Mambu, a cloud banking platform for banking and lending businesses, announced it has been positioned as a Challenger in the 2020 Magic Quadrant for Global Retail Core Banking for the second year in a row.
It is a critical moment for the finance industry. Faced with the economic impact of COVID-19, as well as increased competition from fintechs and neobanks, CEOs across financial institutions are accelerating their organizations’ banking transformation. This is driving a core banking market surge, especially for cloud-native solutions and open banking initiatives.
Launched in 2011, Mambu’s cloud-native core banking platform is a pure SaaS solution that has continuously improved to bring strong business value and help drive growth for customers like N26, Santander’s Asto, Banco Galícia, ABN Amro’s New10, Ualá, among others.
“Mambu has taken a front-row seat in the revolution of the banking experience. We believe that being included in Gartner’s Magic Quadrant once again reflects the work of our products and customer success teams,” affirms Edgardo Torres-Caballero, Managing Director Latin America for Mambu. “Our aim to help banks and fintechs scale effectively and enable a faster time-to-market through an agile and flexible technology. Also, our recent announcements of partnerships with Google Cloud, Transferwise and Backbase are examples of our commitment to building a strong partner network to support our customers globally.”