Software as a service (SaaS) banking engine Mambu has partnered with Mexican-based IT firm Softtek to launch a new banking platform as a service (BPaaS).
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.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Unity Trust Bank opens new Manchester office after 47% lending growth
Unity Trust Bank has opened a second commercial office as part of its expansion plans...
Tide to launch first premium account
Tide has announced that it will launch its first premium account to all its members by the end of 2019...
Shawbrook launches portal to ‘dramatically’ reduce BTL product switch times
Shawbrook Bank has launched a new online system that aims to reduce the time taken for BTL customers to product switch...
Santander to stop writing new asset finance business by end of 2019
Santander has announced that it will stop writing any new asset finance business by the end of the year...
Shawbrook adds new relationship director to business finance division
Shawbrook Bank’s business finance division has named John Hunter (pictured above) as its new relationship director for its South East regional team...
National Australia Bank updates cloud strategy with Google Cloud addition
National Australia Bank (NAB) has added Google Cloud to its cloud technology strategy...
PMS Mortgage Club and Sesame Network appoint Reliance Bank to lender panels
PMS Mortgage Club and Sesame Network have added Reliance Bank’s range of mortgage products to their respective lender panels...
FCA aims to improve awareness of no-deal Brexit impact on businesses
The FCA has stepped up its efforts to ensure firms are aware of what they need to do to prepare in the event of a no-deal Brexit...
Alba selects Temenos as core banking platform
Temenos has been selected as the core banking platform for Alba...
An interview with Peter Izard: 'I would like to see the wider banking industry become even more transparent'
In an interview with Specialist Banking, Peter Izard, business development manager at Investec (pictured above), talks about training staff, incorporating tech and changing trends in private banking...
Paragon names new managing director of mortgages
Paragon Bank has announced that it will appoint Richard Rowntree (pictured above) as its new managing director of mortgages, subject to regulatory approval...