A new banking era for Latvians—powered by Mambu
As the first bank licensed in Latvia since joining the Eurozone, INDEXO has launched a full-service banking experience in just over a year.
- 0 year
- to successfully go to market
INDEXO Bank
About the customer
Founded in 2017 and based in Latvia, INDEXO is a financial services group that includes pension management companies and INDEXO Bank.
As one of the fastest-growing financial service groups in Latvia, INDEXO is committed to enhancing the financial landscape by providing modern and personalised services.
The group is publicly listed on the Nasdaq Riga stock exchange and is owned by several thousand local shareholders.
The challenge
A digital bank to reshape Latvia's financial landscape
Latvia’s banking market has long been dominated by four large foreign banks, whose outdated and often impersonal services no longer meet the expectations of today’s customers. Faced with a stagnant and uncompetitive environment, INDEXO set out to create a modern digital bank—built in Latvia, for the people of Latvia.
To do this, they needed a cutting-edge and flexible technology platform that could support rapid innovation, scale efficiently, and deliver an exceptional banking experience from day one. The mission was clear: to offer convenient, transparent, and fair financial services that empower individuals and contribute to the country’s long-term economic growth.
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