Softtek and Mambu unveil banking Platform-as-a-Service
Mambu, a Software-as-a-Service (SaaS) banking engine provider, has partnered with Mexican system integrator Softtek to launch a Banking Platform-as-a-Service (BPaaS).
The duo says this cloud-based model is a “flexible take on the legacy ‘bank in a box’ concept which is limited to the technologies provided by only one vendor”.
Softtek will deliver a combination of SaaS and local applications and technologies from multiple vendors on one cloud-native API-enabled BPaaS, powered by the Mambu banking engine.
Edgardo Torres-Caballero, MD, Mambu Americas, says new entrants are using digital technology to “meet changing customer expectations as well as reach the large underbanked sector” and “to succeed, competitors must emulate the operating models of these disruptors”.
José Luis Sánchez, VP of financial sector in Softtek Mexico, adds that in Mexico there are more than 3,000 financial institutions. The firms will be targeting this market.
The difference engine
Mambu has bagged itself a few tidy deals recently.
Last month, Kreditech chose its SaaS engine for its push into India’s lending market.
While last year, Mambu was selected by Argentinian lending firm Wenance to use its SaaS core banking system to help with its Latin American expansion strategy.