Mambu, a banking and payments platform, announced the launch of its enhanced Islamic banking capabilities, designed to enable financial institutions to “build, deploy, and scale Shari’ah-compliant products with greater overall efficiency.”
With assets expected to surpass “$3.8 trillion by 2025, the Islamic banking sector is primed for scale.”
Yet many banks across the MEA and Asia-Pacific (APAC) are “operating on infrastructure that simply can’t support the demands of today’s customers, or the pace of change in financial services.”
Mambu’s latest advancements provide a “foundation for ethical finance, enabling banks to meet growing customer expectations and regulatory requirements while staying true to Islamic principles.”
Mambu’s cloud banking platform has a track record of enabling financial institutions to “modernise and launch their Islamic banking offerings.”
Building on this foundation, their enhanced Islamic banking capabilities are gaining significant traction, “allowing new and existing looking to streamline operations, optimise product development, and launch Shari’ah-compliant solutions with unprecedented ease, speed, and scalability.”
Mambu’s expanded Islamic banking offering provides “a comprehensive suite of tools for Islamic banks and those looking to offer Shari’ah-compliant products.”
The updated capabilities include:
- Islamic Profit Sharing (IPS): A powerful, purpose-built engine designed to automate, streamline, and scale Islamic banking operations. By automating the fair calculation and distribution of profits, IPS significantly reduces operational risk while ensuring full transparency and alignment with Shari’ah principles.
- Islamic funding solutions: Support current and savings account products based on true profit-and-loss sharing principles such as Mudarabah, Wakalah, Wadiah, Qard Hassan and Tawarruq.
- Islamic financing solutions: Our flexible engine supports a range of Shari-ah based financing products for personal, SME, and asset-based needs including Murabaha, Tawarruq, and Qard Hassan.
With Mambu’s true SaaS architecture and low-code product configuration, financial institutions “can scale operations across Islamic and conventional banking systems while maintaining clear separation between them.”
Mambu’s dual-banking support “enables expansion into new markets, backed by real-time performance, built-in security, and regulatory tools.”
As covered, Mambu is the SaaS cloud banking platform.
Founded in 2011, it enables banks, lenders, credit unions, fintechs, retailers and other organisations “to design and launch modern financial products with speed and flexibility.”
Their composable approach allows independent components, systems and connectors to be “assembled in any configuration to meet business goals and customer needs.”
The platform supports core banking, deposits, lending, payments and Islamic banking.
Mambu offers a modular and scalable product that grows with businesses.
Whether launching a single product or transforming a banking stack, Mambu reportedly provides the “reliability needed to succeed in today’s financial landscape.”
More than 260 customers in over 65 countries rely on Mambu, “including Western Union, Commonwealth Bank of Australia, N26, BancoEstado, Raiffeisen Bank, ABN AMRO and Bank Islam.”