The cloud-based model will enable financial institutions to leverage an integrated best-of-breed offering that provides them with the agility to adapt to market demands simply and efficiently with the support of expert partners.

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.

“New entrants are using digital technology to meet changing customer expectations as well as reach the large underbanked sector,” said Edgardo Torres-Caballero, managing director at Mambu Americas.

“To succeed, competitors must emulate the operating models of these disruptors and develop the flexibility and speed to market necessary to meet market demands.

“BPaaS is the optimal model to meet this objective.”

Mambu currently provides the SaaS banking engine for specialist bank OakNorth.

Carlos Funes, CEO at Softtek Mexico, added: “Powered by the global leading SaaS banking engine Mambu, which provides advanced capabilities and the agility demanded by the financial sector, we have combined this with Softtek's experience and knowledge of this industry in Mexico in order to provide a complete offering which will help accelerate the transition of our customers to the digital economy without disrupting their existing business.”

In Mexico, there are more than 3,000 financial institutions that could potentially benefit from the new partnership.

José Luis Sánchez, vice-president of financial sector at Softtek Mexico, added: “With a 100% digital platform that is flexible, scalable and agile, it will enable these institutions to provide innovative, cloud-first banking services and credit to its customers in the consumer and corporate market.”