu’s SaaS platform is revolutionizing the banking industry by providing financial institutions with a flexible, scalable, and cost-effective way to offer banking services to their customers. Its open API and modular architecture make it easy for financial institutions to customize their banking services and integrate with third-party services. As more financial institutions adopt Mambu’s platform, we can expect to see a more customer-centric and accessible banking industry in the future.
