There has been a progressive shift from Banks and FIs towards more nimble and agile digital platforms, this facilitates them being more effective and efficient in the ways to serve their customer whilst allowing them to be more flexible in rolling out new products and services.
Mambu focuses on offering Banks and FIs a seamless online banking experience. Mambu is a SaaS-based Core Banking Platform that puts digital customer experience at the core of its banking and lending solutions.
Being born in the Cloud “Mambu” is created to empower the banking and financial industry with digital-first technology making the platform easily implementable. It started its journey by offering services to microfinance institutions and fintech start-ups. Mambu was founded in 2011, and today, 478 organizations in 51 global countries have adopted Mambu as their Core Banking Solution. The latest offering includes corporate lending and payment services as well.
In this article, we will compare Mambu with other prominent CBS platforms.
Mambu vs Temenos Transact
Temenos being rich in its offering of system functionality and built with relevant technology offers a diverse range of integrations with ancillary systems. The platform is built for retail, corporate, and private banks to manage transactions, risk, enterprise credit, and more. It caters to the customer profiles like retail, corporate, universal, private, Islamic, and microfinance & community banks. Temenos solutions include Temenos Infinity – Digital Front Office, Temenos T24 Transact – Core Banking, Temenos Payments, Temenos Infinity Wealth, and Temenos Fund Management.
In comparison, Mambu is fairly a new core banking solution. Nevertheless, is growing fast to be a preferred partner for Banks on the lookout for their Core banking transformation. Mambu association with top-notch organizations to help them design, launch and scale digital-first banking and lending services. It is a platform built from the Cloud upward and is proving to be a cost-efficient alternative to expensive and complex conventional core banking solutions.
Being on the Cloud is one of the benefits among all others. Mambu also provides tools to its customers to build, integrate, and launch all lending portfolios. Its customer profile includes p2p, marketplace personnel, SME lenders, deposit-taking institutions, and mobile banking providers. The Mambu solutions are Composable banking, Cloud banking platform, and Mambu Process Orchestrator.
Mambu vs FLEXCUBE
FLEXCUBE has been a great option for the Banks and FI’s alike due to its association with CITI in the initial days and now after being owned by Oracle. It has front-to-back digital capabilities that help banks and financial institutions to innovate and create next-generation technologies for digital customer experiences. FLEXCUBE helps in generating improved insights and enhancing STP as it has access to advanced automation tools, which are supported by MI capabilities.
In contrast to Mambu’s customer profile, FLEXCUBE’s customer profile includes Universal, direct, private, and Islamic banks, and financial and lending institutions. Also, FLEXCUBE has been empowering the business of their customers with the solutions like Core banking software, Enterprise limits, Collateral Management, Investor Servicing, Financial Services Lending and Leasing.
Mambu vs TCS BaNCS
TCS BaNCS solutions focus on Digital First, Cloud First philosophy to support the fast-paced digital world. The TCS BaNCS product suite is developed to help financial services institutions become more agile, innovative, and intelligent by leveraging the cloud and digital ecosystems. Its Global Banking Platform offers business support with products and services across assets and liabilities, cash, securities, and crypto-assets. While Legacy systems struggle with the accelerating growth of digitalization. It empowers the overall ecosystem with a rich catalogue of APIs.
Mambu is used by the Credit Union and multi-branch set-up. It is used for online banking, retail banking, and private banking. Like Mambu, TCS BaNCS also supports multi-branch setups and Credit Union. In addition to online banking, retail banking, and private banking, TCS BaNCS can be used for Compliance Tracking, Corporate Banking, Credit Card Management, Investment Banking, Risk Management, Securities Management, and Transaction Monitoring. In the banking category, TCS BFSI platforms have 534 customers in 48 countries, while Mambu is implemented by 478 customers in 51 countries.
Mambu vs Finserv DNA
DNA® from Fiserv is a Core Banking Solution with an open architecture. It offers a wide range of customization and enhancement options through the DNAcreator® toolkit and AppMarketTM. DNA enables easy integration and customization; and as it is based on open architecture, it offers flexibility to add third-party or customize the platform to suit your requirements. DNA improves operational flexibility by enabling real-time data backup. It delivers real-time performance by executing and storing transactions as they occur.
Real-time data performance ensures the information is updated consistently to support rapid data analysis. DNA offers an enhanced user experience with intuitive and touch-enabled features. The improved user interface allows ease of use and improves efficiency for users across various devices and OSes. DNA is fully integrated with corporate banking solutions that empower all banking operations. In banking categories, Finserv DNA has 100 customers in 6 countries in contrast to 478 customers in 51 countries for Mambu.
Mambu’s SaaS model supports tier-one banks to fintech start-ups. It is developed from the cloud unlike other core banking solutions. DNA has a TransactionExpress feature that helps users with quick multiple transactions. It also allows multiple transactions to multiple accounts from a single screen. DNA teller capture option and allows users to image, process, balance and verify checks and other documents immediately — right at the teller line – to gain quick access to external funds without handling a transaction more than once. Mambu and Finserv both have component-based architecture, but as per a Gartner report compared to Finserv, Mambu has better interoperability and functional granularity.
Mambu vs FIS Profile
FIS designs and implements a fully integrated core system with critical components to transform existing investment in the community, mid-tier, large and global financial institutions. It aims at meeting customer needs, regulatory changes, and competing with alternative providers. FIS is the main repository of data used for financial management and reporting functions. The functions of FIS are, to record financial transactions in GLs, generating financial reports to meet management & statutory requirements, and control overall spending through budgetary control embedded in the systems.
As per a Gartner Peer report, Mambu wins an edge over FIS in terms of interoperability and functional granularity. The report also reveals that Mambu has better experience compared to FIS while catering to Small, Midsize, and Large Bank Segments. Mambu can be easily integrated and deployed as compared to FIS. In terms of quality of end-user training and ease of integration using standard APIs and tools, Mambu is a clear winner.
Mambu vs SAP Transactional Banking
SAP Transactional Banking for SAP S/4HANA is an open core banking platform designed for retail and corporate banking and based on an architecture that ensures real-time processing and continuous availability. It provides a wide range of functions for retail and corporate banks of different sizes; and enables users to manage the contract-related master data, along with maintaining, controlling, and monitoring the use of collaterals.
It defines integration patterns for connecting to a payment transaction system, a collateral management system, or a sub-ledger system, archiving the relevant business objects, automating the manual processing tasks, and mapping the relationships between receivables, and collateral assets, collateral providers, and collateral assignees. Its features include exception handling, data protection, up and downstream integration, data lifecycle management, and archiving capability.
Mambu SaaS model supports both tier-one banks along with fintech start-ups. Being cloud up, unlike other core banking solutions.
Mambu vs Avaloq Banking Suite
Avaloq is a Swiss-based leader in core banking software and digital technology founded in 1985. They provide SaaS and business process as a service (BPaaS) solutions to banks and wealth managers. With a strength of over 150 clients with USD 4.5 trillion in assets managed with their flagship software product. Their default approach is cloud-native, offering flexible deployment options for core banking. Their standalone digital products are also cloud-native and cloud-agnostic, enabling efficient operation on any private or public cloud.
Avaloq helps in wealth and investment management by offering specialized knowledge and software to clients. They leverage automation to manage, protect and grow wealth and help private banks by bringing flexibility to their offerings. Avaloq is designed for retail and commercial banks by operating a traditional branch network and boosting online services with a fully digital experience. It also offers tailored services for challengers & neo banks by speeding up business launches. It uses cloud-based solutions to scale up business processes faster.
As per Gartner Market reviews, Avaloq and Mambu both have 4.2 ratings. While Avaloq wins an edge over Mambu serving the Midsize Bank Segment, Mambu is ideal for Small Bank Segment. However, Mambu wins by .1 in interoperability and functional granularity. Mambu serves the Large Bank Segment, while Avaloq could not make it through. Avaloq has a better requirement understanding and pricing flexibility. But Mambu offers ease of deployment, quality end-user training, and ease of integration using standard APIs and tools. Mambu also has easy availability of 3rd party resources. Compared to Avaloq, Mambu offers quality technical support, while Avaloq has a quality peer user community.
Mambu vs Intellect Global Universal Banking
Intellect is a popular financial platform for Corporate Banking, Retail Banking, Brokerage Solution, Treasury Management, and Insurance Software. It helps banks and businesses to grow in their wealth. Intellect is designed for transaction banking and supports corporate banking & global payments to grow their business. Intellect is a highly rated practice management solution that can handle billing, scheduling, and multiple automated tasks.
Mambu, on the other hand, is the world’s only SaaS banking platform that helps banks evolve by offering future-ready technology. Mambu is designed for banking convenience by simplifying plugin integrations, streamlining, and automating customer journeys. With Mambu, there is no need for coding and customizing as it has an option to configure and integrate, and Mambu is good to be used. It is used on the cloud instead of on-prem deployments, which helps organizations to constantly improve instead of being stuck into a painful cycle of enduring major and disruptive releases. It is interesting to note that as per a report, Intellect is ranked 10th while Mambu is ranked 4th in Core Banking Software.
Mambu vs Finacle Core Banking Software
Finacle is a cloud-based banking solution that helps financial institutions to digitally enhance their core banking capabilities. Developed by Infosys, the platform is used by banks across 100+ countries and serves 1 billion end customers worldwide.
Finacle offers a comprehensive set of products that accelerates organizational growth with innovation. It has open APIs, embedded with customer insights, and a real-time processing engine making it an ideal choice for modern banking. Finacle is a highly modular solution designed to speed up the production of new products and accelerate digital adoption. It delivers faster, safer, and fully personalized core banking services.
When compared to Mambu, Finacle’s customer profile is spread across retail, corporate, universal, community, and Islamic banks; lending and payment providers, while Mambu has alternative lenders (p2p, marketplace personal and SME lenders), deposit-taking institutions, and mobile banking providers. Mambu solutions are composable banking, cloud banking platform, and Mambu process orchestrator. Finacle has corporate, retail, universal, community banking suites, payments connect, and a digital engagement hub.
Wrapping up – Mambu has come a long way standing its ground and competing with some of the top names in the Core Banking space, but its journey so far has been remarkable and something that needs to be noted. Mambu has been successful in finding its own place and supporting Banks and FIs on their digitization journey in such a short span of time.
To conclude, Mambu is successful in standing shoulder-to-shoulder with the established names in the BFSI domain.