Mambu, the leading SaaS cloud banking platform, today announced a strategic collaboration with Nyla, Africa’s first Islamic neobank, to power its shari’ah-compliant digital banking infrastructure as it launches in Ghana and prepares for expansion across West Africa.

The partnership marks a significant milestone for Mambu’s Islamic banking offering on the African continent, bringing scalable, cloud-native infrastructure to an underserved market.

Islamic finance represents a global market exceeding $7 trillion. However, Africa accounts for just 2% of the industry, despite strong demand for ethical, values-based financial services across Muslim-majority and underserved communities. Nyla is addressing this gap with a digital-first, values-driven model, utilising Mambu’s SaaS, API-first cloud banking platform to launch quickly without building core infrastructure from scratch. At launch, Nyla will offer digital current and savings wallets, peer-to-peer transfers, bill payments, and card-linked accounts.

Mambu's core banking engine powers Nyla's ambition to expand into a full-service pan-African digital Islamic bank by enabling account creation, product configuration, balance management and transaction processing across its suite of digital financial services. This composable foundation, running on Amazon Web Services (AWS) will allow Nyla to scale efficiently across multiple African markets— including Nigeria, Senegal, and Gambia, leveraging Mambu’s multi-country scalability to enter new regulatory environments.

Mambu’s Islamic banking offering provides a modern, cloud-native foundation for financial institutions to deliver Shari’ah-compliant services alongside or independent of conventional banking. Mambu’s comprehensive Islamic funding suite supports a diverse range of deposit and investment products, including transactional accounts, fixed deposits, and savings plans utilising key contracts.