Digital payment service provider OKEO has announced its intentions to implement its services to the cloud banking platform Mambu to bolster multi-currency payments. 

Aiming to integrate its services to entrepreneurs and businesses in Europe, OKEO believes its partnership with Mambu will deliver multi-currency exchange payments rates ‘five times better than traditional banks’. 

The Lithuania-based firm also aims to accelerate the delivery times of multi-currency payments from minutes to a maximum of one business day, regardless of which currency is being chosen. 

Katarzyna Kwiatkowska, Chief Executive Officer at OKEO, said: “Customer success is not only the goal of our service. It is also an inevitable element of its delivery process. Which is why we continue expanding our services while being in constant communication with the clients. 

“We partnered with Mambu because their composable approach is a perfect response to the quickly evolving needs of our customers, and they share our customer-centric philosophy. While Mambu keeps the lights on in the back-end, our team can focus on the customer-facing front-end, new features and enriched financial services. 

“We believe that our partnership will enable us to take our offering to the next level.”

OKEO’s pursuit of providing a multi-currency service for merchants was an aim for the company since it identified that the wider core banking market needed a more flexible, scalable and secure solution. 

By, OKEO selected Mambu as the cloud banking platform can offer a regulatory payment scheme for OKEO’s European merchants as well as prioritising a cloud-native platform that can facilitate easy implementation and fast deployment of its payments product 

Following a nine month implementation period, OKEO officially launched its newest offering. 

Scott Wilson, Regional Vice President of Mambu EMEA, added: “Our partnership is an opportunity for us to collaboratively push the envelope in the multi-currency space. 

“The successful go-live of OKEO services on Mambu is a result of aligned goals and excellent engagement between the teams. We look forward to supporting OKEO’s growth and product expansion goals.”