The decision comes as BridgeFund aims to replace its existing in-house core banking system, which lacked scalability for larger expansion initiatives, according to BridgeFund representatives.
The collaboration with Mambu is anticipated to enable BridgeFund, a fintech facilitating peer-to-peer financing among merchants, to increase account volumes and broaden its product offerings. Additionally, the partnership is expected to support BridgeFund's expansion into new markets.
Established in 2018, BridgeFund reports issuing more than 6,500 loans amounting to over EUR 300 million. Groenewegen highlighted Mambu's swift time-to-market, citing that the transition to Mambu’s platform facilitated online deposits within six months, with ongoing efforts to replicate the same efficiency in lending operations.
The adoption of Mambu's cloud banking solution by BridgeFund follows a trend observed in the industry, with Brunswick Credit Union from Canada announcing its shift to Mambu’s platform last month in anticipation of its legacy core system's end-of-life phase.
In March 2024 xpate unveiled its collaboration with Mambu to enhance its payment solutions for European customers through the utilization of Mambu’s cloud banking platform.
The partnership signals xpate's strategic focus on implementing adaptable, secure, and comprehensive payment solutions to meet evolving market demands and optimize its payment processing capabilities.
By joining forces with Mambu, xpate aims to reinforce its technological infrastructure while enhancing value and security for customers. The collaboration also underscores xpate's commitment to compliance with local regulatory requirements.
Mambu, known for its cloud-native core banking solutions and Software-as-a-Service (SaaS) model, provides versatile support to various organizations across diverse markets. Emphasizing a customer-centric approach, Mambu offers scalable and secure tools tailored to the needs of the financial sector.
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