German cloud banking platform Mambu has partnered with US-based money transfer firm Western Union to offer digital banking products in Europe.
Under the partnership, Mambu will integrate its solution into Western Union’s next-generation real-time multi-currency digital wallet and digital banking platform in Europe.
The cloud banking platform will allow Western Union to expand its partnership with its customers, and create a new banking experience.
Through its cloud-native platform, Mambu has 70 million daily users and more than 230 banks and financial institutions as customers.
Western Union’s digital banking app WU+, built on Mambu, will combine a range of features that make it easy to transfer money, manage cards and view transactions.
Mambu will enable Western Union to deploy new banking products and services that are easy to configure and integrate with external applications.
Customers can create a new account in minutes by selecting a subscription model and start saving and spending immediately in a single, native mobile app.
Western Union chief data and innovation officer Thomas Mazzaferro said: “Our ambition is to provide market-leading financial solutions to our customers.
“By partnering with Mambu, we have built our digital banking products and services starting in Europe with Germany and Romania.
“The Mambu and Western Union team have come together in a truly collaborative partnership accelerating our financial service ambitions, while building a product that can scale and is cloud agnostic.”
Mambu CEO and co-founder Eugene Danilkis said: “The industry has reached a tipping point for cloud adoption. Large financial institutions have started a global trend of moving to cloud-native, nimble tech stacks and are becoming part of the ecosystem.
“Western Union adopted the cloud because they recognized that FIs of the future need to engage their customers with excellent new products. We are looking forward to seeing Western Union wow their customers with modern and secure banking services.”
