From XFW’22 – Mambu Insights On Modern Banking Platforms

February 22, 2023

Faster, simpler, cheaper – only a few things that make digital baking services so attractive to the nowadays customer that it led to the exponential rise of modern banking platforms in recent years. 

During the Amsterdam FinTech Week’22 we had a chance to invite Kees Jan Koppenaal – Commercial director of EMEA at Mabu – to share his insights with us about some of the most pressing today’s banking challenges and solutions that Mambu offers.

Watch the video interview or find the transcribed interview below!  

The fintech ecosystem and platform space are constantly facing a lot of changes and challenges. How does Mambu, as a leading SaaS cloud banking platform, help to overcome the top obstacles and challenges?
Mabu is a core banking platform, which is a very old traditional world, where we see still customers who have had the same core banking platform for 30 years or 40 years even.  What they need to do, what the traditional banks need to do, and what the neos already did very well, is they need to transform. They need to go much more agile, they need to be on top of the changes, and that is why Mambu created the SsaS or banking platform where we can easily roll it out, where the customers can quickly do their updates, upgrades, and change their products, pretty much on the fly and therefore be much more competitive to the the neo banks and to financial industry operators.

It sounds like that is a bit of a collaboration between you and your clients. That’s great! What are two or three benefits you personally see in this type of partnership?
Absolutely there is a partnership. And the partnership extends not just to us and the customer, but also to a much broader ecosystem around it, which you need in order to operate your total platform obviously. The best benefits we see for our customers are the fact that they can be much quicker to the market, much more agile in how they change their products, and that the total cost of ownership absolutely decreases. So flexibility up – cost down.’ 

Brilliant. as we look forward to 2023, what do you see as the golden nuggets of opportunity out there right now? 
‘It’s very hard to predict looking at the ongoing macroeconomic situation. But I definitely believe that the end customers of the banks will become much more cost-focused. So that means, if you, as a bank, can lower your operational costs and therefore decrease the costs that you charge to the customers – you will absolutely have a head start. Bringing the costs down and giving better service to the customers will for sure help. And, of course, digitalization. If you don’t do it already, then you’re lost anyway. It’s not even so much more about digitalization, it’s much more about where do you focus and on what do you focus. Banks need to be much more focused on which services they bring to the customers and how they bring it to the customers.
And we can also see that regulations are becoming, more tight. It’s getting more and more important, to make sure that you fully comply. That’s also where we as Mambu, are continuously looking to make sure our customers are enabled to be regulatory fully compliant. As well as within that ecosystem we’re already mentioning and adding the reg reporting elements, which are also becoming more important. Although at the same time, these are costs only, therefore you need to make sure you do it smartly and then invest as much as possible in a means where you can really make a difference.’

About Mambu:
Mambu is the SaaS cloud banking platform with a unique and sustainable composable approach means that independent engines, systems, and connectors can be assembled and re-assembled in any configuration to meet business requirements and the ever-changing demands of your customers. Mambu marketplace ecosystem includes integrations across credit decisions, payment processing, AML, KYC, regulatory, CRM, accounting, customer experience, and more.

Amsterdam Fintech Week is back in September 2023!
A community of like-minded fintech experts is reuniting for more discussions, ideas, and collaborations on topics ranging from Meta Fintech to Impact Fintech! Join us and stay tuned for updates!

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