Ovum puts cloud banking tech provider Mambu 'On the radar'

BERLIN, GERMANY: Mambu's rapid growth demonstrates the credibility and capability of a full cloud-based model, says new report.

Mambu, the banking and microfinance cloud software provider has been highlighted by global analyst firm Ovum in an 'On The Radar' report, a series of research notes that highlight up-and-coming vendors that bring innovative ideas, products, or business models to their markets.

According to Ovum, many financial institutions are realizing that the world's underbanked segment represents an increasingly attractive market in many growth economies in terms of absolute revenue potential and future growth rates. In the report, Ovum explains that the challenge for organizations looking to rapidly reach this market segment is in providing a low cost banking platform that allows viable support of previously underbanked users, whether they be individuals, or in the micro and small to medium enterprise sector. Mambu looks to address this challenge through a SaaS-based banking platform that provides rapid implementation and an opex-based pricing model.

Daniel Mayo, chief analyst and practice leader for financial services technology at Ovum, said, "While a fully cloud-based platform may not be the first choice for most traditional banks looking for a banking platform to move into new markets, innovative banks are rapidly realizing that perhaps it should be. Cloud-based models offer a step-change in terms of pricing and deployment speed. Mambu offers a low-cost/low-risk option for banks to develop their business models in the microfinance and emerging enterprise space, and in the longer term could even provide interesting options for a bank's mainstream business."

David Hamilton, president of Mambu, added, "Our customers come to us because they want to get to market quickly, and we help them achieve their goals with our flexible, easy to use platform. For us, this increasing interest from banks validates our belief that core banking systems are over complex, inflexible and expensive and Mambu offers a fast, flexible alternative to solving these challenges."

Ovum subscribers can download the full report here: http://ovum.com/research/on-the-radar-mambu/