Spanish bank Ibercaja Banco has joined forces with software as a service (SaaS) cloud-based banking platform Mambu to introduce a new consumer finance entity.
The launch of the new entity, anticipated to begin earlier this year, will be executed in a phased manner.
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This collaboration is part of the bank’s efforts to modernise its consumer finance operations, improving scalability, responsiveness, and speed to market.
The launch will begin with Ibercaja Technology Solutions, a newly established division focused on innovation in consumer finance and payments.
The initiative aims to enhance Ibercaja’s lending services while gradually updating its existing technology infrastructure.
Commenting on the partnership, Ibercaja CIO Leandro Hermida Brañas said Mambu’s “expertise and experience are key to accelerating Ibercaja’s technological transformation and market expansion, fully aligning with our vision and technological strategy.
“Our goal is to lead the Spanish consumer finance market through technological leadership and an exceptional customer experience. With Mambu’s composable API-first platform and extensive partner ecosystem, we aim to reach 200,000 new customers within five years and later deliver future-ready, sustainable financial solutions to our existing customers.”
Ibercaja, which manages €97.9bn in assets for over 2.5 million customers, plans to migrate its consumer finance operations to Mambu’s cloud-native platform, supported by Amazon Web Services (AWS).
Through this collaboration, Ibercaja joins a network of banks that have leveraged Mambu’s platform for modernisation, including Raiffeisen Bank, ABN AMRO, BancoEstado, and Commonwealth Bank of Australia.
Mambu chief revenue officer Mark Geneste said: “We are delighted to support Ibercaja in reimagining consumer finance in Spain, enabling transformational growth through our platform. This partnership underscores our commitment to fostering long-term, sustainable growth for established financial institutions.”
