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Creating new opportunities across Africa

Success story

Carbon Finance, a Pan-African microfinance bank, offers a full-spectrum of banking products and services, and Carbon Zero, its new 'Buy now, pay later' (BNPL) product.

Customer base




Mambu's role

Cloud banking platform

Carbon is a credit-led, Pan-African digital bank. The company's headquarters are in Lagos, Nigeria, with operations in Nigeria, Ghana, and Kenya. Carbon is a worldwide corporation with over 150 employees.

Founded in 2012 as One Credit to give loans to salary earners in Lagos, Carbon’s first rebrand was when it became Pay Later in March 2016 and introduced a raft of alternative services like bill payments, airtime purchases, and started issuing free credit reports to users.

Carbon is a long-standing customer of Mambu that began as a lending platform in Nigeria. Geared for future expansion from launch, Carbon selected Mambu's cloud-native banking platform for the ability to scale and flexibility to disburse instant loans in minutes, helping the lender build credibility in the market.

carbon mambu partnership

In 2020 Carbon received a banking licence and kicked off rapid evolution into a full-service, customer-centric bank. Mambu's API-enabled composable technology allowed Carbon to build daily banking services and e-wallets through partner integrations. Today the microfinance bank offers a zero-fee account, instant loans, free money transfers, savings and investments options at market-leading rates, and simplifies payments like airtime and bill payments.

Chijioke Dozie, CEO of Carbon Finance, said: “We engaged Mambu a decade ago because it ticked all the boxes as a cloud banking platform. We were looking for great customer service and a robust cloud-native platform. Combining Mambu with our architecture allows us to continue scaling and make a real difference to the lives of our customers. We see a future where modern banking experiences are accessible to all, and this further collaboration with Mambu takes us one step closer to that vision."

Combining Mambu with our architecture allows us to continue scaling and make a real difference to the lives of our customers.
Chijioke Dozie
CEO of Carbon Finance

The capability to innovate at speed and introduce new products and features quickly is a competitive advantage for Carbon. With growing demand for split payment options among consumers, the bank launched its new BNPL product Carbon Zero to help customers get products and services in areas such as healthcare, finance, travel and wellness.

Ikenna Okwukaogu, VP Engineering of Carbon Finance, added: “Our initial implementation of Mambu was quick and took only a month to fully integrate the cloud platform into our processes. Since then, we have extended our use of Mambu, and rolling out new products and services typically is just a matter of a few hours at most."