On Google Cloud Marketplace, Mambu enables more financial institutions to migrate their legacy core banking systems to the cloud
SINGAPORE, 6 July 2023—Mambu, a leading SaaS cloud banking platform, today announced it is now available on Google Cloud Marketplace. This opens the door for more fintechs, neobanks, traditional banks, and non-financial institutions to embrace cloud technology.
The announcement builds on Mambu’s existing partnership with Google Cloud, which has allowed the fintech to expand its reach and seamlessly deliver its core banking services globally. By making Mambu available on Google Cloud Marketplace, more shared customers enjoy a highly scalable, secure platform, with open access to new markets, and above all, a decreased time to market as they launch innovative financial products.
This comes at a time where legacy financial institutions will see profits decline by up to 20 to 60 percent by 2025 if they fail to evolve digitally, according to McKinsey research. As today’s financial institutions are reviewing their banking platforms, many are turning to cloud migrations—with 88 percent agreeing that cloud adoption can help adapt to changing customer behaviours and expectations, enhance operational resilience, and support the creation of new products and services, according to a Google Cloud study.
William Dale, Regional Vice President APAC at Mambu, said: “Banks were built to last, but today they need to be built to change. As a cloud-native SaaS offering, Mambu fully manages its customers’ infrastructure in the cloud. Our strategic partnership with Google Cloud has given us greater control over costs, performance, security and scalability, which we then pass on to our customers. As an extension of this global collaboration, joining the Google Cloud Marketplace allows us to reach even more financial institutions looking to bring solutions to market faster and with greater flexibility. We look forward to partnering with Google Cloud on go-to-market efforts and together delivering a modern core banking system capable of meeting modern demands.”
Toby Brown, Managing Director, Global Banking Solutions, Google Cloud: “To stay competitive, it’s crucial for banks to embrace new core banking technology. Mambu’s partnership with Google Cloud enables the company to unlock new markets and expand its customer base globally by leveraging our scalable, secure cloud technology and working together on joint business strategies. We are pleased to work with Mambu as they support more financial customers in building truly next-generation experiences.”
Shared customers include bob Finance, a Zurich-based digital financial services provider, Bank Jago, an Indonesian-listed bank, and Libertad Soluciones de Vida, an established microfinance entity in Mexico, all of which leverage Mambu’s cloud banking platform on Google Cloud. The combined power of Mambu and Google Cloud will serve the demand for seamless digital banking and financial experiences on a global scale.
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Mambu is the world’s only true SaaS 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, fintechs, retailers, telcos and more. Our 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 supports 280 customers in over 65 countries, with customers including Western Union, Commonwealth Bank of Australia, N26, BancoEstado, Raiffeisen Bank, ABN AMRO, Bank Islam and Orange Bank. www.mambu.com