Mambu, a leading SaaS cloud banking platform, has made a strategic move by becoming one of the first core banking providers on AWS Marketplace, strengthening its decade-long partnership with Amazon Web Services. This integration simplifies the cloud transition for financial organizations, enabling them to adapt swiftly to evolving customer demands while McKinsey’s research underlines the sector’s significant shift towards the public cloud.
1 November 2023 – In a groundbreaking move, Mambu, a distinguished Software as a Service (SaaS) cloud banking platform, has officially announced its integration into the AWS Marketplace, establishing itself as one of the premier core banking providers within this platform. AWS Marketplace, renowned for its extensive digital catalog housing thousands of software listings, plays a pivotal role in streamlining the procurement, testing, and deployment of software optimized for Amazon Web Services (AWS).
Mambu and AWS have fortified their decade-long partnership, enabling Mambu to not only broaden its global footprint but also to seamlessly deliver its core banking services to a diverse clientele. A robust network of over 200 shared customers, including esteemed institutions such as N26, BancoEstado, and Western Union, have leveraged Mambu’s cloud banking prowess on AWS. This strategic integration promises to simplify the cloud transition for financial organizations, facilitating infrastructure modernization to adapt swiftly to evolving customer behaviors and expectations.
Manav Daryanani, Director of Global Partnership Development at Mambu, underscored the commitment to their shared vision of empowering clients with a resilient cloud infrastructure. He emphasized the significance of making Mambu available on AWS Marketplace, expressing eagerness for the ensuing collaboration’s potential to provide more financial institutions with a cutting-edge core banking system.
Leading the way, Chetwood Financial, a pioneering UK digital bank, is the inaugural adopter of Mambu’s cloud banking platform on AWS Marketplace. This adoption offers Chetwood Financial the agility to scale and configure deposit products promptly, leveraging cloud technology to simplify and expedite access to financial services, thereby reinforcing the institution’s focus on delivering distinctive and innovative financial solutions.
Mark Contreras, Chief Technology Officer at Chetwood Financial, attested to the value of cloud technology in keeping costs low while maintaining a high degree of innovation and security. This alignment between Mambu and Chetwood Financial foretells a future focused on tailored solutions to meet the unique needs of their customers.
McKinsey’s recent research findings illuminate the trend in the financial services sector, with 54 percent of industry leaders anticipating the shift of at least half of their workloads to the public cloud in the next five years. This transformation aligns with the evolving landscape of digital-first, innovative banking services, unlocking business efficiencies and use cases while optimizing operational costs.