Through its mobile app, the banking startup aims to launch banking services for underbanked the segments of populations who currently lack access to traditional financial services. The app offers FDIC-insured prepaid accounts, domestic and international bill payments and remittances, peer-to-peer transfers, check deposits, retail cash loading and other services.
According to Verdict, FIS’ cloud-native, modular architecture will enable Bambu to launch new products to market while supporting future growth. The component-based, API-first and cloud-native platform will be delivered via a software-as-a-service (SaaS) model to help Bambu deploy it with minimum investment.
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