What does the development mean for stakeholders?
The fintech’s cloud approach allows complete flexibility for customers to meet ambitious expansion plans seamlessly, giving customers the choice to use the most secure, reliable and high-performance technology stack available. Mambu customers have a choice of provider based on their specific business, technical and regulatory requirements, located in the same or a different geographical region, without impacting availability or service levels.
For decades, legacy tech solutions have been slow to implement but now, using Mambu’s cloud banking platform, products can be pushed to market in weeks and over 95% of core banking transformations go live in months. Mambu’s platform provides components that can be selected and assembled in various combinations to satisfy specific user requirements.
This aids financial institutions to modernise their infrastructure, meet changing customer behaviours, and drive business growth. It also promises more client choice, a secure foundation to meet security standards and high reliability for all three cloud providers.
What were the executive’s thoughts on the development?
Paul Apolony, General Manager ANZ at Mambu, said: “We’re at a pivotal stage in our growth, and implementing this extended approach will allow us to continue providing the best service for clients. Many tech providers rely on public cloud services; however, Mambu’s extended deployment flexibility meets the growing demands for performance, security, and reliability.”
“Having the opportunity to work with three of the leading cloud providers supporting over 230 banks and non-bank financial institutions globally is a game changer,” Apolony said.
“Financial institutions’ choice of cloud service provider is influenced by strategy, existing relationships, availability of services and hosting requirements. The general availability of these cloud providers on Mambu will help us continue to create better financial experiences for existing and new customers in Australia and New Zealand and across the globe.”
The announcement follows a record US$235 million Series E funding round for Mambu in December last year — the largest private fundraise for a cloud banking platform.