Vietnam commercial bank MSB has tapped Mambu as its key technology solution to help businesses undergo digital transformation.

This comes as MSB has plans to launch Vietnam’s first digital bank by the end of 2020.

Bryan Carroll, CDO of MSB, said: “There’s no denying that the future of banking is digital, and we want to be a big part of it. We’re investing heavily in our digital transformation. We have also assigned significant resources to ensuring we have improved product offerings for our valuable customers.

“We’ve selected Mambu’s composable platform to build Vietnam’s first digital only bank as it is fully scalable, allowing us to grow quickly and respond with agility to customer needs as they arise. The Mambu platform is also completely configurable, meaning we can design it to meet our specific requirements.”

Vietnam’s first cloud-based bank

Through the partnership, Mambu’s banking platform will underpin MSB’s move to digital as MSB aims to launch the first cloud-based bank in the region.

In addition, Mambu’s SaaS technology enables flexibility in order for banks to better understand customer needs and provide effective customer service.

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Myles Bertrand, Mambu’s managing director APAC, said: “MSB has a target of becoming the best commercial bank in Vietnam. We we will have a hand in helping the business achieve its goal as it undergoes this exciting digital transformation. Mambu’s cloud-native technology is the ideal platform to consolidate MSB’s position as a first-mover in the digital banking landscape in Vietnam.”

Digital transformation

Over the past year, Mambu has formed a number of partnerships with banks to accelerate digital transformation.

In October, SME bank Recognise appointed Mambu to transform and improve its banking service levels. Swedish neobank Personal Finance Co. (PFC) also selected Mambu’s SaaS banking engine.

Furthermore, in February 2019, Mambu raised €30m to support its growth. The funding round was led by US-based Bessemer Venture Partners.