Mambu’s core banking tech supports challenger bank N26
N26 is using Mambu’s flagship core system, provided on a Software-as-a-Service (SaaS) basis. The vendor says it enables the mobile-only bank “to integrate systems and quickly bring services to market in support of its growth strategy”.
N26 migrated to Mambu’s platform once it obtained its own banking licence late last year. Prior to that, it had been relying on a partner bank.
The bank’s customer base has recently reached 500,000 across Europe.
According to Gino Cordt, CTO of N26, the new platform resulted in a “drastic” decrease of the bank’s operating costs and minimising the IT resource requirements.
Cordt also compliments Mambu’s “ease of integration, flexibility and time to market”.
Mambu’s core banking system supports current accounts, overdraft and loan products at N26.
Eugene Danilkis, co-founder and CEO of Mambu, praises N26: “By putting customer experience at the centre of their strategy, they have created an app which gives their customers a truly simple banking experience.
“This is a great example of how retail banking can be redesigned in the 21st century.”
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