British digital lender Tandem Bank has gone live on Mambu’s SaaS banking platform, thereby concluding the rebuild of the bank’s platform.
All customer accounts, including savings, loans and mortgages, have been migrated to the new platform.
According to the vendor, this will enable the bank to have complete control on its offerings and enhance understanding of customer behaviour.
The goal behind the migration was to offer a more curated customer experience as well as create more agile operations when rolling out new products.
Mambu EMEA managing director Eelco-Jan Boonstra said: “When Tandem decided to move away from more traditional software providers, they knew it was the way to remain sustainable and achieve their green goals – and we’re exceptionally pleased to not only prove them right, but surprise them by how quickly we achieved it.”
In January 2021, Mambu raked in €110m ($135m) in a funding round, with its valuation soaring to over €1.7bn ($2.1bn). The firm has powered various other digital banks lately.
Last month, Bank Islam partnered with Mambu and Experian as it prepares to launch its Centre of Digital Experience.
In November 2020, DigiBankASIA selected Mambu as the technology foundation of its new South East Asia focused digital bank UNO.
Tandem chief data and technology officer Noam Zeigerson said: “We needed a technology partner that was both a culture fit for Tandem and had also technical hacks.
“Finding a partner that is expert in a complex task, such as managing banking ledgers, enabled as well as making it all available in a programmatic way via APIs was a key for our success.”
Developments at Tandem
Tandem was in the news for launching a new green instant access savings account for environmentally-conscious customers in February this year.
The same month, the bank also acquired mortgage book worth £100m from private bank Bank and Client (B&C).