EXCLUSIVE- Software-as-a-service banking engine provider Mambu wants to be a consultative partner for financial institutions: at least, that’s the idea behind the marketplace service it launched today.
Through a free public website, Mambu Marketplace, the Berlin-based fintech is hoping to create a comprehensive platform of tech and service providers that banks can use for various categories of their operations including compliance, innovation, security, etc.
“Think of it as the app store for FIs,” Ben Goldin, Mambu head of product and technology, told Bank Innovation.
For Mambu, the marketplace gives them a directory of fintechs for potential partnerships.
“To approach and build banking architecture you need to have availability of partners,” Goldin said. “For us, the role of the market place is to unite all of these fintechs and service providers under the Mambu umbrella.”
But not any fintech or FI service provider can join the marketplace, Goldin said. There is a specific selection process, with a preference to cloud-enabled companies. According to Goldin, these companies should be cloud native and API driven as well as able to conduct Proof of Concept (PoC) with Mambu or the banking partners. There is also geographical relevance required, he said, meaning these fintechs need to have a strong presence in Mambu’s markets, primarily Asia for now.
Right now, the marketplace is just an aggregation of these selected fintechs and service providers, but the next step will be to allow the banks and FIs integrate with these companies right on the site.
There is no timeline for that pre-integration phase, Goldin said, but the project is in the works.
Check out Mambu Marketplace here.1 - Reader Likes This Post