Mambu, a cloud banking platform, announced the acquisition of Numeral, a French payment technology provider for banks and fintechs.
The acquisition reportedly aims to strengthen Mambu’s position as a key industry player in a move that underscores market confidence and “demand for modern financial experiences.”
The addition of payment capabilities represents a significant investment in the next phase of Mambu’s growth as “an established market player.”
With Numeral’s platform, Mambu is set to drive value from wider audience segments that will increase its overall share of the market.
It also offers a unique strategic fit to the “foundation of the cloud banking leader’s long-term expansion efforts.”
Established back in 2021, Numeral is a payment tech provider that offers financial institutions a universal gateway to “connect to partner banks and access schemes and a modern payments hub to automate payment processing.”
The Paris-based firm processes over €10 billion in payments annually and has established a presence in Europe, “having expanded its operations to the UK last year.”
The size of the market opportunity for bank payments is striking. In 2022, the value of bank payments in the Eurozone stood “at €191 trillion, that is 58x more than card payments (€3.3 trillion).”
This vast global market is transforming, driven by the rise of instant payments as a catalyst for “modernizing core banking and payment platforms.”
With its robust bank integrations, a modular API, and a modern dashboard, Numeral’s platform will enable Mambu to “capitalize on this market opportunity.”
The cloud banking platform will benefit from Numeral’s roster of partnerships with some of Europe’s banks, “including BNP Paribas, Barclays, HSBC, and ABN AMRO.”
He also mentioned that by bringing together dedicated payments technology with Mambu’s cloud banking platform and global customer base, they can enable more companies to “make their payments future-proof and ever-compliant while eliminating hidden payment complexity at scale.”
The integration of Mambu and Numeral’s payment platform will enable banks, fintechs, and non-financial service firms to manage end-to-end payment workflows, “support multiple payment methods, and provide real-time transaction capabilities.”
This will drive operational efficiency, “improved customer experiences, and accelerated time-to-market” for financial solutions.
Mambu will gain the flexibility to offer a sophisticated, “readily-available set of payment capabilities.”
New and not-yet-live customers can take advantage of this from day one, while customers that “have a payment solution in place will have the option to upgrade.”
