Software as a Service (SaaS) cloud banking platform Mambu announces a partnership with Ibercaja Banco, one of Spain’s financial institutions, to launch a consumer finance entity in early 2025.
The partnership underscores Mambu’s expertise in enabling incumbent banks to develop consumer-focused solutions “with speed, agility and innovation – typically associated with fintechs – reinforcing its position as a trusted leader and established player in the market.”
For Ibercaja, partnering with Mambu marks a pivotal step in “transforming its consumer finance operations, delivering greater scalability, responsiveness and speed to market to meet evolving customer needs.”
The rollout will commence with Ibercaja Technology Solutions, a newly launched division dedicated to innovation in consumer finance and payments, paving the way “to modernize the bank’s legacy stack and evolve their portfolio to fully service the consumer lending line of business in the long run.”
Mark Geneste, Chief Revenue Officer, Mambu said:
“We are delighted to support Ibercaja in reimagining consumer finance in Spain, enabling transformational growth through our platform. This partnership underscores our commitment to fostering long-term, sustainable growth for established financial institutions. By working with leading regional players to modernise their offerings and transform their core, we are shaping the modern banking and financial experiences customers want and need.”
Managing €97.9 billion in assets for over 2.5 million Spanish customers, Ibercaja plans to transition its consumer finance “operations to Mambu’s composable cloud-native platform, underpinned by Amazon Web Services (AWS) through a staggered approach over the coming years.”
Leandro Hermida Brañas, CIO, Ibercaja said:
“Our partnership with Mambu represents a significant milestone in enhancing our consumer finance operations. Mambu’s reputation as the industry’s first cloud-native banking platform, combined with its proven track record in supporting innovative financial solutions globally, makes it the ideal partner for us. This expertise and experience are key to accelerating Ibercaja’s technological transformation and market expansion, fully aligning with our vision and technological strategy. Our goal is to lead the Spanish consumer finance market through technological leadership and an exceptional customer experience. With Mambu’s composable API-first platform and extensive partner ecosystem, we aim to reach 200,000 new customers within five years and later deliver future-ready, sustainable financial solutions to our existing customers.”
Ibercaja’s choice of Mambu as its technology partner reflects Mambu’s expertise in financial projects and strengthens “a client portfolio, including Raiffeisen Bank, ABN AMRO, BancoEstado, and Commonwealth Bank of Australia.”
