A latest announcement by the cloud-based banking platform Mambu has confirmed that the British challenger financial institution Tandem is now dwell on its SaaS banking platform. Ten months after signing the settlement, the finalised implementation was succeeded by a four-month beta in late 2020, earlier than a full rollout in early February 2021.
With shut collaboration between the 2 fintechs, all buyer accounts – divided between financial savings, loans, and mortgages – have been migrated in a single day, fulfilling the financial institution’s profitable transition onto the brand new platform. The change will enable Tandem to learn from full management throughout all of its product providers, while considerably enhancing its understanding of buyer behaviour and the way such an interplay could be made extra environment friendly.
Migrating their legacy system to their very own proprietary software program that integrates best-of-breed cloud suppliers equivalent to Mambu, not solely supplies Tandem entry to the most effective banking expertise available in the market however helps them ship on the inexperienced finance proposition to assist folks ‘save whereas saving the planet’.
“We’ve been progressing in direction of a greener banking ethos for some time now,” mentioned Noam Zeigerson, Chief Information and Expertise Officer at Tandem. “And with our latest acquisition of Allium Lending Group, we’ve been capable of speed up on this mission. We wanted a expertise companion that was each a tradition match for Tandem and had additionally technical hacks. Discovering a companion that’s an skilled in a fancy process, equivalent to managing banking ledgers, enabled in addition to making all of it accessible in a programmatic approach through APIs was a key for our success. It allowed us to concentrate on creating worth for our clients, constructing our software program expertise in the way in which we love and transfer our enterprise ahead.”
Tandem selected to maneuver to Mambu to offer the digital-only bank’s demographic with a extra curated buyer expertise, while additionally creating extra agile operations regarding the launch of latest merchandise; all collectively serving to the financial institution to remain true to its inexperienced targets as all work undertaken with Mambu was accomplished nearly; with out journey or environmental influence.
“Having each groups intently aligned decreased the chance related to implementation and migration processes, giving Tandem the arrogance that if any points ought to come up, they’d be met by a well-briefed Mambu staff, capable of react shortly,” mentioned Eelco-Jan Boonstra, Managing Director of Mambu EMEA. “When Tandem determined to maneuver away from extra conventional software program suppliers, they knew it was the way in which to stay sustainable and obtain their inexperienced targets – and we’re exceptionally happy to not solely show them proper, however shock them by how shortly we achieved it.”
After a profitable 2020 with 100% YoY progress and the latest €110 million spherical of funding, Mambu continues to offer clients with a platform on which to construct agile, customer-centric monetary companies.