Banking-as-a-service (BaaS) provider Mbanq has joined forces with Temenos to launch a credit-union-as-a service (CUaaS) and further BaaS adoption across the US.

Mbanq’s Credit Union Service Organization (CUSO) will offer CUaaS, which will be powered by the Temenos Banking Cloud.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The new offering is aimed at credit unions in the US and is expected to overhaul the legacy system to accelerate their digital transformation.

Mbanq and Temenos will also offer a solution to fintech and e-commerce companies that wish to embed banking services.

Temenos CEO Max Chuard said: “With this strategic agreement with Mbanq, we are opening up a new channel to the BaaS space and are increasing our penetration in the US Credit Union market.

“Together with Mbanq, we can support Credit Union digital transformation, taking away the complexity of managing technology so they can focus on providing innovative banking services to members.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Additionally, Temenos will offer value-added BaaS services to banks such as lending, buy now pay later (BNPL) or credit card services through Mbanq.

Mbanq CEO Vlad Lounegov said: “Powered by The Temenos Banking Cloud, Mbanq takes to market a Credit Union-as-a-Service offering that automates every operational requirement a modern Credit Union needs.”

Last month, the banking technology provider joined forces with Vodeno and Aion Bank to accelerate BaaS deployment in Europe.

BaaS allows licensed lenders to integrate their digital banking services into the products of non-financial entities.