The announcement builds on Mambu's existing partnership with Google Cloud, which has allowed the fintech to expand its reach and seamlessly deliver its core banking services globally. By making Mambu available on Google Cloud Marketplace, more shared customers enjoy a highly scalable, secure platform, with open access to new markets, and above all, a decreased time to market as they launch innovative financial products.
This comes at a time where legacy financial institutions will see profits decline by up to 20 to 60 percent by 2025 if they fail to evolve digitally, according to McKinsey research. As today’s financial institutions are reviewing their banking platforms, many are turning to cloud migrations—with 88 percent agreeing that cloud adoption can help adapt to changing customer behaviours and expectations, enhance operational resilience, and support the creation of new products and services, according to a Google Cloud study.
Kunal Galav, Head of Partnerships at Mambu, said: “Banks were built to last, but today they need to be built to change. As a cloud-native SaaS offering, Mambu fully manages its customers' infrastructure in the cloud. As an extension of this global collaboration, joining the Google Cloud Marketplace allows us to reach even more financial institutions looking to bring solutions to market faster and with greater flexibility. We look forward to partnering with Google Cloud on go-to-market efforts and together delivering a modern core banking system capable of meeting modern demands.”
Toby Brown, Managing Director, Global Banking Solutions, Google Cloud: “To stay competitive, it’s crucial for banks to embrace new core banking technology. We are pleased to work with Mambu as they support more financial customers in building truly next-generation experiences.”
Shared customers include bob Finance, a Zurich-based digital financial services provider, Bank Jago, an Indonesian-listed bank, and Libertad Soluciones de Vida, an established and regulated microfinance entity in Mexico, all of which leverage Mambu’s cloud banking platform on Google Cloud. The combined power of Mambu and Google Cloud will serve the demand for seamless digital banking and financial experiences on a global scale.