MACHBANK: transforming financial inclusion in Chile with Mambu

Breaking financial barriers for millions in Chile

Powered by Mambu, MACH launched its banking services in 2017 to improve financial inclusion in Chile. In just 3 years, it grew to become the country's second largest bank.

Read the full case study

: months to market

: largest bank in Chile

: million customers

MACHBANK

About the customer

Chilean financial institution Banco de Crédito e Inversiones (Bci) set out to make financial services accessible to everyone, with a focus on the unbanked population.

In 2017, they launched MACHBANK, a digital bank, to offer a fully digital wallet, payment card and transfer services that has since become one of Latin America’s most dynamic fintechs. With over 4.2 million users both locals and foreigners, MACHBANK is transforming financial inclusion by providing digital banking services to those who have difficulty accessing traditional banks.

180,000+ foreigners use the app in Chile

55,000+ people over the age of 60 use the app

The challenge

Overcoming legacy to enable growth

MACHBANK needed to replace its legacy system with a modern, scalable SaaS solution that could support its rapid growth and high user demands while offering a high level of flexibility. Additionally, its parent company, Bci, required strong assurances regarding platform security and the reliability of the new cloud banking provider.

The new platform had to integrate seamlessly through APIs and meet the evolving needs of both MACHBANK and Bci.

“We selected Mambu because we needed a SaaS solution that focuses on experiences and that would not lock us in. It is an elegant, simple, and flexible solution.”

- CTO, MACHBANK

The solution

Cloud-native transformation with Mambu

MACHBANK chose Mambu to migrate its existing customer base to a cloud-native, composable banking platform underpinned by Amazon Web Services (AWS). Mambu's flexibility and ease of integration enabled MACHBANK to quickly complete the migration and shift its focus to value-added development instead of system maintenance, as Mambu handled all infrastructure and upkeep.

Explore MACH's migration approach

The result

Rapid scalability and market leadership

MACHBANK was the first neobank to provide digital bank accounts in Chile going live in just 12 months, achieving rapid scalability and delivering exceptional user experiences. It quickly became the second-largest bank in Chile by customer base, reaching 2.6 million users within three years. By leveraging Mambu, MACHBANK reduced fixed technology costs, accelerated innovation, and maintained the flexibility to adapt to changing market demands.