Cloud banking platform Mambu has acquired French payment technology provider Numeral in a move aimed at bolstering its payment capabilities and expanding its market share in the financial technology sector.
The financial terms of the deal were not disclosed.
Through the acquisition, Mambu will integrate Numeral’s platform into the former’s core banking offerings. This integration will enable Mambu to deliver advanced payment solutions technology.
The cloud banking platform will also be able to expedite the next generation of financial products.
Established in 2021, Numeral offers financial institutions a universal gateway to connect to partner banks, access payment schemes, and automate payment processes.
The company processes over €10bn in payments annually and is said to have a strong presence in Europe, having entered the UK market last year.
Numeral co-founder and CEO Édouard Mandon said: “Payments are at the heart of how companies do business around the world, yet they remain trapped in systems designed decades ago, unfit for the ongoing instant payments revolution.
“This is a problem that Mambu intimately understands having helped banks and financial institutions worldwide to migrate from rigid, traditional core systems to agile and adaptable cloud infrastructure.”
Mambu will also benefit from Numeral’s established partnerships with major European banks, including BNP Paribas, Barclays, HSBC, and ABN AMRO.
This collaboration will allow Mambu to offer banks, fintechs, and non-financial firms the ability to manage end-to-end payment workflows seamlessly, support multiple payment methods, and enable real-time transaction processing.
Existing and new Mambu customers will gain access to the payment platform that enhances operational efficiency, accelerates time-to-market, and improves customer experiences.
Clients already using payment solutions will have the option to upgrade, while new customers can access the enhanced capabilities from the outset.
Mambu CEO Fernando Zandona said: “This acquisition marks a considered move to deliver a more modern, comprehensive payment offering which is now an integrated part of Mambu’s product portfolio.
“Numeral’s advanced payments platform will enable us to address changing customer demands, strengthen existing product lines and expand our market reach, while offering businesses advanced capabilities to meet an extensive range of needs.”
