6 July 2023
Mambu’s availability on Google Cloud Marketplace unlocks new opportunities for fintechs, neobanks, traditional banks, and non-financial institutions to leverage cloud technology.
Mambu, a leading Software-as-a-Service (SaaS) cloud banking platform, has announced its availability on the Google Cloud Marketplace, enabling fintechs, neobanks, traditional banks, and non-financial institutions to leverage the power of cloud technology.
This announcement strengthens Mambu’s existing partnership with Google Cloud, which has facilitated the global expansion of its core banking services. By making Mambu accessible on the Google Cloud Marketplace, a wider range of customers can benefit from a highly scalable and secure platform, gain open access to new markets, and significantly reduce time to market when launching innovative financial products.
This development comes at a crucial time as legacy financial institutions face potential profit declines of 20 to 60 percent by 2025 if they fail to embrace digital transformation, as per McKinsey research. Today’s financial institutions are reevaluating their banking platforms, and cloud migration is becoming increasingly popular. In fact, 88 percent of financial institutions agree that cloud adoption can help them adapt to changing customer behaviors and expectations, enhance operational resilience, and foster the creation of new products and services, according to a Google Cloud study.
William Dale, Regional Vice President APAC at Mambu, emphasized the need for banks to evolve digitally, stating, “Banks were built to last, but today they need to be built to change.” Mambu, as a cloud-native SaaS solution, manages its customers’ infrastructure in the cloud, allowing for greater control over costs, performance, security, and scalability. By joining the Google Cloud Marketplace, Mambu aims to extend its collaboration with Google Cloud and reach a wider audience of financial institutions seeking faster time-to-market and enhanced flexibility. The partnership between Mambu and Google Cloud aims to deliver a modern core banking system capable of meeting the demands of today’s financial landscape.
Toby Brown, Managing Director of Global Banking Solutions at Google Cloud, stressed the importance of banks adopting new core banking technology to remain competitive. The partnership between Mambu and Google Cloud enables Mambu to tap into new markets and expand its global customer base by leveraging Google Cloud’s scalable and secure cloud technology. Both companies are working together on joint business strategies to support more financial customers in creating next-generation banking experiences.
Among the shared customers leveraging Mambu’s cloud banking platform on Google Cloud are bob Finance, a digital financial services provider based in Zurich, Bank Jago, a listed bank in Indonesia, and Libertad Soluciones de Vida, an established microfinance entity in Mexico. These partnerships demonstrate the combined capabilities of Mambu and Google Cloud in meeting the increasing demand for seamless digital banking and financial experiences on a global scale.