Last updated on April 17, 2014 at 21:23 EDT

Ovum Puts Cloud Banking Technology Provider Mambu ‘On the Radar’

November 22, 2013

BERLIN, November 22, 2013 /PRNewswire/ –

Mambu’s rapid growth demonstrates the credibility and capability of a full

cloud-based model, says new report

Mambu, the banking and microfinance cloud software provider has been highlighted by
global analyst firm Ovum in an ‘On The Radar’ report, a series of research notes that
highlight up-and-coming vendors that bring innovative ideas, products, or business models
to their markets.

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According to Ovum, many financial institutions are realizing that the world’s
underbanked segment represents an increasingly attractive market in many growth economies
in terms of absolute revenue potential and future growth rates. In the report, Ovum
explains that the challenge for organizations looking to rapidly reach this market segment
is in providing a low cost banking platform that allows viable support of previously
underbanked users, whether they be individuals, or in the micro and small to medium
enterprise sector. Mambu looks to address this challenge through a SaaS-based banking
platform that provides rapid implementation and an opex-based pricing model.

Daniel Mayo, chief analyst and practice leader for financial services technology at
Ovum, said, “While a fully cloud-based platform may not be the first choice for most
traditional banks looking for a banking platform to move into new markets, innovative
banks are rapidly realizing that perhaps it should be. Cloud-based models offer a
step-change in terms of pricing and deployment speed. Mambu offers a low-cost/low-risk
option for banks to develop their business models in the microfinance and emerging
enterprise space, and in the longer term could even provide interesting options for a
bank’s mainstream business.”

David Hamilton, president of Mambu, added, “Our customers come to us because they want
to get to market quickly, and we help them achieve their goals with our flexible, easy to
use platform. For us, this increasing interest from banks validates our belief that core
banking systems are over complex, inflexible and expensive and Mambu offers a fast,
flexible alternative to solving these challenges.”

Ovum subscribers can download the full report here:


About Mambu

Mambu enables any financial institution to deliver state-of-the-art banking through
its software-as-a-service cloud solution. Agile, flexible and open, Mambu eliminates the
complexities typically associated with core banking software, at a fraction of the cost.
Mambu makes it simple and cost-effective to provide essential banking services such as
loans and deposits. Established in 2011, the Berlin-based company works with more than 100
institutions in 28 countries worldwide, servicing a portfolio of more than $100M. Our
clients range from small microfinance organizations to large retail banks and other
financial innovators that are seeking to address the financial needs of the world’s 250
million micro, small and medium enterprises in need of loan, savings and insurance
services. For more information, please visit http://www.mambu.com





Source: PR Newswire