German digital bank N26 has deployed Mambu’s core banking system served on SaaS basis, to integrate systems and bring services to market quickly.
The bank went live with the Mambu platform in October 2016 and rolled out a loan product on the platform in February this year. The technology vendor also upgraded its current account and overdraft feature to meet the transactional requirements of the bank.
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N26, which currently has a customer base of 500,000, moved to Mambu’s platform after it secured a banking licence in July 2016. Before that, the digital lender used the services of a partner bank.
N26 chief technology officer Gino Cordt said: “Mambu allowed us to cut our core operating costs drastically by minimising our IT resource requirements, helping us create the FinTech hub to meet the needs of our experience focused customers.
“Mambu’s ease of integration, flexibility and time to market has helped us to give our customers an unrivalled, technology-driven mobile banking experience.”
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By GlobalData
