SaaS banking platform Mambu and an international provider of Cloud payments and financial messaging solutions, Volante Technologies, announced a collaboration to assist banks and lenders with streamlining their banking and payment infrastructures.
The partnership should enable joint clients to “speed delivery of innovative payment products and services without needing to rip and replace legacy systems,” according to a release.
As mentioned in the update, traditional financial institutions often struggle with legacy systems that are “inflexible, slow and expensive to replace and adapt.” Volante and Mambu are teaming up to “allow financial institutions to modernize their existing payment systems and quickly launch new solutions with different payments capabilities such as wire, ACH, SEPA, real-time and cross border payments.” The integration allows customers to “implement payment functionalities faster than traditional vendors and provides richer experiences with more flexible payment options for consumers and businesses.”
As an API-first platform, Mambu integrates with off-the-shelf software solutions, like Volante, “enabling financial institutions of all sizes to offer better, differentiated experiences to their end-customers.”
Kevin Trilli, Mambu Chief Product Officer, stated:
“The partnership boosts digital banking and payment functionalities that help orchestrate state-of-the-art solutions across all banking channels. Like Mambu, Volante provides digital technology solutions that equip institutions for future success. Together, we are making available a system that empowers all payment processors seamlessly within Mambu’s Payment Hub. Within a matter of hours, processors can develop and quickly deploy the elements needed to deliver an exceptional 24/7 experience to their customers.”
Trilli added:
“The platform was possible because of a shared philosophy that a modern low-code cloud architecture allows for scalability, cost-saving and agility. This will drive change and is an important step in making payments processing simpler and more accessible.”
John Farrell, SVP Global Product Management, Volante Technologies remarked:
“We see this strategic partnership as transformational for the industry. SaaS is a game-changer for core banking. Payments as a Service (PaaS) and low-code technology have proved equally disruptive in payments. By unifying the two, Volante and Mambu are creating a powerful Banking as a Service (BaaS) platform. We believe this synergy, combined with our strong affinity in culture, values and style, will drive tight collaboration and co-innovation for the benefit of our joint customers.”
As covered, Mambu is an SaaS cloud banking platform. Launched in 2011, Mambu “fast-tracks the design and build of nearly any type of financial offering for banks of all sizes, lenders, fintechs, retailers, telcos and more.” Their composable approach means that independent components, systems and connectors can be “assembled in any configuration to meet business needs and end user demands.”
Mambu has 800 employees that “support 200 customers in over 65 countries – including N26, League Data, BancoEstado, OakNorth, ABN AMRO, and Orange Bank.”
As noted in a release, Volante Technologies is the global provider of cloud payments and financial messaging solutions “to accelerate digital transformation.” They serve as “a trusted partner to over 100 banks, financial institutions, market infrastructures, clearing houses, and corporate treasuries in 35 countries.”
Their solutions and services “process millions of transactions and trillions in value every day, powering four of the top five corporate banks, 40 percent of all U.S. commercial bank deposits, and 70 percent of worldwide card traffic.”