FeatureBanks are facing immediate need to upgrade technology, adapt agile ways of working, modernise legacy systems to avoid compromised business agility.
Financial institutions have changed more in the past year than in the previous twenty years. They must be agile to survive in today’s competitive environment and fast-changing markets. Agility is one of the most important aspects of our business. Being agile will not just save us, it will sustain us.
Investing in digitalisation and putting it at the center of the business strategy is no longer an option to have a competitive edge and longevity. To build the best experience, financial institutions need to start changing with the market, instead of hoping the market will stop changing.
The global pandemic has brought about unprecedented disruption to the region. The way we live, interact and work has changed to address the restrictions that Covid-19 has imposed. Businesses have turned to cloud to help– especially given that employees are working from home and require remote access to company assets.
The banking industry is no different. Banks are facing an immediate need to upgrade their technology, adapt agile ways of working and modernise their legacy systems to avoid excessive losses and compromised business agility.
Upon partnering with AWS, Google Cloud, Microsoft Azure, Deloitte Digital and Publicis Sapient, Mambu has successfully serviced clients such as Anglo-Gulf Trade Bank in Abu Dhabi, and doubled our sales in less than a year and opened a new office in the UAE.
Additionally, Mambu was named in the FinTech50 Hall of Fame for Consistent Innovation. The ranking highlights innovative European companies leading the evolution of financial services across all verticals and at all stages.
In 2020 Mambu was the sole new entry into the prestigious institution. Mambu is also positioned as a Challenger in Gartner’s 2020 Magic Quadrant for Global Retail Core Banking and as a Digital Banking Global Challenger by Forrester Wave.
The ability to move quickly and be agile has always been a priority for Mambu and now it has become critical throughout the industry. We are fortunate in being able to support both our employees and customers through this period as this is innately part of how Mambu was built.
As a geographically dispersed team, lockdown measures in countries where we have employees, have not adversely impacted the business as our teams are equipped to work from home without any interruption.
As a result of the lockdown, we have created new flexibility in postponement of loan repayments for any durations that many of our customers required. We also added new options to our lending engine allowing our customers to shift payments forward or waive interest for a period or even move it to a later date.
As all customers are on a single code base, everyone around the world will receive the updates as soon as they are released.
