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Putting innovation first


Tyro is a fast-growing Australian business bank that offers payments and value-adding banking products to more than 66,000 merchants. Recognised as a ‘technology-led disruptor to the Australian payments industry’, Tyro is built on a foundation of innovation - from becoming the first Australian tech company to obtain an acquirer bank licence, to being the first acquirer to enable its customers to save on fees with the country’s first least cost-routing solution.

Customer base

66 000+


Business banking

Mambu's role

Cloud banking platform

Founded in 2003, Tyro is a technology-focused and values-driven company providing more than 66,000 Australian businesses with payment solutions and value-adding business banking products.
The overwhelming majority of Tyro customers are SMEs who value having the flexibility to manage their cash flow at times and in a way that suits them best. This is why Tyro’s product portfolio is made up of simple, flexible and reliable payment solutions as a merchant acquirer, along with complementary business banking products.

We understand it’s not possible for all businesses to do their banking between 9 and 5, Monday to Friday, and we’ve built our solutions accordingly.
Jonathan Davey
CEO, Tyro

In 2019 Tyro made a decision to add a term deposit product to their suite of finance products to help customers apply, manage and view their term deposits on the go, via mobile.

Tyro & Mambu

When Tyro and Mambu partnered in 2019, Tyro became the first Australian authorised deposit-taking institution to adopt Mambu’s pure SaaS banking platform.

To build the new product, Tyro was searching for a solution that would be easy to configure and integrate into their existing ecosystem. Mambu’s composable platform offered that level of flexibility and this functionality played a key role in enabling Tyro to build the Tyro Term Deposit product end-to-end in just three months. Within these three months Tyro managed to spin up a completely new core banking ledger, pilot it and then launch a brand new product in the market.

Mambu is API-driven and developer-friendly, a key characteristic that allowed Tyro to develop custom solutions as per their needs. Unlike traditional core banking platforms, Mambu is based on a composable architecture allowing users to pick and choose components according to their needs.

Now that we’ve integrated the solution, we will continue to use the Mambu platform to deliver even more innovative solutions for our customers.
Paul Keen
CTO, Tyro

Adopting Mambu’s platform has freed up Tyro’s engineering team to focus on delivering innovative features and products for their customers while significantly reducing time to market. This is in line with Tyro’s mission to simplify banking and payments for Australian businesses.

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Better business banking. Tyro
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The product

Tyro Business Term Deposit allows Tyro’s 66,000+ customers to manage all of their banking and payments needs in the Tyro App. They can apply for a Tyro Business Loan, lock away savings at competitive rates, schedule auto-payments and monitor their transactions in real time. Customers also receive real time notifications and maturity reminders to take away the hassle of remembering maturity dates.

The Tyro Business Term Deposit is Tyro’s first savings-focused product since the attainment of a banking licence in FY16. Like all of Tyro’s products, Tyro Business Term Deposit is a completely digital product flow from the application to the maturity of the term deposits. The customer journey is 100% digital and paperless  - from onboarding to signing.

Following a successful pilot in December 2019, Tyro Business Term Deposit is the first product delivered on the Mambu’s cloud-native banking platform, and it was released to all Tyro’s customers on July 1, 2020. Read press release here


Since the product became generally available, Tyro has seen a number of customers opt to take up a new term deposit immediately after their initial term has ended or take up multiple term deposits at the same time. Tyro’s new extended offering has received positive feedback from customers who appreciate the ease of the application process as well as the fully digital and transparent customer journey.

As many businesses continue to navigate the challenging and uncertain times of the COVID-19 pandemic, the timing of this product gave Tyro’s customers an opportunity to lock away savings at highly competitive rates. The lower minimum balances have broadened the appeal of the product to a larger group of customers, while the 100% digital product flow means they aren’t bogged down in paperwork during a period when their time is more valuable than ever.

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