US-based digital consultancy Mobiquity has joined forces with German cloud banking platform Mambu to offer software as a service (SaaS) banking capabilities to financial services institution.

Mambu is a SaaS banking and lending platform that offers scalable, secure, cloud-native technology.

Its API-enabled construct can plug in third-party integrations to create a simple, streamlined and automated customer experience.

Mambu is constantly updated through a single codebase in its SaaS model.

Under the arrangement, Mobiquity will help fintech companies leverage Mambu’s SaaS banking technology to create legacy-free organisations.

The move is part of the company’s strategy to meet the increasing regulatory pressure and changing customer demands for technology as companies struggle with high cost-income ratios.

Mobiquity client strategy partner & financial services account executive Paul Dommelen said: “Our partnership with Mambu allows us to extend our service offering to the core banking layer, next to our existing solutions, and serve our clients full circle on all layers.

“Furthermore, Mambu’s reputation as the most successful next-generation core banking provider adds perfectly to our goal to accelerate and increase innovation in the financial services sector.”

Mambu vice president for channel & alliances Remco Dam said: “Through this partnership, we will bring to market innovative solutions that combine Mambu’s composable banking approach with Mobiquity’s methodology and engineering capabilities.”

Recently, Mambu also integrated with TransferWise to offer cheap international money transfers.