EC News DeskMambu is a cloud agnostic platform that supports the main hyperscale cloud providers. Mambu offers a cloud-native, SaaS core banking engine for both conventional and Sharia compliant personal finance, deposits and lending products.
In addition, Mambu offers a process orchestrator that acts as a middle-ware that manages business workflow logic to facilitate seamless integration within the banking ecosystem through our open API composable banking architecture. Along with this product factory, Mambu also offers a transactional sub-ledger and a customer repository.
“Most projects reach Minimum Viable Product in under 3 months and are live in 6-9 months.”
A SaaS platform is quick to implement. Most projects reach Minimum Viable Product in under 3 months and are live in 6-9 months compared to typical projects on traditional on-premise solutions which have a 12-24 months plus timeline.
In fact, SaaS applications are agile and have a rapid pace of change without vendor lock-in. It provides an open ecosystem with all functionality exposed via APIs.
“Mambu supports brand new greenfield digital neobank implementations.”
Costs involved are predictable and can be aligned to business values and objectives versus having unforeseen extra cost due to consultants, customisation and integration. Last but not least, SaaS enables its users to be a market leader due its agile nature.
Mambu supports brand new greenfield digital neobank implementations or where an existing incumbent bank would like to launch an independent digital attacker via a speedboat launch and maintain its existing core bank. Mambu also supports a phased-wise lift and shift approach where some banks may want to replace their legacy core altogether.
“Mambu supports phase-wise lift and shift approach where some banks may want to replace legacy core.”
Mambu’s motto is build the bank you want to be. The migration strategies for all these approaches may vary, however the underlying principle of being truly cloud-native and following a composable approach separates Mambu from the competition.
Mambu is cloud agnostic and supports the three main hyperscale public cloud providers: Amazon Web Services, Google Cloud Platform and Microsoft’s Azure. New cloud service providers in the GCC are coming soon.
In addition, Mambu also offers solutions where some regulators have strict data residency requirements. Most of the public cloud providers have local operating zones within countries and this presence also helps to address requirements around data residency.
“Mambu is cloud agnostic and supports the three main hyperscale public cloud providers.”
One of Mambu’s core company values is evolution. Constant improvement is deeply embedded in every team, especially our Information Security Management System, and demanded in Mambu’s Information Security Policy. Concrete examples for continuous improvement are: regular continuous improvement sessions, iteration retrospectives and post mortems after incidents.
These instruments help to evolve Mambu’s processes, procedures, team skills, ways of working, tools and technical stack.
“The purpose and the goal of Mambu’s ISMS is to ensure prevention of data loss.”
Mambu has implemented an Information Security Management System, ISMS according to the ISO, IEC 27001 international standard, which is certified by an independent certification body. The purpose and the goal of Mambu’s ISMS is to ensure prevention of data loss or quality- integrity, prevention of data leakage – confidentiality, and prevention of loss of access to data – availability.
Mambu is aware of the importance of its provided services to customers. This entails the confidentiality, integrity and availability of the services, including its systems and managed data. Mambu protects end client data, as we would expect our personal banks should treat it.
Mambu’s SaaS solution is hosted in cloud service providers’ data centers, which have strong physical security measures, against fire via fire detection and prevention equipment, physical theft or unauthorised access.
Mambu is designed for high availability, performance and scalability. As such, Mambu is not relying on single points of failure and leverages horizontal as well as vertical scalability. All critical components are kept redundantly; load balancers and application servers are available in two availability zones and service requests in an active fashion.
The driving force behind data residency from some regulators revolves mainly around the requirement of critical customer personally identifiable information to stay within country boundaries. To address this requirement, Mambu is actively working with public cloud service providers that host availability zones within national boundaries.
“An existing incumbent bank would like to launch a digital attacker via a speedboat launch and maintain existing core banking.”
Alternatively, Mambu is able to offer solutions where the customer data resides and is stored only within the country, and that pseudo, anonymous data identifiers are passed to the public cloud for further processing. This way sensitive customer data never goes to the public cloud and data residency requirements from the regulators are met.
Mambu is making banking better. Mambu believes that modern and innovative experiences cannot be built on top of legacy core infrastructure and that competitive pressure will bring new entrants into the market and force existing banks to evolve to be more tech-driven.
To support this, Mambu will focus on having the best modern cloud banking platform and build a strong, well-enabled ecosystem of partnerships consulting, integration and technical in the belief that customers want open, flexible solutions that are proven to work together without being dependent on one single tech provider.
The migration strategies vary, but the underlying principle is for the banking end customer to be truly cloud-native and follow a composable approach.
