Mambu, the SaaS cloud banking platform, announced today its successful collaboration with ABN AMRO to support BUUT, a bank designed to help younger consumers better manage their money/finances.
The neobank was brought to market in 12 months.
BUUT is a full-service bank that offers a “suite of financial tools within a single, intuitive app including a Dutch IBAN account, savings and budgeting tools, payments, and cards.”
Mambu’s composable platform provides several “core banking services that enable the BUUT IBAN administration underlying the payment and savings accounts.”
Innovating from a foundation of trust, ABN AMRO has ”launched several apps and brands including business lender New10 in 2016, another successful partnership where the bank leveraged Mambu’s composable banking platform.”
As noted in the update,
“With BUUT, ABN AMRO has shown how established banks can leverage a future-ready, cloud-native platform to move with the agility and scale needed to keep up with market needs and the demands of Gen Z and Alpha. We are pleased to expand on our partnership with ABN AMRO and support them to deliver a fresh, digital-first banking experience for the next generation.”
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.”
Mambu offers a modular, ”scalable product that grows with businesses.”
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.”
