Software-as-a-Service platform Mambu has announced it has launched its services on the Google Cloud Marketplace to offer cloud banking services to an array of financial institutions.
The announcement builds on Mambu’s existing partnership with Google Cloud, which has allowed the fintech to expand its reach and deliver its core banking services to a global outreach.
By making Mambu available on Google Cloud Marketplace, more shared customers can access a highly scalable, secure platform, with open access to new markets, and a decreased time to market as they launch innovative financial products.
Kunal Galav, Head of Partnerships at Mambu, said: “Banks were built to last, but today they need to be built to change. As a cloud-native SaaS offering, Mambu fully manages its customers’ infrastructure in the cloud.
“Our strategic partnership with Google Cloud has given us greater control over costs, performance, security and scalability, which we then pass on to our customers. As an extension of this global collaboration, joining the Google Cloud Marketplace allows us to reach even more financial institutions looking to bring solutions to market faster and with greater flexibility.
“We look forward to partnering with Google Cloud on go-to-market efforts and together delivering a modern core banking system capable of meeting modern demands.”
This comes at a time where legacy financial institutions will see profits decline by up to 20% to 60% by 2025 if they fail to evolve digitally, according to McKinsey research.
Many financial institutions are turning to cloud migrations – with 88% agreeing that cloud adoption can help adapt to changing customer behaviours and expectations, enhance operational resilience, and support the creation of new products and services, according to a Google Cloud study.
“To stay competitive, it’s crucial for banks to embrace new core banking technology. Mambu’s partnership with Google Cloud enables the company to unlock new markets and expand its customer base globally by leveraging our scalable, secure cloud technology and working together on joint business strategies,” added Toby Brown, Managing Director, Global Banking Solutions.
“We are pleased to work with Mambu as they support more financial customers in building truly next-generation experiences.”