Software-as-a-Service provider Mambu has extended its five-year partnership with BaFin-approved C24 Bank to further innovate across Germany’s banking industry.
The two parties secured the extension following the initial launch of the greenfield digital retail bank, with Mambu also facilitating its service to enable C24 Bank to build products that gain traction in the German market.
With a focus on innovation in place of managing the core infrastructure, C24 has the ability to expand its product set and react to market changes and ever-changing customer expectations.
Lasse Schmid, Managing Director at C24, said: “At C24 Bank, we want to provide a unique offering to our customers. We are the only bank in Germany which pays interest in all our current account products.
“Mambu has helped us to provide that. We are looking forward to extending our partnership with the aim to serve one million customers and to continue to deliver exceptional customer experiences.”
In 2020, C24 Bank first partnered with Mambu to launch the greenfield bank. Its deposit offerings went live in 14 months and following a successful collaboration, C24 Bank continued to run on Mambu’s modern core foundation.
Mambu’s Software-as-a-Service (SaaS) model and composable approach provides banks with a faster time-to-market and added flexibility compared to legacy core solutions.
Nick Lawler, Market Director, EMEA at Mambu, added: “After five successful years of collaboration, we are thrilled that C24 Bank has chosen to extend our partnership as it continues to build out its deposit products and services. It has been incredible to witness the growth of C24’s offerings, underpinned by Mambu’s cloud banking platform.
“We have seen how Mambu can simplify and streamline banks’ ability to launch innovative services, and we look forward to empowering C24 Bank on its mission to help customers optimise their finances.”
