PRESS RELEASE
Mambu and Avenga power Marginalen Bank’s core banking transformation with successful cloud migration
Stockholm, 10th June 2025
Mambu, the leading core cloud banking platform, and Avenga, a leading system integrator, have successfully migrated Marginalen Bank, an innovative digital bank in Sweden from its legacy core to Mambu in just 13 months achieving rapid time to market for its new consumer and business deposits and offering a future-ready banking approach.
Founded in 2010 following the acquisition of Citibank’s Swedish consumer bank, Marginalen Bank believes that as many people as possible should have access to simple and clear financial products. Marginalen Bank provides a broad range of financial services for individuals and businesses, and is committed to evolving in line with their needs and the rapid technological development in the market.
By migrating to Mambu’s API-driven, core banking platform underpinned by Microsoft Azure Cloud Marginalen Bank has replaced its legacy systems, significantly improving its agility, scalability, and cost – efficiency. The cloud-native architecture now allows the bank to rapidly launch its financial products, delivering modern banking experiences while maintaining full compliance with Nordic financial regulations.
“Our goal has always been to simplify our customers’ everyday financial lives, and to do so, we need a strong, scalable infrastructure. Mambu’s composable banking approach perfectly complements Marginalen’s technology strategy. We’ve been able to seamlessly migrate to the modern core and future-proof our technology.
The collaboration with Mambu and our long-term technology partner Avenga has been seamless, allowing us to migrate to the cloud and modernise our consumer and business deposit offering and we’re excited about the opportunities it brings as we grow in the market.”
Bo Andersson
Chief Information Officer
Marginalen Bank
“In today’s financial ecosystem, the core banking platform is the foundation on which all innovation is built and Nordic banks are actively seeking to upgrade. However many question whether there are viable alternatives available in the region.
The successful go-live of Marginalen Bank with Mambu underscores that change is not only possible—it’s happening. By working closely with our extensive ecosystem of partners, Mambu is transforming the Nordic banking landscape, proving that Mambu is a mature and future-proof alternative for banks looking to break free from legacy systems. We’re thrilled to see Marginalen bring their vision to life on Mambu and look forward to supporting their journey of growth and innovation.”
Mark Geneste
Chief Revenue Officer
Mambu
Avenga played a crucial role in the project, leading the decommissioning of Marginalen’s legacy core banking system and ensuring a fully integrated, cloud-first architecture. The project ensured full data migration and integration across the bank’s ecosystem, including Data Warehousing (DWH), Core Banking System (CBS), microservices, and local third-party providers.
“Successfully migrating a bank’s core system in just 13 months is a highly complex process, requiring deep expertise in cloud-native architectures, regulatory frameworks, and seamless integration across a bank’s ecosystem. As a long-term technology partner of Marginalen Bank, we are proud to have played a key role in modernising their banking infrastructure.
Our team ensured a fully compliant, zero-downtime transition by orchestrating data migration, system decommissioning, and integration of core banking services, microservices, and third-party providers. This transformation not only enhances Marginalen’s operational efficiency and scalability but also positions them to rapidly introduce new financial products in response to market demands.
At Avenga, we specialise in delivering high-impact core banking modernisation, and this successful collaboration with Mambu exemplifies how banks can de-risk their digital transformation while accelerating innovation.”
Peter Stros
SVP Banking and Financial Services
Avenga
“The Nordic banking sector is undergoing a significant transformation, with financial institutions modernising their infrastructures to stay competitive and meet evolving customer expectations. Together with Mambu and Avenga, we are helping banks like Marginalen accelerate their cloud transformation, enabling them to scale efficiently while maintaining the region’s stringent security and compliance standards.
By leveraging Microsoft Azure, Mambu’s composable banking platform and Avenga’s engineering we help Nordic banks shorten time to market, simplify operations, and drive innovation. This collaboration underscores our shared commitment to equipping Nordic banks with the technology they need to thrive in a digital-first world.”
Ingmar Boon
Digital Natives EMEA Lead
Microsoft
Marginalen Bank joins a growing roster of financial institutions in Scandinavia leveraging Mambu’s SaaS cloud banking platform, including Stockholm-based Nordiska, Denmark’s Kompasbank and many more. With Mambu, these institutions are empowered to deliver exceptional banking experiences today while staying future-ready for tomorrow.
About Marginalen Bank
Marginalen Bank offers some of the market's best savings accounts, cards, insurance and various types of financing to people and companies. With the ambition to create greater margins in the customer's everyday life, Marginalen Bank is involved and fulfils goals and dreams. By creating a financial advantage for people and companies looking for a bank and a partner that doesn't just look at numbers, but just as much at ideas and the future - Marginalen Bank is also involved and contributing to a better world. The Marginalen Bank group has 300 employees spread over offices in Stockholm, Skellefteå and Hudiksvall and is owned by the parent company Marginalen AB. Marginalen Bank Bankaktiebolag is certified according to ISO 9001:2015 and is under the supervision of the Financial Supervisory Authority. All deposit accounts are covered by the government's deposit guarantee.
About Mambu
Mambu is the world’s only true SaaS cloud banking platform. Launched in 2011, Mambu fast-tracks the design and build of nearly any type of financial offering for banks of all sizes, lenders, fintechs, retailers, telcos and more. Our unique composable approach means that independent components, systems and connectors can be assembled in any configuration to meet business needs and end user demands. Mambu supports over 260 customers in over 65 countries - including Western Union, Commonwealth Bank of Australia, N26, BancoEstado, Raiffeisen Bank, ABN AMRO and Bank Islam. www.mambu.com
About Avenga
Avenga is a global consultancy and technology solutions partner, creating tailored solutions to solve complex business and societal challenges.
With more than 6,000 experts worldwide, we provide a full spectrum of services, including business and technology advisory, enterprise platforms, customer experience (CX), UX/UI design, managed services, product engineering, and custom software development. We support a broad range of industries, from telecom and satellite operators to banking, manufacturing, automotive, and life sciences, helping our clients move toward AI-first transformation.
Our AI capabilities are embedded across all offerings, enabling organizations to drive intelligent automation, accelerate decision-making, and deliver highly personalized user experiences.
Avenga is part of the KKCG Group, a family-owned investment company with expertise across entertainment, energy, technology, and real estate. KKCG operates a portfolio of high-performing companies under the visionary leadership of its founder, Karel Komárek.
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