The initiative transitioned the bank from its legacy core to Mambu in 13 months, resulting in a rapid time to market for its new customer and business deposits.
Marginalen Bank was founded following the acquisition of Citibank’s Swedish customer bank. It believes in financial inclusion and helping its customers access simple and clear financial products, offering services for businesses and individuals. The bank’s mission is to continue to evolve in line with its clients’ needs and demands, as well as being compliant with the regulatory requirements and laws of the industry.
By migrating to Mambu’s API-powered core banking platform, driven by Microsoft Azure Cloud, Marginalen Bank aimed to improve its agility, scalability, and cost-efficiency. The cloud-native architecture allows it to launch its financial products faster, providing modern banking experiences while maintaining compliance with the financial rules of the region.
The bank’s goal is to simplify its customers’ daily operations with an improved infrastructure by choosing Mambu for its composable banking approach, which complements Marginalen’s strategy.
Mambu believes that, in the current financial ecosystem, a core banking platform is necessary for innovation. The Nordic banks are seeking upgrades, looking for alternatives in the region. The partnership between Mambu, Marginalen, and Avenga pushed for the necessary change to happen. Mambu aims to transform the Nordic banking landscape in partnership with its ecosystem partners, offering an alternative for banks seeking to break free from legacy systems.
Avenga, leading the decommissioning of the bank’s legacy core banking system and securing a fully integrated, cloud-first architecture, played a key role in the initiative. The project ensured full data migration and integration across Marginalen’s ecosystem. This includes Data Warehousing (DWH), Core Banking System (CBS), microservices, and local third-party providers.
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