Mambu announced today that Tandem Bank is live on its SaaS banking platform, completing a full rebuild of the Tandem platform. Ten months after signing, the implementation was finalised at lighting speed, followed by a four-month beta in late 2020 and full rollout in early February 2021.
With two leading fintechs working closely together, all customer accounts - split between savings, loans and mortgages - were migrated overnight, fulfilling the bank’s successful transition to a shiny new platform. By bringing all accounts onto the new platform, Tandem can now benefit from full control on all its product services and improve their understanding of customer behaviour in order to serve them better.
Migrating their legacy system to their own proprietary software that integrates best of breed cloud providers such as Mambu, not only gives Tandem the best banking technology in the market, but helps them deliver on the green finance proposition to help people ‘save while saving the planet’.
“We’ve been progressing towards a greener banking ethos for a
while now” said Noam Zeigerson, Chief Data and Technology Officer at Tandem. “And with our recent acquisition of Allium Lending Group, we’ve been able to accelerate on this mission. We needed a technology partner that was both a culture fit for Tandem and had also technical hacks. Finding a partner that is expert in a complex task, such as managing banking ledgers, enabled as well as making it all available in a programmatic way via APIs was a key for our success. It allowed us to focus on creating value to our customers, building our software technology in the way we love and move our business forward.”
We needed a technology partner that was both a culture fit for Tandem and had also technical hacks.
Moving an operation of this magnitude overnight, proves that migrations can happen rapidly when finding the right methodology and the right partner. Mambu and Tandem’s shared focus on iterative learning, data and sustainability made it easy for the teams to speak the same language and move fast.
Tandem chose to move to Mambu to achieve vital improvements that:
- Provide the digital-only bank’s demographic a more curated customer experience;
- Create more agile operations when launching new products;
- Helps it stay true to its green goals as all work done with Mambu was done virtually, without travel or environmental impact.
“Having both teams closely aligned reduced the risk associated with implementation and migration processes, giving Tandem the confidence that if any issues should arise, they would be met by a well-briefed Mambu team, able to react quickly,” said Eelco-Jan Boonstra, Managing Director of Mambu EMEA. “When Tandem decided to move away from more traditional software providers, they knew it was the way to remain sustainable and achieve their green goals - and we’re exceptionally pleased to not only prove them right, but surprise them by how quickly we achieved it.”
When Tandem decided to move away from more traditional software providers, they knew it was the way to remain sustainable and achieve their green goals.
After a successful 2020 with 100% YoY growth and the recent €110 million round of funding, Mambu continues to provide customers with a world-class platform on which to build modern, agile customer-centric financial businesses.
Resources
Watch Mambu’s digital banking webinar with Tandem;
Revisit Mambu’s blog post on Tandem.