Mambu, a cloud banking platform, and C24 Bank, a “fully regulated” and BaFin-approved bank have announced an extension to their ongoing partnership following a successful initial launch of the greenfield digital retail bank.
Founded by Check24, Germany‘s largest online comparison portal, C24 Bank “provides convenient and secure banking services, along with features to help customers optimise their finances and save money.”
In 2020, C24 Bank first partnered with Mambu to “launch the greenfield bank.”
Its deposit offerings went live in just 14 months, and “following a successful collaboration, C24 Bank will continue running on Mambu’s modern core foundation as it scales.”
The partnership with Mambu has allowed C24 Bank “to build a product that has gained substantial attention and traction in the German market.”
With a focus on innovation instead of managing the core infrastructure, C24 can “expand its product set and quickly react to market changes and ever-changing customer expectations.”
They claim to be “the only bank in Germany which pays interest in all our current account products. Mambu has helped us to provide that.”
Lasse Schmid, Geschäftsführer (Managing Director) at C24 says:
“At C24 Bank, we want to provide a unique offering to our customers. We are looking forward to extending our partnership with the aim to serve 1 million customers and to continue to deliver exceptional customer experiences.”
Nick Lawler, Market Director, EMEA at Mambu says:
“After five successful years of collaboration, we are thrilled that C24 Bank has chosen to extend our partnership as it continues to build out its deposit products and services. It has been incredible to witness the growth of C24’s offerings, underpinned by Mambu’s cloud banking platform.”
The challenger bank says that they “have seen how Mambu can simplify and streamline banks’ ability to launch innovative services, and we look forward to empowering C24 Bank on its mission to help customers optimise their finances.”
Mambu’s software as a service (SaaS) model and “composable approach provides banks with a faster time-to-market and added flexibility compared to legacy core solutions.”
Running on its modern, cloud-native platform, “over 260 financial service providers have transformed their operating models to deliver innovative products for their customer base.”
