ARTICLE
Composable banking myth #1: a one stop shop vendor is easier than composable
21 March 2023
João Caldeira, Deloitte Global Digital Banking solutions leader, discusses the myths around composable banking. The first myth: it is easier and more effective to have a single vendor than a composable approach to the design and delivery of financial services.
Myth debunked
Let’s face it: composable banking is the future. One stop shop is the past.
As solutions become smarter and faster, no single vendor can innovate at pace on every front. Single-vendor solutions generally mean organisations are locked-in to one solution, making it harder to mitigate obstacles when they arise.
In addition, one-stop-shop vendors are perceived to be safer, due to being a single point of accountability. The truth is that a single vendor experience can still exist with composable architecture, by working with consultancy partners who can front the projects.
In fact, in today’s ever-changing financial landscape, the benefits of composable – from architecture, to implementation and ongoing updates – offer financial institutions an agile solution, which makes it easier to meet new challenges.
Whether it’s navigating through the in-country payment regulation landscape, or getting ahead of emerging fintechs: no single vendor can provide best of breed components to effectively meet the needs of today’s world.
Let’s face it: composable banking is the future. One stop shop is the past.
As solutions become smarter and faster, no single vendor can innovate at pace on every front. Single-vendor solutions generally mean organisations are locked-in to one solution, making it harder to mitigate obstacles when they arise.
In addition, one-stop-shop vendors are perceived to be safer, due to being a single point of accountability. The truth is that a single vendor experience can still exist with composable architecture, by working with consultancy partners who can front the projects.
In fact, in today’s ever-changing financial landscape, the benefits of composable – from architecture, to implementation and ongoing updates – offer financial institutions an agile solution, which makes it easier to meet new challenges.
Whether it’s navigating through the in-country payment regulation landscape, or getting ahead of emerging fintechs: no single vendor can provide best of breed components to effectively meet the needs of today’s world.
Fractional, incremental transformation increases speed-to-market
Gone are the days where innovation requires teams spending time on developing complex, bespoke code.
Instead, a low-code/no-code composable banking platform, like Mambu, significantly improves go-to-market time for customers: with 95% introducing new products before traditional competitors and reducing implementation time from an industry average of 100 weeks to just six to 12. A great example of this is Western Union, who launched two digital banks with Deloitte and Mambu in less than a year – an incredible feat.
Fractional and more incremental change reduces the transformation risk and provides organisations with real-time ROI.
Gone are the days where innovation requires teams spending time on developing complex, bespoke code.
Instead, a low-code/no-code composable banking platform, like Mambu, significantly improves go-to-market time for customers: with 95% introducing new products before traditional competitors and reducing implementation time from an industry average of 100 weeks to just six to 12. A great example of this is Western Union, who launched two digital banks with Deloitte and Mambu in less than a year – an incredible feat.
Fractional and more incremental change reduces the transformation risk and provides organisations with real-time ROI.
© Mambu 2026