Argentine Banco Itaú's speedboat
ank provides solutions for banked people who want to manage their finances in a simple, intuitive and secure way. ank is the first open app that allows its clients to send money from any bank to any bank account or virtual wallet in the country.
ank is a speedboat from Banco Itaú Unibanco, the largest private sector bank in Latin America with over 60M clients. ank is built upon the greenfield approach and is 100% cloud based.
ank's main objective is to provide a simple, intuitive, secure and free way to send money between people, eliminating the time and stress generated by managing multiple bank accounts, complex keys that expire, password cards or tokens. To benefit from that level of flexibility ank needed a cloud-native partner that would be quick and easy to configure, allow integration through APIs and keep their maintenance costs low.
ank & Mambu
ank chose Mambu because of a great technical fit. As an extremely tech savvy team, ank required very little assistance with integrations and APIs. Mambu’s highly flexible composable platform is easy to configure and supports all of ank’s requirements, some of which are:
- P2P transfers,
- specific third-party integrations.
MVP in record time
The tech team kicked off the projects on July 7, 2020 and the first MVP (internal clients) went live on July 20, after only 13 days. The MVP, a digital wallet with current account, was released to external customers on October 14.
The extremely fast time to market had mostly to do with ank’s tech team’s experience and the work carried out with Mambu’s pre-sales team, which, based on the requirements and challenges, provided very effective recommendations about Mambu and the financial services in Argentina.
Today ank’s application is available for download in the Apple App store and Google Play. Within the first year, the fintech expects to expand services further to include debit/credit cards and loans.