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Mambu expands customer base in Australia's fintech sector
Mon, 23rd Oct 2023

Mambu, a player in cloud banking, is further reinforcing its position in the Australian financial technology sector with impressive growth in the number of its customers. The tech platform is now servicing ten innovative Australian financial services providers such as Angle Finance, Commonwealth Bank of Australia, Lumi, and Nimble, amongst others.

Fernando Zandona, the recently-appointed CEO of Mambu, shared his enthusiasm for the company's achievements during his visit to Sydney, stating, "Australia is an incredibly important market for us, as is the wider Asia Pacific region. We're proud of the strong foundation we've built here and are genuinely excited about the potential for growth and positive change within the Australian financial services industry."

Zandona also commented on his vision for Mambu's future in the region, expressing, "As digital banking matures in Australia and the understanding of the benefits of cloud grows, we want to continue expanding our reach to partner with and support even more pioneering financial service providers in Australia and the broader Asia Pacific region."

Angle Finance's Chief Information & Operating Officer, Peter Haviland, lauded their partnership with Mambu, crediting the tech platform's next-generation technology for their ability to incorporate new features into their lending platform. "We know we can trust in the safety, security, and speed of the Mambu platform, freeing up our resources internally to focus on the business of serving our customers," noted Haviland.

The apposite ability to swiftly adapt to changing conditions in the midst of digital transformations in Australia is key, according to Zandona. He highlighted institutions collaborating with high-performing fintechs like Mambu as a pattern expected to continue, mimicking trends seen globally.

Zandona's visions align suitably with the current digital banking revolution in Australia, where, according to data from the Australian Banking Association (ABA), 98.9% of banking interactions currently occur digitally. The ABA also reveals increases of 21% in online banking interactions and 31% in-app interactions. However, branch interactions have seen a marked decline of 46%.

Keeping up with the fast-paced digital transformation is crucial in the industry, Zandona further added, "There is simply no turning back for the financial services industry in Australia - the future is digital, and if a bank, lender or financial service provider doesn't have a digital transformation strategy mapped out then they will soon be left behind."

Mambu's CEO concluded by expressing, "We are truly excited at the pace of adoption of digital banking in Australia and look forward to welcoming many more Aussie customers to the Mambu family."